History as Standard chairs Equator Principles body
by TINTSWALO BALOYI
JOHANNESBURG, (CAJ News) – STANDARD Bank, the South African headquartered financial firm, has assumed chairmanship of the Equator Principles Association for 2015/16 with immediate effect.
It is the first African bank to be elected to this position.
Standard Bank’s Executive & Head of Environmental and Social Advisory within Investment Banking, Nigel Beck, will be the bank’s lead representative and chair.
“We look forward to working with all Equator Principles Financial Institutions to ensure we remain focused on lending responsibly, enhance business opportunities and supporting the way in which we conduct our business with our customers across emerging and established markets,” said Beck.
Officials said the appointment came at a critical juncture in the integration of environmental and social considerations within business as a component of responsible investing.
The Equator Principles is said to be a step in this direction requiring project financing, advisory and project related corporate loans to meet consistent international standards from an environmental and social perspective.
This is partially the reason the major drivers of global environmental, social and climate change is coming from the 80 Equator Principles Financial Institutions in 35 countries who have officially adopted the Equator Principles.
These financial institutions cover the majority of international project finance debt within developed and emerging markets.
Standard Bank Group is the largest African bank by assets with a unique footprint across 20 African countries.
– CAJ News
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