We develop, implement and invest in initiatives across these pillars in order to maximize our positive impact on the world. Generated $35.3 billion of sustainable finance activity in 2022, including green, social, sustainability and sustainability-linked bonds, loans and M&A advisory services. Scotiabank's approach to Environment, Social and Governance (ESG) focuses on four pillars Environmental Action, Economic Resilience, Inclusive Society, and Leadership & Governance. xref Scotiabank is a leading bank in the Americas. You can manage your preferences, How Friendlier takeout containers can help cut down on plastic waste, How Friendlier can help cut down on plastic waste, Sustainable finance takes note of biodiversity risks and opportunities, Read the full story on biodiversity earning increased attention, A closer look at the numbers of the ScotiaRISE initiative. As data improves and advancements in emission-reducing policies, strategies and technologies are realized, the Bank will refine the interim targets and continue to report transparently on progress. ScotiaRISE has supported more than 200 community partners with community investments in a 10-year, $500 million initiative to promote economic resilience among disadvantaged groups. With a team of over 90,000 employees and assets of over $1.3 trillion (as at January 31, 2023), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). Y+.6 Xq#{+`8V\8r2,c#ce@`Y+.0YFb%@+(Yc%J+XXqe This year's report provides updates on the Bank's enhanced climate reporting, net-zero transition activities, and progress on its ScotiaRISE program, and integrates the Bank's Canadian Public Accountability Statement. 0000020459 00000 n "Banks are drivers of prosperity, partners that enable the success of businesses small and large, a critical part of the social fabric, and engines of economic growth," said Brian Porter, President & CEO Scotiabank. Scotiabank's 2022 ESG Report demonstrates the Bank's ongoing commitment to transparency, reporting on key ESG topics across its four-pillars Environmental Action, Economic Resilience, Inclusive Society and Leadership and Governance. By working to remove barriers to advancement, increasing access to opportunities, combating bias and racism and leveraging impactful community partnerships to advance the diverse communities and cultures we serve, we can create a better, more equitable future for our customers, employees, communities, and our Bank. Scotiabank's customer focus starts with taking care of its more than 97,000 employees around the world. To read more about Scotiabank's net-zero strategy and climate commitments, visitwww.scotiabank.com/sustainability. 0 "Scotiabankers remain deeply committed to advancing environmental, social, and governmental issues, while continually delivering for our customers, shareholders, and fellow employees," says Brian Porter, President and CEO of Scotiabank. 0000001495 00000 n We develop, implement and invest in initiatives across these pillars in order to maximize our positive impact on the world. Scotiabank reports on 2021 sustainability performance, announces net-zero strategy and a commitment to mobilize $350 billion in climate related financing. Environmental Protection Agency (EPA) Administrator Michael Regan took aim Friday morning at states that have sought to block hazardous waste from the East Palestine, Ohio, train derailment . Scotiabank's approach to Environment, Social and Governance (ESG) focuses on four pillars - Environmental Action, Economic Resilience, Inclusive Society, and Leadership & Governance. Scotiabank supports opportunities for the children and communities in which we live and work, building a brighter future for everyone. +N\,c*r\Hkm3@`]{H~cNnoy`aSmbP!+(F2SW3Wx-;vvCBRY? Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, 2021 Environment, Social and Governance Report, Joined the United-Nations-convened Net-Zero Banking Alliance, Achieved 25% reduction of Scope 1 and 2 GHG emissions (from 2016 levels), four years ahead of our 2025 target; on track to meet our target of 100% non-emitting electricity for Canadian operations by 2025 and 100% for our global footprint by 2030, Improved employee benefits coverage including providing gender affirmation healthcare benefits and significantly increasing coverage related to mental health, Named to Bloomberg's Gender-Equality Index and ranked in the top 20 of the Top 100 Most Diverse and Inclusive Companies by Refinitiv, Listed on the Dow Jones Sustainability Index North America for the fourth consecutive year with top marks for Corporate Governance and perfect scores for Anti-crime Policy, Environmental Reporting, and Risk & Crisis Management, Enhanced our global Human Rights Statement, improving its alignment with best practices and the UN Guiding Principles Reporting