De Equator Principles
The Equator Principles is a risk management framework, for determining, assessing, and managing environmental and social risk in project finance. In order to conclude that Windpark Kroningswind complies with the Equator Principles July 2020 (“EPIV July 2020”) Windpark Kroningswind fulfilled a Climate Change Risk Assessment (CCRA) and a Human Rights Assessment (HRA).
The conclusion of the Climate Change Risk Assessment is that measures to manage climate change risks are not necessary at this stage, other than maintaining a watching brief. The risks are either limited/low or already managed at a governmental level.
For the Human Rights Assessment it can be concluded that there are human right risks but that these can be considered of low risk as these are covered by specific country laws, regulations, permits and contractor commitments and procedures. The HRA does however identify that, although the project logs stakeholder complaints and grievance mechanisms are in place for employees and stakeholders with the relevant governmental authorities, the Project Company is still to formalise a written grievance mechanism for these parties during the construction and operations phase of the Project.
Based on the Climate Change Risk Assessment (CCRA) and a Human Rights Assessment (HRA, it can be concluded that, as located in a designated country, Windpark Kroningswind is deemed to comply with the EPIV July 2020 provided that it maintains compliance with the Dutch regulatory environmental health, safety and security framework.
An extract of the full assessment can be provided at request.