RBC is a signatory to the Equator Principles, a set of voluntary guidelines addressing environmental and social risks associated with project finance. We originally committed to these Principles July 21, 2003 and were the first Canadian financial institution to do so.
The Equator Principles were revised in consultation with clients, non-governmental organizations and official development agencies to reflect the experiences of the Equator Principle signatories and the revision to the International Finance Corporation’s Performance Standards, upon which the Principles are in part based. RBC contributed to the revision of these Principles as part of the Equator principles Working Group.
RBC was pleased to recommit to the Principles on July 6, 2006 along with 42 other financial institutions around the world, representing more than 85% of global project financing.
Since our original adoption of the Equator Principles,
RBC has reviewed 21 projects under our related Policy on
Social and Environmental Review in Project Finance. In
2009, RBC participated in six projects.
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Analysis of
Equator Principles projects
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|
|
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2009
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2008
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2007
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Number of projects (A)
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Equator Principles Category
A
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0
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0
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1
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Equator Principles Category
B
|
5(c)
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3
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3
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Equator Principles Category
C
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1
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2
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2
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Total projects reviewed
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6
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5
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6
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By region (B)
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OECD countries
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6
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5
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5
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Other
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0
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0
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1
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By sector
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Energy (oil and gas)
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3(c)
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2
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3
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|
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Energy (renewable)
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0
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0
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2
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| |
Power generation
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2(c)
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0
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0
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Infrastructure
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1
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2
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0
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Chemical
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0
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0
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1
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Transportation
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0
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1
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0
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(A) When a project is
proposed for financing, RBC categorizes the project based
on the magnitude of its potential impacts and risks in accordance
with the environmental and social screening criteria of
the International Finance Corporation. Category A represents
projects with potential significant adverse social or environmental
impacts that are diverse, irreversible or unprecedented.
Category B represents projects with potential limited adverse
social or environmental impacts that are few in number,
generally site-specific, largely reversible and readily
addressed through mitigation measures. Category C represents
projects with minimal or no social or environmental impacts.
For additional information, visit equator-principles.com.
(B) OECD is the Organisation for Economic Co-operation
and Development. To view OECD member countries please refer
to the OECD website.
(C) RBC took an advisory role only in these projects,
and provided no financing.
For additional information please visit:
Equator Principles
