First, the EPII broaden the scope of the Equator Principles by decreasing the monetary threshold requirement.
In addition to the changes in the Principles' scope, the EPII also incorporate substantive changes.
In addition, the EPII create a grievance mechanism for Category A and certain Category B projects.
The EPII also address the accountability critiques in several ways.
In addition to these covenants, the EPII also include independent review requirements.
However, the EPII are an important evolution to private environmental action.
Although the EPII mandate an increase in the number of covenant requirements between the bank and borrower, little information exists regarding the fulfillment of this obligation beyond what the bank makes publicly available.