RBC is a signatory to the Equator Principles, a set of voluntary guidelines addressing environmental and social risks associated with project finance. We originally committed to these Principles July 21, 2003 and were the first Canadian financial institution to do so.
The Equator Principles were recently revised in consultation with clients, non-governmental organizations and official development agencies to reflect the experiences of the Equator Principle signatories and the recent revision to the International Finance Corporation’s Performance Standards, upon which the Principles are in part based. RBC contributed to the revision of these Principles as part of the Equator principles Working Group.
RBC was pleased to recommit to the Principles on July 6, 2006 along with 42 other financial institutions around the world, representing more than 85% of global project financing.
Since our original adoption of the Equator Principles, RBC has reviewed 14 projects under our related Policy on Social and Environmental Review in Project Finance. Seven of these projects were in Canada, six in the Middle East, and one in the UK. Nine of these transactions have been completed, two were cancelled, one sought alternative financing and two are in the process of completion.
Year |
Reviewed |
Equator Principle Category1 |
. |
. |
A |
B |
C |
2006 |
4 |
1 |
1 |
2 |
2005 |
6 |
2 |
4 |
. |
2004 |
4 |
3 |
1 |
. |
Total |
14 |
6 |
6 |
2 |
1When a project is proposed for financing, RBC will categorize the project based on the magnitude of its potential impacts and risks in accordance with the environmental and social screening criteria of the Equator Principles. These categories range from A, which represents projects with potential significant adverse social or environmental impacts that are diverse, irreversible or unprecedented, to C, which represents projects with minimal or no social or environmental impacts.
For additional information please visit:
Equator Principles
