10 Years ‘Equator Principles’: A Critical Economic-Ethical Analysis

37 Pages Posted: 27 Nov 2013 Last revised: 24 Jan 2014

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Date Written: 2013

Abstract

June 4th, 2013 marks the formal launch of the third generation of the Equator Principles (EP III) and the tenth anniversary of the EPs – enough reasons for evaluating the EPs initiative from an economic ethics and business ethics perspectives. In particular, this essay deals with the following questions: What are the EPs and where are they going? What has been achieved so far by the EPs? What are the strengths and weaknesses of the EPs? Which necessary reform steps need to be adopted in order to further strengthen the EPs framework? Can the EPs be regarded as a role-model in the field of sustainable finance and CSR? The paper is structured as follows: The first chapter defines the term EPs and introduces the keywords related to the EPs framework. The second chapter gives a brief overview of the history of the EPs. The third chapter discusses the Equator Principles Association, the governing, administering, and managing institution behind the EPs. The fourth chapter summarizes the main features and characteristics of the newly released third generation of the EPs. The fifth chapter critically evaluates the EP III from an economic ethics and business ethics perspectives. The paper concludes with a summary of the main findings.

Keywords: Equator Principles, Equator Principles Association, project finance, reputational risk, corporate social responsibility, sustainable finance, multinational companies/business and human rights

Suggested Citation

Wörsdörfer, Manuel, 10 Years ‘Equator Principles’: A Critical Economic-Ethical Analysis (2013). Osgoode CLPE Research Paper No. 54/2013. Available at SSRN: https://ssrn.com/abstract=2359573 or http://dx.doi.org/10.2139/ssrn.2359573

Manuel Wörsdörfer (Contact Author)

University of Maine ( email )

Orono, ME 04469
United States

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