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Equator Principles

When financing projects, we uphold voluntary industry standards based on the World Bank's environmental and social standards.

We conduct our project finance activities in accordance with the Equator Principles, which are based on environmental and social standards defined by the World Bank Group. More than 70 international financial institutions have pledged to examine the possible human or environmental effects of resource or infrastructure projects on the basis of social and environmental impact assessments and to call on clients to develop specific measures to reduce or correct any potential negative consequences before agreeing to provide finance or advice.

A Universal Standard

The Equator Principles are extensively implemented in the financing of major projects such as gold mines or dams in developing or emerging countries.

The Equator Principles provide an important standard for assessing risks in project finance transactions.

Companies that wish to borrow money for project financing from Credit Suisse must meet the following requirements, among other things:

• When assuming a new project, the company must conscientiously investigate the potential impact on human beings and the environment by way of a Social and Environmental Impact Assessment. Suitable mitigation measures must be introduced for any negative impacts (e.g. construction of water purification plants, infrastructure improvements).
• The assessment must be reviewed by independent, external experts.
• The project to be financed must meet the corresponding World Bank criteria and host country laws.
• Project initiators, i.e. the borrowers, are obligated to provide periodic reports to the creditor bank.
• Persons affected by the implications of a project must be involved in the planning process and risk evaluation at an early stage and in an appropriate manner.
• The project initiator must establish a grievance mechanism to address any concerns the affected community may have.

Credit Suisse was one of the first companies to sign up to the Equator Principles in 2003 and we have since reported annually on our efforts to implement them. Since 2010, we have been actively involved in the Equator Principles Steering Committee, as well as in some of its working groups to discuss the scope of the Principles and to conduct a dialogue with non-government organizations (NGOs). As a member of the Governance Task Force, we are also contributing to the development of the Equator Principles III. Equator Principles transactions, as well as other transactions that entail potential sustainability risks, are assessed using a uniform internal risk review process.

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