Framework, Achieving net-zero operations by 2030, including securing 100% non-emitting electricity in, Reducing Scope 1 and 2 emissions intensity of our Oil and Gas portfolio by 30% and reduce Scope 3 emissions intensity by approximately 1525% by 2030, Reduce Scope 1 and 2 emissions intensity of our Power and Utilities portfolio by 55-60%, by 2030. You can manage your preferences. As a global financial institution, we believe that long-term economic growth must co-exist with strong environmental action. When typing in this field, a list of search results will appear and be automatically updated as you type. Scotiabank releases its 2020 Environment, Social and Governance (ESG) Report highlighting progress in Diversity and Inclusion, Climate and Sustainable Finance, For further information: For media inquiries only: Stephanie Cangelosi, Scotiabank Global Communications, 416-816-5453, Stephanie.Cangelosi@scotiabank.com, 2020 Environment, Social and Governance Report, Achieved a 20% reduction in operational greenhouse gas emissions from 2016 levels, Committed to secure 100% of electricity on a global basis from non-emitting sources by 2030; with an interim target of 100% for Canadian operations by 2025, Launched renewed five-year Diversity and Inclusion Goals, with a focus on people who identify as Black, Indigenous peoples, visible minorities, People with Disabilities and Women, Signed the BlackNorth Initiative CEO pledge, which outlines seven goals for organizations aimed at helping to end anti-Black systemic racism and creating opportunities for all of those in the underrepresented Black, Indigenous and People of Colour (BIPOC) communities, For the third consecutive year, achieved top 1% in Corporate Governance among financial institutions globally according to the Dow Jones Sustainability Index, and awarded a perfect score on Anti-Crime Policies, Strengthened our commitment to responsible procurement and supplier diversity by joining the, Surpassed a 30% target of women on our Board of Directors with 42% of our nominated directors as women. By working with stakeholders at all levels across our entire value chain, we are best positioned to build a better future. TORONTO, April 1, 2021 /CNW/ - Scotiabank today released its 2020 Environment, Social and Governance Report, a comprehensive review of the Bank's progress in delivering for every future. Scotiabank understands the importance of healthy, vibrant communities, so we strive to work in ways that benefit our communities as well as our customers and stakeholders. "We reached a number of important milestones, including launching our inaugural Net-Zero Pathways Report, ScotiaRISE Impact Report, and Allyship Summit, amongst other achievements. We are very proud of the Bank's many contributions to these critically important areas.". 89 0 obj <>stream TORONTO, March 15, 2022 /CNW/ - Scotiabank today released its2021 Environment, Social and Governance Report, a comprehensive review of the Bank's progress against its ESG commitments according to four key pillars Environmental Action, Economic Resilience, Inclusive Society, and Leadership & Governance. Examples of Economic Progress at work inside our own operation: Employee training and reskillingScotiaAcademy. With a team of approximately 90,000 employees and assets of approximately $1.2 trillion (as at January 31, 2022), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). To date Scotiabank is 90% of the way towards meeting this target. implementing a Climate Change Risk Assessment to further integrate the considerations of climate change into risk management and credit adjudication; creating an enterprise-wide Climate Action and Environmental Employee Resource Group. CDP - a not-for-profit organization known for its global disclosure system for environmental reporting - awarded Scotiabank high marks for its transparency and actions taken in the following categories: "How we choose to bank impacts the world around us, particularly in relation to environmental, social, and governance issues. Inclusion doesnt happen on its own. Scotiabank is a Leading Bank in the Americas. Annual reporting on the Bank's sustainability activities features progress updates on net-zero targets and support for community investment and economic resilience initiatives. 0000002766 00000 n With a team of over 90,000 employees and assets of approximately$1.1 trillion(as atOctober 31, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). Scotiabanks approach to Environmental, Social, and Governance (ESG) focuses on four pillars Environmental Action, Economic Resilience, Inclusive Society and Leadership & Governance. Scotiabank's approach to Environmental, Social, and Governance (ESG) focuses on four pillars Environmental Action, Economic Resilience, Inclusive Society and Leadership & Governance. 