Fortis have recently set up a new unit to manage their environmental and social risks, and implement the Equator Principles. This is an extremely positive step for another leading project finance bank, and it is encouraging to see that this commitment to risk management comes from the top.
BRUSSELS/UTRECHT, 17 February 2006 — Fortis has adopted the Equator Principles – guidelines for responsible project financing. Fortis will apply the principles globally to project finance for all industry sectors. Full implementation is expected to take six months. In adopting the Equator Principles, Fortis joins a group of 40 leading international financial institutions. Together, they underwrite more than 75% of all project finance transactions worldwide.’
Fortis wants to grow in a responsible way,’ explains Filip Dierckx, CEO of Merchant Banking and Fortis Executive Committee Member: ‘By adopting the Equator Principles, Fortis is taking another step towards enhancing sustainability. Outstanding financial results are not the end of the story. We are fully committed to increasing Fortis’s performance in this important area; doing business in a way that does not have a harmful environmental or social impact.’ Full text of press release