Contribution to the Equator principles development
Since the adoption in 2007, Societe Generale is actively involved in the work performed by the Equator Principles Association, for instance through its participation to the EP Association Annual Meetings every year and the EP workshops held for the occasion.
Recent experience has highlighted the challenges of a differentiated approach between Designated and non-Designated countries in the Equator Principles. As a result, in May 2017, Societe Generale teamed up with 9 other EPFIs to raise to the EP Association our concerns on the subject and to ask the Association to rapidly adapt the current risk assessment framework, in line with international best practices. This is crucial with respect to critical issues such as the rights of indigenous peoples and biodiversity conservation.
This led to the formation of the Designated Countries Working Group that will re-examine the distinction between Designated (i.e. High Income OECD) and non-Designated countries in the EPs, particularly for Category A projects. Societe Generale intends to be an active participant within this newly created working group.