JOINT STATEMENT TO THE EQUATOR PRINCIPLES ASSOCIATION: TOWARDS AN ACCOUNTABILITY MECHANISM FOR THE EQUATOR PRINCIPLES 

22 AUGUST 2019

On 22 August 2019, Manushya Foundation joined other 76 international civil society organisations in calling the Equator Principles Association (EPA) to initiate a process for developing an accountability mechanism to which project-affected people and other legitimate stakeholders can raise instances of alleged non-compliance with the Principles by signatory banks with the Association. Establishing such an accountability mechanism would bring the Equator Principles Association closer to meeting the requirements of the UN Guiding Principles on Business and Human Rights (UN Guiding Principles), particularly Principle 30. Furthermore, an accountability mechanism would enhance accountability of, and trust in, the Equator Principles and promote Equator Principles Financial Institutions (EPFI) due diligence and risk management in the provision of project finance. The joint statement urges the Equator Principles Association (EPA) to review the latest draft of Equator Principles (EP4) and develop this mechanism.

Joint Statement - Equator Principles Ass