As previously stated, the EPFIs launched revised Equator Principles, EPII, to resolve many of these criticisms.
The EPFIs revised the Equator Principles and launched the EPII in June 2006.
(214) Based on client feedback, the EPFIs incorporated suggested changes into a proposed EPII and released this version for public comment.
The EPII implement several changes that attempt to address the public's critiques of the original Equator Principles.
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.
Currently, thirty-three of the forty original institutions to adopt the original Equator Principles have adopted the EPII. (237) Because EPFIs have only recently adopted the EPII, little information exists regarding their effect on the marketplace.