The Equator Principles set a minimum standard for lender due diligence and monitoring to support environmentally and socially responsible decision-making when financing projects. The latest iteration, known as EP4, came into effect in October 2020 and makes significant changes affecting lenders and sponsors – most notably for projects in high-income countries, such as the US and UK. Under EP4, project sponsors need to engage early in developing an environmental and social impact assessment, among many other considerations, for projects in such countries. In this episode of Connected With Latham, London finance partners Matthew Brown and Chirag Sanghrajka speak with Los Angeles counsel Josh Marnitz about the consequences of EP4 for lenders and sponsors, and how they can keep projects on schedule by planning for EP4 compliance.
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