9 state-backed banks adopt Equator Principles
The Ministry of Finance reports that nine government-invested financial institutions in Taiwan have adopted the "Equator Principles" to evaluate social and environmental risks on projects they might be funding.
They serve as a common baseline and risk management framework for financial institutions to identify, assess and manage environmental and social risks when they are considering extending loans for large infrastructure and industrial projects.
The MOF says such ventures can adversely affect people and the environment.
Each member of the EPA is known as an Equator Principles Financial Institution.
Taiwan Business Bank was the most recent government-invested financial company to join the Equator Principles Association on 16 September.
The first Taiwan-based government-invested financial institution to join the EPA was First Commercial Bank, followed by Mega International Commercial Bank and Taiwan Cooperative Financial Holding Co.