A global standard for appraising the social and environmental aspects of large projects
BANK OF AFRICA adopted the Equator Principles in 2010, a financial industry standard aimed at identifying, appraising and managing projects’ social and environmental (S&E) risks.
To appraise and better manage the social and environmental risks relating to its customers, BANK OF AFRICA applies the Equator Principles when financing investments of more USD 10 million. This global standard is based on:
- eight IFC (International Finance Corporation) performance standards
- the World Bank Group’s Environmental, Health and Safety Guidelines
- The 10 Equator Principles are:
- Principle 1: Review and Categorisation
- Principle 2: Social and Environmental Assessment
- Principle 3: Applicable Social and Environmental Standards
- Principle 4: Consultation and Disclosure
- Principle 5: Stakeholder Engagement
- Principle 6: Grievance Mechanism
- Principle 7: Independent Review
- Principle 8: Covenants
- Principle 9: Independent Monitoring and Reporting
- Principle 10: Annual Reporting
The Bank publishes an annual report about its experience and the process of implementing the Equator Principles.
For further information about the Equator Principles 2015 Report, please click on the link to the BANK OF AFRICA EP Report.