There is clear recognition that the social risk management will be the harder part of the Equator Principles to implement. Scott Wilson are fortunate to have a well established social team, with an international reputation who can provide banks and project sponsors with the advice and guidance they need.
Equator principles: Revisions raise social hurdles – By Demetri Sevastopulo
…Ms Kyte [IFC] agrees that banks will have more difficulty tackling community issues. She says they will be forced to rely on outside consultants because they have far less experience dealing with social issues than with environmental issues.
She adds that this could be complicated by the fact that there is a scarcity of outside experts with experience in issues such as community relations.
Ms Kyte says that while the IFC advises clients on such issues, it has “stopped at the point of providing consulting services to non-clients”.