Word: kretzmann
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Dates: during 2000-2009
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Veteran green campaigners have been surprised by the speed with which banks have embraced change. "I think that many activists may have assumed that bankers were priests of the Church of Greed," says Steve Kretzmann, director of Oil Change, a Washington group that specializes in tracking project finance. "But many bank representatives have a sophisticated and advanced sense of the environmental, social and reputational risks...
...endangered western gray whale. Without adequate transparency and monitoring of sensitive projects, NGOs fear, the Equator Principles will become meaningless. "What good is a series of principles like this if you can't verify that they are being applied on a project-by-project basis?" asks Oil Change's Kretzmann. "Equator banks are saying to people, 'Trust us,' but they are not allowing any independent verification. That's a problem...
...Veteran green campaigners have been surprised by the speed with which banks have embraced change. "I think that many activists may have assumed that bankers were priests of the Church of Greed," says Steve Kretzmann, director of Oil Change, a Washington group that specializes in tracking project finance. "But many bank representatives have a sophisticated and advanced sense of the environmental, social and reputational risks...
...Western gray whale. Without adequate transparency and monitoring of sensitive projects, ngos fear the Equator Principles will become meaningless. "What good is a series of principles like this is if you can't verify that they are being applied on a project-by-project basis?" asks Oil Change's Kretzmann. "Equator banks are saying to people 'Trust us,' but not allowing any independent verification. That's a problem...