The Equator Principles provide a globally-recognised benchmark that financial institutions involved in project finance can use in their management of social and environmental risk. In March 2009 EFIC joined many financial institutions and export credit agencies around the world by voluntarily adopting the Equator Principles.

EFIC chooses to apply to all transactions it considers the principles embodied in the Equator Principles and in another globally recognised approach, the Organisation for Economic Development’s Recommendation on Common Approaches on the Environment and Officially Supported Export Credits.

Principle 10 of the Equator Principles commits the adopting institutions to ‘report publicly at least annually about its Equator Principles implementation processes and experience, taking into account appropriate confidentiality considerations’. EFIC meets this reporting commitment in its Annual Reports. The information for the 2010 financial year is also shown below.

EFIC supported one project finance transaction in the 2010 financial year: the Papua New Guinea Liquefied Natural Gas project. This transaction was the only project finance transaction screened and was classified Category A.

More information about the Equator Principles is available on the Equator Principles website.