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Equator Principles

Dodgy Deals

The Equator Principles (EPs) is a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in projects. Currently 80 Equator Principles Financial Institutions (EPFIs) in 35 countries have officially adopted the EPs, covering over 70 percent of international Project Finance debt in emerging markets.

EPFIs commit to implementing the EP in their internal environmental and social policies, procedures and standards for financing projects and will not provide Project Finance or Project-Related Corporate Loans to projects where the client will not, or is unable to, comply with the EP.

The Principles have become the de facto standard for all banks and investors on how to deal with potential social and environmental effects of large scale projects to be financed. They were launched in 2003, revised in 2006 and released anew as EP III, in effect in January 2014.

BankTrack has monitored the development of the Equator Principles ever since their inception. While we value the Equator Principles as a commitment, we continue to have major concerns on many aspects of the Principles, such as the non-transparent way they are being applied, the absence of any grievance mechanism for communities impacted by EP projects and the complete lack of any meaningful commitment on combating climate change. You can read about our concerns in our numerous reports published since 2003 (see 'documents').

You can find the list of banks that adopted the Equator Principles on the EP website. All Equator banks that are covered in our own banktracking system can also be found on this page under'banks'. BankTrack is also tracking a number of Equator Principles projects; these you can find under'dodgy deals', and are marked with the Equator Principles logo in the Dodgy Deal section of individual bank profiles.


