Investors with US$1.2 Trillion Submit Human Rights Recommendations to Equator Principles Review Process
On August 23, 2019, institutional investors representing a total of US$1.2 trillion in assets under management submitted recommendations to the most recent review process of the Equator Principles (EP4).
The signatories commend the Equator Principles Association (EPA) and its signatory financial institutions (EPFIs) for their ongoing efforts to review and revise the requirements laid out in the Equator Principles (EPs) to better reflect international standards, particularly when it comes to established expectations for all business actors – including financial institutions – to respect fundamental human rights.
However, signatories express concern that the current draft of EP4 does not adequately align with the UN Guiding Principles on Business and Human Rights, the authoritative global framework on business and human rights, nor the OECD Due Diligence Guidance for Responsible Business Conduct.
As such, the investor submission focuses on key recommendations for alignment across EP4 and accepted business and human rights standards. The signing investors view this alignment as critical in ensuring the future relevance of the EPs as a social and environmental risk management framework for the financial sector.
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