Citi, BofA, JPMorgan Chase and Wells Fargo leave framework that assesses environmental, social and governance (ESG) financing
Four of the world’s biggest banks have left the Equator Principles, a set of minimum industry standards and safeguards for financial institutions to address environmental and social risks in countries where they finance fossil fuel and mining projects.
The Equator Principles have been around for more than two decades, and while not enforceable, they provide a basic framework of environmental standards that banks agreed would underpin financing deals on pollution-causing extractive projects.
About Author
More Stories
KFC plans to invest £1.5bn in UK and Ireland, creating thousands of jobs
Leading tax expert calls out ‘confected outrage’ of wealthy Australians over Labor’s $3m super plan
Shein turns to Hong Kong for flotation as London attempt stalls, reports say