BankTrack
Encyclopedia
BankTrack is a global network of non-governmental organizations cooperating on the field of private banks and sustainability
. BankTrack uses direct action, lobbying and research to achieve it goals. BankTrack focuses primarily on the work of private banks, and their involvement in projects that are a risk to society.
The network exists out of thirty organizations, amongst whom Greenpeace
and Friends of the Earth
. The network was formally established in 2005, but in 2003 the beginning of BankTrack was marked by drawing the Collevechio declaration. In this declaration, the members of then declared they would urge private banks to invest in a sustainable way.
BankTrack releases research reports that are used by many organizations, banks and analysts. The research always focuses on the performance of banks in certain projects. In 2009 BankTrack will release a new report about the credit policies of 56 banks worldwide. Amongst these banks are the largest ones in the world, for example: HSBC, Citi, Société Générale, ING, Deutsche Bank and Unicredit.
Equator Principles
BankTrack closely monitors the evolvement Equator Principles. These are voluntary principles that banks can enhance when financing projects. At June 4, 2003 the Equator Principles
were signed by a small number of banks. At the moment over 70 private banks have adopted the principles. At the end of 2009, the Performance Standards of the IFC
will be reviewed. Since the Equator Principles are following these standards, they will be reviewed as well.
Sustainability
Sustainability is the capacity to endure. For humans, sustainability is the long-term maintenance of well being, which has environmental, economic, and social dimensions, and encompasses the concept of union, an interdependent relationship and mutual responsible position with all living and non...
. BankTrack uses direct action, lobbying and research to achieve it goals. BankTrack focuses primarily on the work of private banks, and their involvement in projects that are a risk to society.
The network exists out of thirty organizations, amongst whom Greenpeace
Greenpeace
Greenpeace is a non-governmental environmental organization with offices in over forty countries and with an international coordinating body in Amsterdam, The Netherlands...
and Friends of the Earth
Friends of the Earth
Friends of the Earth International is an international network of environmental organizations in 76 countries.FOEI is assisted by a small secretariat which provides support for the network and its agreed major campaigns...
. The network was formally established in 2005, but in 2003 the beginning of BankTrack was marked by drawing the Collevechio declaration. In this declaration, the members of then declared they would urge private banks to invest in a sustainable way.
BankTrack releases research reports that are used by many organizations, banks and analysts. The research always focuses on the performance of banks in certain projects. In 2009 BankTrack will release a new report about the credit policies of 56 banks worldwide. Amongst these banks are the largest ones in the world, for example: HSBC, Citi, Société Générale, ING, Deutsche Bank and Unicredit.
Equator Principles
BankTrack closely monitors the evolvement Equator Principles. These are voluntary principles that banks can enhance when financing projects. At June 4, 2003 the Equator Principles
Equator Principles
The Equator Principles are a voluntary set of standards for determining, assessing and managing social and environmental risk in project financing....
were signed by a small number of banks. At the moment over 70 private banks have adopted the principles. At the end of 2009, the Performance Standards of the IFC
International Finance Corporation
The International Finance Corporation promotes sustainable private sector investment in developing countries.IFC is a member of the World Bank Group and is headquartered in Washington, D.C., United States....
will be reviewed. Since the Equator Principles are following these standards, they will be reviewed as well.