0000002175 00000 n /Type /ExtGState Scotiabank releases its 2020 Environment, Social and Governance (ESG) Report highlighting progress in Diversity and Inclusion, Climate and Sustainable Finance Commitments include joining the Partnership for Carbon Accounting Financials (PCAF) and pursuing a net-zero target in financed emissions With Canadas new ban on some single-use plastics, Scotiabank is implementing a pilot project for reusable takeout containers at its downtown headquarters. As a Leading Bank in the Americas, we remain steadfast in our commitment to drive positive change in communities where we bank and around the world, which includes addressing climate change and supporting the transition to a low-carbon economy.". As data improves and advancements in emission-reducing policies, strategies and technologies are realized, the Bank will refine the interim targets and continue to report transparently on progress. We are very proud of the Bank's many contributions to these critically important areas.". }WBKz3nj\/w,Gd]OUQ~wX=Ws?2!h?/~>"uKW\=?'tG1i5I ;V,x6WQ&}eGQ|YtB/.1>%jDO51f2Z? 1 0 obj ", "This report reflects the pivotal year we had in 2022, as we accelerated our ESG efforts across the Bank and made meaningful progress against our stated commitments," said Meigan Terry, SVP and Chief Sustainability, Social Impact and Communications Officer at Scotiabank. TORONTO, March 10, 2023 /CNW/ - Today, Scotiabank released its 2022 Environment, Social and Governance (ESG) Report. Scotiabank's corporate sustainability strategy includes the Bank's Climate Commitments and additional key initiatives such as: Launched ScotiaRISE, a 10-year, $500 million initiative to promote. |MSV++?_xnVD/*yb. startxref The Scotiabank Climate Commitments also include a commitment to governance and transparency in disclosure, something that CDP also recognizes. Key ESG highlights from the report include: In tandem with its ESG Report, today Scotiabank also released its inaugural Net-Zero Pathways Report, a comprehensive outline of the Bank's commitment to achieve net-zero emissions from our operations by 2030 and net-zero financed emissions by 2050, including interim financed emissions targets and actions for the Bank's priority high-emitting sectors. 65 0 obj <> endobj "Scotiabank recognizes that climate change is one of the most pressing issues of our time and we are committed to collaboration within and beyond our bank to increase the level of climate action," saysMeigan Terry, Senior Vice President, Global Communications & Social Impact. 0000016484 00000 n Ranked one of the top 25 World's Best Workplaces by Great Place to Work in 2022 the only Bank and the only Canadian-headquartered company to make the list. Contributed $91 million globally to communities through donations, community sponsorships, employee volunteering and other community investments. The report outlines Scotiabank's ongoing commitment to building a more resilient, inclusive and sustainable world by advancing the issues that matter most to customers, shareholders, employees, and communities. Example of how we are using our influence to advance Environmental Action on the World Around Us: Participation in CSA Transition Taxonomy development, Consultation with IFRS on Sustainability Reporting (via CBA). Urgent environmental action is needed to protect the planets future. As Chile pursues its climate and sustainable development targets, Scotiabank is delivering sustainable finance solutions to innovative Chilean companies. For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews. Scotiabank's commitment to the environment is reflected in its efforts to mobilize $96 billion in climate-related financing since November 1, 2018, towards a target of $350 billion by 2030. 2.1.4 Governance system The current governance system is based on democracy, which makes the business environment friendly for Scotiabank . /Producer ( Q t 4 . The following principles set out Scotiabank's approach to managing its environmental impacts: Be compliant with all environmental legal requirements in the countries in which we operate; Conduct our internal operations in a manner consistent with environmental Please visit our Corporate website to find out more about ourglobal CSR activities. TORONTO, Feb. 8, 2021 /CNW/ - As part of its continued efforts to combat climate change, Scotiabank has established a Net Zero Research Fund to initiate partnerships with leading think tanks and academic institutions that are supporting key sectors in their efforts to decarbonize. For more information, please visithttp://www.scotiabank.comand follow us on Twitter@ScotiabankViews. Scotiabank's 2022 ESG Report demonstrates the Bank's ongoing commitment to transparency, reporting on key ESG topics across its four-pillars Environmental Action, Economic Resilience,. 