Do EPFIs apply the Equator Principles to all projects in all industry sectors globally? Or, are the Equator Principles only for projects in emerging markets?
Consistent with language in the new Scope section of the revised Equator Principles, the Principles apply to all new project financings globally with total project capital costs of US$10 million or more, and across all industry sectors. Under Principle 3 (“Applicable Social and Environmental Standards”), there is a detailed explanation of the requirements for projects located in non-OECD countries, and those located in OECD countries not designated as High-Income, as defined by the World Bank Development Indicators Database. For these projects, the Assessment will refer to the then applicable IFC Performance Standards (Exhibit III) and the then applicable Industry Specific EHS Guidelines (“EHS Guidelines”). Principle 3 (“Applicable Social and Environmental Standards”) also outlines the requirements for projects located in High-Income OECD Countries (e.g., US, Canada, Western Europe, Japan, etc). EPFIs deem that the regulatory, permitting and public comment process requirements in High-
