Lloyds TSB and HBOS are both signatories to the Equator Principles for responsible lending in project finance. The Principles provide a framework for assessing and managing social and environmental impacts, and apply to all new lending over US$10m within the Basel II definition of project finance.
The Principles are designed to ensure that projects funded by Equator Principles signatories are undertaken in a manner that is socially responsible and reflects sound environmental management practices. Specifically, they seek to strengthen local legislative frameworks in low-income, non-OECD states through conformity with World Bank Guidelines and IFC Performance Standards.
The Principles are a globally-recognised benchmark, adopted by 68 financial institutions worldwide, representing around 90% of all project financing. Adoptees are required to report annually on their progress at implementing the Principles, and on those transactions to which the Principles apply.
The latest Lloyds TSB and HBOS reports.