0000015764 00000 n We use cookies & other technologies to analyze website traffic, personalize content & provide relevant advertising on other websites. Scotiabank's approach to ESG focuses on four pillars - Environmental Action, Economic Resilience, Inclusive Society, and Leadership & Governance. Examples of Environmental Action from inside our own operation: Examples of Environmental Action in our business relationships with customers: Mobilizing $350 Billion Climate Commitment. Our dedicated team approach includes Social, Economic, Environmental, and Ethical considerations in our everyday business decisions. Good corporate governance is a critical part of Scotiabanks culture and fundamental to our long-term success. trailer Examples of how we are working for an Inclusive Society inside our own operation: Examples of how we are working for anInclusive Society with our customers: Example of how we are working for an Inclusive Society to the World Around Us: Strong corporate governance builds stakeholder trust. Overview of Scotiabank's Environmental Policy . 7) Annually, the ESG report provides key updates and insights into Scotiabank's progress on its environmental, social and governance initiatives in its operations, with its customers and in communities across its footprint. "How we choose to bank impacts the world around us, particularly in relation to environmental, social, and governance issues. 416-816-5453, Scotiabank Releases Its 2020 Environment, Social and Governance (ESG) Report Highlighting Progress in Diversity and Inclusion, Climate and Sustainable Finance, 2020 Environment, Social and Governance Report, Mobilized over $28 billion of the $100 billion committed to reduce the impacts of climate change by 2025, Served as bookrunner on more than $10 billion of green, social, sustainability and sustainability-linked bonds since 2014, Achieved a 20% reduction in operational greenhouse gas emissions from 2016 levels, Committed to secure 100% of electricity on a global basis from non-emitting sources by 2030; with an interim target of 100% for Canadian operations by 2025, Contributed nearly $85 million to communities through donations, community sponsorships, employee volunteering and other types of community investment, Launched ScotiaRISE a 10-year, $500 million initiative to promote economic resilience among disadvantaged groups, Donated $16.6 million to support people and communities most at risk during the COVID-19 pandemic, including $7.2 million in support of hospitals and healthcare professionals, Launched renewed five-year Diversity and Inclusion Goals, with a focus on people who identify as Black, Indigenous peoples, visible minorities, People with Disabilities and Women, Signed the BlackNorth Initiative CEO pledge, which outlines seven goals for organizations aimed at helping to end anti-Black systemic racism and creating opportunities for all of those in the underrepresented Black, Indigenous and People of Colour (BIPOC) communities, For the third consecutive year, achieved top 1% in Corporate Governance among financial institutions globally according to the Dow Jones Sustainability Index, and awarded a perfect score on Anti-Crime Policies, Strengthened our commitment to responsible procurement and supplier diversity by joining the, Surpassed a 30% target of women on our Board of Directors with 42% of our nominated directors as women. Implementing an internal carbon price in 2018 ($15/tonne of C02). {)9WaTUsgV~dNU_ZsZkTMv55c5a9w(Fa%Qk[ga VTh*N^q!G?PyK5C*?3U:o@{o`c/z: mobilizing over$28 billionin Green and Transition finance (sinceNovember 1, 2018); allocating proceeds from Scotiabank's inauguralUSD$500 million3.5-year Green Bond to green building and clean transportation projects as outlined in our. The recognition from CDP reaffirms that we are on the right track in managing and reporting on these important matters.". Copyright 2023 CNW Group Ltd. All Rights Reserved. Nature-based solutions are earning profile in the Americas, following early moves by European policy-makers and business leaders, notes Melissa Menzies, Associate Director, Sustainable Finance at Scotiabank: "There is growing recognition by corporations and governments around the role of nature-based solutions in creating climate resilience and . . << TORONTO,Dec. 18, 2020/3BL Media/ - Scotiabank is pleased to announce it has been awarded a grade of A- from the CDP(formerly known as the Carbon Disclosure Project) in recognition of its strong management of climate-related issues and transparency in its disclosures. Scotiabank will continue to support our clients, and their progress against their own low-carbon transition plans, by providing dedicated financing, expertise and thought-leadership. