Monday, December 17, 2012
The following items remain the same in EP III according to the draft that was released in August 2012. The final draft will be released in early 2013. So, what will likely stay the same? Read more to find out...
In light of the inter-relationship and overlap between EP and legal and regulatory requirements, an integrated approach to EP implementation with environmental and social legal due diligence is likely to emerge as a best practice trend. One significant advantage of doing so is the potential role that legal privilege can play in the EP implementation process.
Wednesday, December 12, 2012
Following on revision of the IFC Perofrmance Standard 7 on Indigenous Peoples. The UN Global Compact guide can be found HERE.
Growing Legal Implications for Banks as Private Regulators of Environmental and Social Standards – Need for a New Approach with More Legal Involvement
Many banks have historically treated Equator Principles (EP) implementation process as though it were “non-legal”. This has been due, in part, to a belief that the initially voluntary nature of the EP agreement makes it different from a legally imposed requirement. While entering into the EP agreement is, certainly, a voluntary decision, the reality of that decision is that it carries significant legal implications and even risks.