ABN AMRO Bank N.V. is a Dutch state-owned bank with headquarters in Amsterdam. It was re-established, in its current form, in 2009 following the acquisition and break up…
The Australia and New Zealand Banking Group Limited commonly called ANZ, is the fourth largest bank in Australia, after the Commonwealth Bank,…
ASN Bank
ASN is an independently operating bank that is part of the SNS Reaal group (which also includes SNS bank). It was founded in 1960. ASN aims to be a leading bank in sustainable…
Banco Bradesco
Banco Bradesco was established in 1943 and is one of Brazil's largest private-sector bank in Brazil and Latin-America. Its consolidated assets have a worth…
Banco de Crédito del Perú (BCP)
Banco de Crédito del Perú (BCP) is Peru's oldest and largest bank. It was founded in 1889 by a group of Italian businessmen. Today it also operates branches…
Banco do Brasil
Banco do Brasil is partly state-owned, partly publicly listed at the stock exchange in Sao Paulo. Banco do Brasil was founded by then prince-regent João VI of…
Banco Galicia
Founded in 1905, Banco Galicia is one of the largest private sector banks in the Argentine financial system and a leading financial services provider in the country. As a…
Banco Popular Español
Banco Popular is the fifth largest banking group in Spain in terms of assets and client deposits.  It is focused on retail and commercial banking, with some 2,200 branches…
Bank of America
United States
Bank of America is an American multinational banking and financial services corporation and is the second largest bank holding company in the United States by assets, and…
Bank of Tokyo-Mitsubishi MUFG
Bank of Tokyo - Mitsubishi UFJ is the largest bank in Japan. It was established on January 1, 2006, with the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd.…
United Kingdom
Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management…
Banco Bilbao Vizcaya Argentaria (BBVA), is a multinational Spanish banking group. It was formed in 1999 from a merger of Banco Bilbao Vizcaya and Argentaria. It provides financial…
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified financial services provider based in North America with total assets of $672 billion…
BNP Paribas
BNP Paribas is one of the main banks in Europe. It was created on 23 May 2000 through the merger of Banque Nationale de Paris (BNP) and Paribas.…
Caixa Economica Federal
With about 38 million customers, the government-owned company is Brazil's second largest bank by assets and the largest publicly held bank in Latin America. The bank was…
The Canadian Imperial Bank of Commerce (CIBC) formed after the largest merger of two chartered banks in Canadian history on June 1, 1961. CIBC has three main business units:…
United States
Citigroup Inc., doing business as Citi, is a major American financial services company based in New York, NY. Citigroup was formed from a merger between Citicorp and financial…
Commonwealth Bank
Commonly referred to as the Commbank, it was founded in 1911 by the Australian government. The Commonwealth Bank is now the second largest Australian listed company on the…
Crédit Agricole
The Crédit Agricole Group is a unified but decentralised group consisting of 39 Regional Banks, Crédit Agricole S.A. and many subsidiaries. It includes Crédit…
Credit Suisse
Credit Suisse was founded in 1856 and is headquartered in Zurich, Switzerland. It serves companies, institutional clients and high-net-worth private clients worldwide, as…
DekaBank Deutsche Girozentrale is the central asset manager for the Sparkassen-Finanzgruppe. The group is active in the business areas of capital market asset management,…
DnB, founded in 1822, is Norway’s largest financial services group. The Group consists of brands such as DnB, Vital, Nordlandsbanken, Cresco, Postbanken, DnB NORD and…
DZ Bank
DZ Bank (Deutsche Zentral-Genossenschaftbank) is the fourth largest bank in Germany by asset size, and acts as the central banking institution for more than 900 cooperative…
South Africa
With a history dating back to 1838, FirstRand is a fully integrated financial services group and one of the big four South African retail, commercial and investment banks.…
FMO is the Dutch development bank supporting companies, projects and financial institutions from developing and emerging markets. It specialises in sectors where…
United Kingdom
Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. HSBC operates from around 9,500 offices in 86 countries and…
Infrastructure Development Finance Company Limited (IDFC) is an Indian financial services company specialising in infrastructure finance, but also involved asset management,…
Industrial Bank
The Industrial Bank was founded in 1988 and was one of the first batch of joint-stock commercial banks approved by the State Council and the People's Bank of China. The Industrial…
ING (an abbreviation of Internationale Nederlanden Groep) is a Netherlands based international financial services company and one of the world’s largest savings banks.…
Intesa Sanpaolo
Intesa Sanpaolo is a banking group resulting from the merger at January 1, 2007 between Banca Intesa and Sanpaolo IMI. It has a strong international presence focused on Central-Eastern…
Banco Itau took over Unibanco at November 3, 2008 to form Itaú Unibanco Holding S.A. The full integration of all operations and business shall be completed…
JP Morgan Chase
United States
JPMorgan Chase is one of the Big Four Banks of the United States (along with Bank of America, Citigroup and Wells Fargo). The firm was formed in…
KBC, established in 1998 from a merger between two Belgian banks (the Kredietbank and CERA Bank) and the Belgian insurance company ABB, is an integrated bancassurance group,…
KFW Ipex Bank is a subsidiary of the KfW banking group, is it responsible for international project- and export finance. The bank is legally independent from the KFW banking…
La Caixa
"La Caixa", formally the Caixa d'Estalvis i Pensions de Barcelona is currently Spain's leading savings bank. It is Spain's third largest financial institution, and a Equator…
United Kingdom
Lloyds Banking Group Plc was formed on the 19th of January 2009 after Lloyds TSB acquired HBOS. The group is currently the largest retail bank in the United Kingdom with…
Mizuho Financial Group is one of three Japanese "megabanks" (along with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group). The name "Mizuho" is an…
