COSIDERACIÓN DEL FACTOR AMBIENTAL EN LA FINANCIACIÓN DE GRANDES PROYECTOS A TRAVÉS DE LOS PRINCIPIOS DE ECUADOR

Abstract

The most important project finance are being shaped through the financial sector’s demand of a strict fulfilment of the required environmental standards, due to its commitment to the Equator Principles. No other measure has ever obtained better results in the control and standardization of projects. The assessment of the environmental impact in major projects is nowadays one of the most important requirement in the analysis of their feasibility, following the idea of sustainable development. In spite of that, the existence of both a legal framework to regulate any environmental measure and an efficient administrative mechanism to apply such measures, is today an option only available in developed economies. The rest are still debating between developing models and alert calls related to the environmental situation of the country. Equator’s principles emerge in this context. They have evolved from a simple declaration of respect for the environmental standards developed by the International Finance Corporation to a situation in which the main financial organizations have seen themselves morally forced to develop and improve their credit activities within these self-required models, which will change relations with their clients. The requirements imposed to borrowers, have reached a status comparable to a legal regulation. Keywords: Equator principles, project finance, sustainable development.