Equator Principles – Now and Then

The Equator Principles are a transnational corporate social responsibility initiative in the project finance sector. In 2013, the Equator Principles Association celebrated the tenth anniversary of its principles and at the same time the formal launch of the latest generation of the Equator Principles (EP III). The paper describes the historic development of the Equator Principles – from the initial drafting process in the early 2000s up to the latest review process which led to the third generation of the Equator Principles. The paper also analyzes the current state of affairs of the Equator Principles (Association) and gives a brief outlook on potential lines of (future) development. In particular, the paper deals with the following questions: What are the main characteristics of the Equator Principles framework? What are the relevant actors involved in the drafting and reviewing process? Why are the EPs and other organizational and associational codes of conduct in the finance sector so important? What has been achieved so far by the Equator Principles (Association) and the participating (financial) institutions and what remains to be done?