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Issues in Social and Environmental Accounting

ISSN : 1978-0591
Volume 1 Number 1, Published Online: 25 Juni 2007

ISEA 2009 Indonesian Center for Social and Environmental Research and Development
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The Equator Principles, Project Finance and the Challenge of Social and Environmental Responsibility


By
Jane Andrew
Keywords
Ethical Banking, Responsible Finance, Corporate Social Responsibility, Equator Principles, Environmental Responsibility, Corporate Codes of Conduct.
Abstract
The Equator Principles, launched in 2003 and revamped in 2006, are a set of voluntary principles designed to help private lenders make socially and environmentally responsible project financing decisions. This paper explores the impact of these principles on the disclosures of two signatory banks, focusing on type of information disclosures that have resulted and the substance of these disclosures. The work considers whether it is possible to ascertain from publicly available information how the practices of the banks may have changed in order to focus on their stated social and environmental responsibilities. It is concluded that although the Equator Principles have marked the beginning of the banking sectors acknowledgement of their role in social and environmental responsibility, at this stage insufficient information is being disclosed to determine the impact these principles are having on actual banking practices.
Copyrights
Copyright 2009 by Issues In Social and Environmental Accounting. Verbatim copying and distribution of this entire article is permitted by author in any medium, provided this notice is preserved.
 

Published Online: 25 Juni 2007
 

EDITOR IN CHIEF

Hasan Fauzi
Faculty of Economics
Sebelas Maret University, Indonesia


ASSOCIATE EDITORS

Mostaq M. Hussain
University of New Brunswick
Canada

Khomsiyah
Trisakti University
Indonesia


EDITORS ADVISORS

Jayne Fuglister
Cleveland State University
USA

Rob Gray
St. Andrews University
UK

Ainun Na’im
Gadjah Mada University
Indonesia

Akhmad Syakhroza
University of Indonesia
Indonesia


EDITORIAL BOARD

Carol Adams
La Trobe University
Australia

Husam Aldeen Al-Khadash
Hashemite University
Jordania

Güler Aras
Yildiz Technical University
Turkey

Amanda Ball
University of Canterbury
New Zealand

Ataur Belal
Ashton University
UK

Shawn Berman
Santa Clara University
USA

Judy Brown
Victoria University of Wellington
New Zealand

Alistair Brown
Curtin University of Technology
Australia

David J. Campbell
University of New Castle
UK

Jennifer C. Chen
Brigham Young University
Hawaii, USA

Charles H. Cho
Concordia University
Canada

Jong-Seo Choi
Pusan National University
Korea

David Crowther
De Montfort University
UK

Gabriel D. Donleavy
University of Macau
China

Evangeline Elijido-Ten
Swinburne University of Technology
Australia

Martin Freedman
Towson University
USA

Edward Freeman
University of Virginia
USA

Georgios Georgakopoulos
University of Limerick
Ireland

Imam Ghazali
University of Diponegoro
Indonesia

James Guthrie
The University of Sydney
Australia

Bryan Husted
ITESM/Instituto de Empresa
Mexico

Daing N. Ibrahim
Universiti Sains Malaysia
Malaysia

Kamil Md. Idris
Universiti Utara Malaysia
Malaysia

Christine Maria Jasch
The Institute for Environmental Managementand Economics
Austria

Pamela Kent
Univesity of Queensland
Australia

Katsuhiko Kokubu
Kobe University
Japan

Matias Laine
University of Tampere
Finland

Carlos Larrinaga-González
Burgos University
Spain

Stewart Lawrence
University of Waikato
New Zealand

Vanessa Magness
Ryerson University
Canada

Lois Mahoney
Eastern Michigan University
USA

Nicholas Mangos
Flinders University of South Australia
Australia

Keith Maunders
University of the South Pacific
Fiji

Alan Murray
Sheffield University
UK

Nik Nazli Nik Ahmad
International Islamic University Malaysia
Malaysia

Garry O’Donovan
University of Tasmania
Australia

Marc Orlitzky
University of Redlands
USA

Lee Parker
University of South Australia
Australia

Den Paten
Illonois State University
USA

Sophie Marquet Pondeville
University of Namur
Belgium

Azhar A. Rahman
Universiti Utara Malaysia
Malaysia

Abdul A. Rasheed
University of Texas at Arlington
USA

Robin Roberts
University of Central Florida
USA

Deborah Savage
EMA Research & Information Center (EMARIC)
USA

Stefan Schaltegger
University of Lueneburg
Germany

Swagata Sen
University of Calcutta
India

Pamela Stapleton
University of Manchester
UK

Djoko Suhardjanto
Sebelas Maret University
Indonesia

Bambang Sutopo
Sebelas Maret University
Indonesia

Goran Swensson
Oslo School of Management
Norwa


EDITORIAL SECRETARY

Siti Nafi’ah
Sebelas Maret University
Indonesia

Author Guideline

  1. The papers should address copies of all papers and editorial correspondence to the Editor.
  2. The cover of the papers should contain the following:
    • Title of paper.
    • Name of author(s), including the name of the corresponding author for co-authored papers.
    • Institutional affiliation of author(s) including telephone, facsimile and email address (es).
    • Date of submission and, where applicable, date(s) of resubmission.
    • Any acknowledgement, not exceeding 50 words. An acknowledgement should not be included in the consecutive number of other notes.
  3. An abstract of no more than 150 words should be presented, along with the title of the manuscript, on a separate page immediately preceding the text of the manuscript. Up to eight key words should also be provided.
  4. Papers for review should be submitted electronically to Hasan Fauzi at the following address: fauzi2003@indo.net.id (However, it is also recommended to send the copy to hfauzi2003@gmail.com). Papers should be double-spaced, generally of not more than 8,500 words, including references, and all pages should be numbered. Papers currently under review for publication in other outlets should not be submitted.
  5. Headings should be formatted so that major headings are flush left, bold, lower case and two font sizes larger than the main text. Second level headings should be flush left, bold, lower case and same size as main text. Third level headings should be flush left, italics, lower case and same size as main text.
  6. Figures, tables, diagrams and appendices should be numbered consecutively and titled.
  7. Notes should appear as endnotes and be numbered consecutively. These should begin on a separate page at the end of the manuscript.
  8. References in both text and end notes should follow Harvard style. Refers text thus: (author, date: page). The following guidelines should be followed
Books
Gray, R., Owen, D. & Adams, C. (1996) Accounting and Accountability: Changes and Challenges in Corporate Social and Environmental Reporting. Essex: Prentice Hall Europe

Articles in Edited Books
Parker, L.D. (1997) "Practitioner Perspectives on Personal Conduct: Images from the World of Business, 1900-55", in Cooke, T.E. and Nobes, C.W. (eds.) The Development of Accounting in an International Context: A Festschrift in Honour of R.H. Parker, pp.68-89. London: Routledge.

Journal Articles
Mathews, M.R. (1997) “Twenty-five years of social and environmental accounting research: Is there a silver jubilee to celebrate?”, Accounting, Auditing and Accountability Journal, Vol. 10, No. 4., pp. 481 - 531.

Papers
Loft, A. (2003) "The Accounting Machine and its Woman Operator: Beyond the Boundaries of Accounting's History" The third Accounting History International Conference, Siena, September 2003.

Websites
Orlitzky, M. (2001) "Does Firm Size Confound the Relationship between Corporate Social Performance and Firm Financial Performance?" http://www.ssn.flinder.edu.au/commerce/aig/acsymp2001/orlitzky.doc