Revision and Re-adoption of the Equator Principles(1/1)
July 7, 2006
Mizuho Corporate Bank, Ltd.
The Bank of Tokyo-Mitsubishi
Sumitomo Mitsui Banking Corporation
and Re-adoption of the Equator Principles
July 6 2006, Mizuho Corporate Bank, Ltd. (President & CEO: Hiroshi Saito), The Bank of Tokyo-Mitsubishi UFJ, Ltd. (President: Nobuo Kuroyanagi), and Sumitomo Mitsui Banking Corporation
(President: Masayuki Oku) readopted the Equator Principles, which were publicly
announced on the same day in
Equator Principles are common standards that private financial institutions
apply to determine, assess and manage environmental and social risks in project
financing. In June 2003, the
Equator Principles were first adopted by western financial institutions; Mizuho
Corporate Bank adopted them in October 2003, followed by The Bank of
Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corporation in December 2005.
Equator Principles have been revised, reflecting the experience of the 40
Equator Principles Financial Institutions (EPFIs) and
opinions received from a wide range of stakeholders. Main revisions to the Equator Principles
Extending coverage to
ELower the threshold in terms of total capital costs from
USD 50 million to USD 10 million;
EInclude financial advisory activities of EPFIs in connection with project financings;
EInclude upgrades or expansions of existing projects,
where the additional environmental or social impacts are significant.
The application of the Equator Principles to
countries with existing high standards for environmental and social issues has
Each EPFI is now required to report on the
progress and performance of the Equator Principlesf implementation on an annual
Stronger and better social and
environmental standards have been overall introduced.
Corporate Bank, The Bank of Tokyo-Mitsubishi UFJ, and Sumitomo Mitsui Banking
Corporation intend to make every effort to achieve both economic development
and environmental and social preservation, reflecting our recognition of the
significance of corporate social responsibility.