UK GIB signs up to ethical investment framework
The UK Green Investment Bank (GIB) has signed up to the 'Equator Principles': the global ethical investment framework.
Founded in 2003, the Equator Principles provide a globally consistent governance model to assess and manage environmental and social risk in financing.
GIB will join more than 75 financial institutions in adopting the Equator Principles, all of whom have committed to apply a consistently high standard of environmental and social assessment to their investments.
Along with other adoptees, GIB will not provide finance to projects where the client will not, or is unable to, comply with the Equator Principles.
GIB CEO Shaun Kingsbury said: "As the world's first dedicated green investment bank we carry a special responsibility to ensure that all our investments meet best in class environmental and social standards. We have published market leading green investment policies which set out how we do that in very practical terms.
"The Equator Principles have offered an important framework to bring consistency to global investment practice and we are delighted to become a signatory."