Bank Track’s research into Research into 37 projects financed 'under Equator' finds project-level grievance mechanisms or stakeholder engagement processes cannot be evidenced in two-thirds (65 per cent) of cases.

New research banks' rules for financing large infrastructure projects looked at 108 financial institutions and found that the existence of a stakeholder engagement process or project-level complaints mechanisms cannot be evidenced in 24 out of 37 projects analysed.

BankTrack’s new briefing paper, Trust us, we’re Equator Banks, details that in several instances, banks responded to the initial findings by insisting that stakeholder engagement or grievance processes are in place on the ground, but that the bank financing the project is unable to provide any references or evidence to support this, including for reasons of ‘client confidentiality’.

Following the results of this research, BankTrack is calling on the Equator Principles Association (EPA) to ensure that compliance with the Principles does not need to be taken on trust, and to ensure a compliance report is made publicly available by banks setting out how each of the ten principles have been implemented for each project financed under the Principles, with links to grievance processes and other key documents. Where EPFIs repeatedly do not show evidence of EP compliance, they should be de-listed.

BankTrack Equator Principles project database.

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