|
Action Card Briefing Banks - Investing for Positive Change May 2009 The economic crisis has refocused attention on the ethical considerations around international finance. Banks enhance profitability through project financing for development projects all around the globe. These projects vary from business start up to the construction of large hydroelectric dams. Major banks have established the Equator Principles; a set of voluntary guidelines to guide the assessment of all projects over $10 million. If a project fails to meet the criteria the expectation is that project finance would be turned down. To sign up to the principles is one thing – to follow them through is another. Some independent reports <hyperlink> allege inadequate application of the principles and lack of transparency in reporting. The Co-operative Bank is known for its keenness to receive comments from customers on matters of ethics and doesn’t take part in international project financing. Other major banks are less forthcoming. The Equator Principles Official Site Lloyds TSB Our Research (pdf download) Barclays Our Research (pdf download) HSBC Our Research (pdf download)
|
   |
|
|
|
|
 |
 |
 |