National Australia Bank Group is one of the four biggest banks of Australia. The Group is structured around regional banking and wealth management operations and an international…
Natixis is a French corporate and investment bank created in 2006 from the merger of the asset management and investment banking operations of Natexis Banque Populaire…
South Africa
Nedbank Group Limited (‘Nedbank Group’) is a bank holding company that operates as one of the four largest banking groups in South Africa, with Nedbank Limited…
NIBC was founded in 1945, originally called the ‘Maatschappij tot Financiering van Nationaal Herstel') by the Dutch government along with a number of commercial banks…
The Nordea Group was established in 2000 but derives its origin from banks and insurance companies from the Nordic region from the early 19th century. Since 3 December…
Rabobank Group is a full-range financial services provider based in the Netherlands. It is founded on cooperative principles and as such owned by its members. The bank offers…
The Royal Bank of Canada (in French, Banque Royale du Canada, and commonly RBC in either language) is the largest financial institution in…
United Kingdom
RBS was founded in 1727 and is one of the major UK banks. RBS has 40 million customers using the financial services of over 30 brands, including NatWest, Direct Line, Churchill,…
Grupo Santander is a banking group centered on BancoSantander, the largest bank in the euro area, which originated in Santander,Cantabria, Spain. Santander focuses activities…
The Bank of Nova Scotia (commonly called Scotiabank in English and Banque Scotia in French) is the third largest bank in Canada by…
Skandinaviska Enskilda Banken AB (SEB) is a Swedish bank focussed on corporate and private banking. It describes itself as the leading corporate and investment bank in the…
Société Générale
Société Générale ("SocGen") is one of the oldest banks in France, dating back to 1864. The original name was Société…
Standard Bank
South Africa
Standard Bank is a South African-based financial services group with a global presence focused on emerging markets. It operates in 30 countries around the world, including…
Standard Chartered
United Kingdom
Despite its British base, Standard Chartered has few customers in the United Kingdom and 90% of its profits come from Asia, Africa, and the Middle East. Its operations lie…
Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation is a subsidiary of the Sumitomo Mitsui Group. It is the second largest bank of Japan and also holds branches in the United States,…
Toronto-Dominion Bank - TD
The Toronto-Dominion Bank (in French, Banque Toronto-Dominion, and commonly TD in either language) is the second largest bank in Canada by market capitalization…
The UniCredit Group is the result of the merger of nine of Italy's largest banks and the subsequent combination with the German HVB Group and the Italian Capitalia Group.…
Wells Fargo
United States
Wells Fargo is one of the big banks in the United States, located in San Fransisco. In october 2008, Wells Fargo acquired the troubled bank Wachovia, at that moment the sixth…
Westpac is an Australian bank with a strategic focus on Australia, New Zealand and the near Pacific. The Westpac Group provides a broad range of banking and financial services,…
Agua Zarca dam
With a generating capacity of 22MW, a 300 metre-long reservoir and a 3km long diversion channel between the dam and the turbines, Agua Zarca - being constructed by the Honduran…
Alpha Coal project
The Alpha Coal project is a A$6 billion coal mine and export project that is proposed to be constructed in Queensland, Australia. The black thermal coal mine and associated…
Barro Blanco dam project
The Barro Blanco dam is under construction in the Tabasara river, in the Chiriqui Provence of Panama. The dam will have a capacity of 28.85 Megawatt and a reservoir surface…
Belo Monte dam
The Belo Monte Dam on the Xingu River is currently the largest dam project under consideration anywhere on the planet, and would be the world’s third largest in installed…
Kashagan oil project
An offshore oil project in the north Caspian Sea, Kashagan is part of the North Caspian Sea Production Sharing Agreement (PSA), a 40-year contract that was signed in 1997…
Liquified Natural Gas (LNG) project
Papua New Guinea
Liquified Natural Gas (LNG) is natural gas that has been chilled to liquid form, reducing it to one-six-hundredth of its original volume for transportation by ship to destinations…
Nam Theun 2 dam
The US$1.45 billion Nam Theun 2 Hydropower Project, in the small Southeast Asia country of Lao PDR, is involves a 39-meter high dam on the Theun River, a major Mekong tributary,…
Rio Madeira dams: Jirau and Santo Antonio
Located in the state of Rondônia - Brazil, the Madeira River is the principal tributary of the Amazon River, with its basin covering about one-quarter of the Brazilian…
Sakhalin II oil and gas project
Russian Federation
The Sakhalin II project in the Russian Far East is said by project sponsors to be the largest integrated oil and gas project in the world.  The project  involves three…
Tamar Valley Pulp Mill Tasmania (formerly Gunns Pulp Mill)
Land and permits for the Tamar Valley Pulp Mill, Tasmania (formerly known as Gunns Pulp Mill) are currently on sale. Gunns Limited, an Australian logging giant, launched…
Theun-Hinboun dam expansion
The US$585.5 million Theun-Hinboun Expansion Project involves a 65-meter high storage dam on the Nam Gnouang  River and a doubling of capacity at the existing Theun-Hinboun…
Tufanbeyli coal power plant
Enerjisa, the Turkish electricity producer owned by E.ON and Sabanci, is building a new coal power plant in Tufanbeyli, commonly known as Enerjisa 2.5. The lignite-fired…
Woodlark Island Kula Gold Project
Papua New Guinea
The Woodlark Island Goldmine Project mine is a proposed and approved open cut mine in the centre of Woodlark Island. The island is isolated and has a mainly subsistence population…
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While Citi announces a retreat from coal, @BNPParibas, sponsor of the Paris climate summit, is strangely silent...
Oct 08, 2015
RT @amisdelaterre: #ENGIE, sponsor de la #COP21, essaie de laver son image? On lui dédicace cette chanson! Alors ENGIE, dis-nous oui! http:…
Oct 08, 2015
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