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. Scotiabank's Net-Zero Commitments include: This is an important milestone, marking the start of an iterative and evolving process. The Bank's 2020 ESG Report is a comprehensive review of our progress in delivering for every future. By leveraging our influence to uphold the health of our planet, we lay strong foundations that will endure for decades to come. Our dedicated team approach includes Social, Economic, Environmental, and Ethical considerations in our everyday business decisions. Corporate Social Responsibility means supporting and strengthening the communities were part of. With a team of approximately 90,000 employees and assets of approximately $1.2 trillion (as at January 31, 2022), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). Key ESG highlights from the report include: Scotiabank continues to demonstrate our commitment to environmental action through our more recent climate-related initiatives and programs: For more information about Scotiabank's approach to addressing ESG please visit www.scotiabank.com/sustainability. Sign up for updates on the ways we are using our size, scale and influence to advance progress in the places we operate. "Purpose is embedded in Scotiabank's DNAwe're here for every future, to help our customers, colleagues, shareholders, and communities thrive," said Scott Thomson, President & CEO of Scotiabank. Scotiabank in the Caribbean and Central America. /Creator ( w k h t m l t o p d f 0 . 4 0 obj 0000016706 00000 n initiatives to reduce greenhouse gas emissions from the Bank's operations, and robust third-party verification of operational data; integration of climate-related risk management in lending; and. endstream endobj 66 0 obj <>/Metadata 5 0 R/PieceInfo<>>>/Pages 4 0 R/PageLayout/OneColumn/OCProperties<>/OCGs[67 0 R]>>/StructTreeRoot 7 0 R/Type/Catalog/Lang( E N - U S)/LastModified(D:20100406201910)/PageLabels 2 0 R>> endobj 67 0 obj <. 5) Other environmental achievements to date include: Setting a global target to achieve 10% reduction in Scope 1 and 2 GHG emissions by 2021 (based on 2016 levels). As part of our commitment to sustainability initiatives, we are supporters, signatories or members of the following: See more recognitions for Scotiabank on Our Awards and Accolades for Sustainable Finance. Scotiabank has been in Bahamas since 1956. Enabling sustainable development and the transition to a low-carbon economy. To read more about Scotiabank's net-zero strategy and climate commitments, visitwww.scotiabank.com/sustainability. Scotiabank will continue to support our clients, and their progress against their own low-carbon transition plans, by providing dedicated financing, expertise and thought-leadership. And we invest in the economic resilience of communities where we live and work. We have the most control and ability to drive positive change in our operations. Please also refer to page 16 in the Bank's Annual Report and our caution regarding forward-looking statements. Outlined net-zero activities and granted $2 million to 21 organizations exploring decarbonization and climate-related systems change since the launch of Scotiabank's $10 million Net- Zero Research Fund in 2021. Scotiabank releases its annual ESG Report and companion inaugural Net-Zero Pathways Report, For further information: Fiona Johnston, Scotiabank, fiona.johnston@scotiabank.com, 2021 Environment, Social and Governance Report, Joined the United-Nations-convened Net-Zero Banking Alliance, Achieved 25% reduction of Scope 1 and 2 GHG emissions (from 2016 levels), four years ahead of our 2025 target; on track to meet our target of 100% non-emitting electricity for Canadian operations by 2025 and 100% for our global footprint by 2030, Improved employee benefits coverage including providing gender affirmation healthcare benefits and significantly increasing coverage related to mental health, Named to Bloomberg's Gender-Equality Index and ranked in the top 20 of the Top 100 Most Diverse and Inclusive Companies by Refinitiv, Listed on the Dow Jones Sustainability Index North America for the fourth consecutive year with top marks for Corporate Governance and perfect scores for Anti-crime Policy, Environmental Reporting, and Risk & Crisis Management, Enhanced our global Human Rights Statement, improving its alignment with best practices and the UN Guiding Principles Reporting Framework, Achieving net-zero operations by 2030, including securing 100% non-emitting electricity in, Reducing Scope 1 and 2 emissions intensity of our Oil and Gas portfolio by 30% and reduce Scope 3 emissions intensity by approximately 1525% by 2030, Reduce Scope 1 and 2 emissions intensity of our Power and Utilities portfolio by 55-60%, by 2030. 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