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 revised in consultation with clients, non-governmental organizations and official development agencies to reflect the experiences of the Equator Principle signatories and the 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 15 projects under our related Policy on Social and Environmental Review in Project Finance. In 2008, RBC participated as both project financiers and advisors for five projects.
Analysis of Equator Principles projects |
|
|
2008 |
2007 |
2006 |
Number of projects (1) |
Equator Principles Category A |
0 |
1 |
1 |
|
Equator Principles Category B |
3 |
3 |
1 |
|
Equator Principles Category C |
2 |
2 |
2 |
|
Total projects reviewed |
5 |
6 |
4 |
By region (2) |
OECD countries |
5 |
5 |
3 |
|
Other |
0 |
1 |
1 |
By sector |
Energy (oil and gas) |
2 |
3 |
2 |
|
Energy (renewable) |
0 |
2 |
2 |
|
Infrastructure |
2 |
0 |
0 |
|
Chemical |
0 |
1 |
0 |
|
Transportation |
1 |
0 |
0 |
(1) When a project is proposed for financing, RBC categorizes the project based on the magnitude of its potential impacts and risks in accordance with the environmental and social screening criteria of the International Finance Corporation. Category A represents projects with potential significant adverse social or environmental impacts that are diverse, irreversible or unprecedented.
Category B represents projects with potential limited adverse social or environmental impacts that are few in number, generally site-specific, largely reversible and readily addressed through
mitigation measures. Category C represents projects with minimal or no social or environmental impacts. For additional information, visit equator-principles.com.
(2) OECD is the Organisation for Economic Co-operation and Development. To view OECD member countries please refer to the OECD website.
For additional information please visit:
Equator Principles
