||In the past, the financial industry did not think they should be responsible for the environment destruction. In recent years, however, the impact on the environment from the financial industry is gradually viewed by people. As the supplier of funds for enterprise, financialindustry has the power to allocate the resources to the community. It is no doubt that the financial industry is one of the backstage driving forces for the environment destruction. Therefore, the risk management becomes an issue that can′t be ignored. More and more environmental groups and NGO groups have make efforts to call on financial institutions to take responsibilities of supervision and management for each loan they made. Therefore, the Equator Principles, a framework of environmental and socialguidelines for financing and advising on infrastructureprojects, was set up. It stipulates why and how financial institutions should consider environmental and social issues in their project finance operations.|
This paper will be divided into several sections. The first section will introduce the origin, the background and the evolution of the Equator Principles. The second section will discuss what kind of the institutional conditions that induce financial institutions to adopt the Equator Principles. We will analysis the reasons why some of financial institutions agree to adopt the voluntary principle, and even incorporate them into their internal risk management procedure. However, there are still some financial institutions that have not adopted it. In this paper, we will take Mizuho Bank, Ltd. and China Development Bank for example to analysis what will be changed after adopted the Equator Principles and what reasons hinder other banks to adopt it. Finally, we will review the research we made and give some suggestions to our domestic financial industry to promote their global competition, and furthermore, to fulfill their sustainable development.
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﹝1﹞ 赤道原則官網 http://www.equator-principles.com
﹝2﹞ 國際金融公司官網 http://www.ifc.org/
﹝3﹞ 世界銀行官網 http://www.worldbank.org/
﹝4﹞ Worldwide Governance Indicators (WGI) http://info.worldbank.org/governance/wgi/index.aspx - home
﹝5﹞ BankTrsck官網 http://www.banktrack.org/
﹝6﹞ 瑞穗集團官網 http://www.mizuho-fg.co.jp/english/index.html
﹝7﹞ 花旗集團官網 http://www.citigroup.com/
﹝8﹞ 花旗2013 Code of Conduct http://www.citigroup.com/citi/investor/data/codeconduct_en.pdf
﹝9﹞ 國家開發銀行官網 http://www.cdb.com.cn/web/
﹝10﹞ 《中國金融》雜誌：開發性金融的國家使命 http://www.cdb.com.cn/web/NewsInfo.asp?NewsId=5191
﹝11﹞ 德意志銀行官網 https://www.db.com/index_e.htm
﹝12﹞ 德意志銀行Corporate Responsibility Report 2013
﹝13﹞ Thomson Reuters, 2013 Global Project Finance Review http://dmi.thomsonreuters.com/Content/Files/3Q2013_Global_Project_Finance_Review.pdf