Every voice belongs.

Black Employee Resource Groups

Scotiabank actively supports Employee Resource Groups, including the Black Employee Network and the Caribbean Network. The Black Employee Network advances the inclusion of Black employees by providing development opportunities and creating a talent bench of diverse talent throughout the organization. Scotiabank is proud to share that the Black Employee Network is a Global ERG with chapters across our geographical footprint. The Caribbean Network highlights the creativity, rich history and culture of Caribbean people by providing a social and professional network for employees, and positively contributing to the Caribbean communities.

BlackNorth Initiative CEO Pledge

As a signatory to the BlackNorth Initiative CEO pledge and through Diversity and Inclusion goals, Scotiabank is committed to meeting the representation of Black employees in senior leadership to 3.5%, and the Black student workforce to 5% or more by 2025. As of Jan 31, 2023, 2.4% of the VP+ population identify as Black and 5.8% of the student population identify as Black.

McKinsey’s Black Leadership Academy 

Through continued participation in the McKinsey’s Black Leadership Academy Program, Scotiabank is building the talent bench of Black leaders. The McKinsey Management Accelerator Program focuses on developing the leadership skills of mid-level managers. New in 2023, Scotiabank enrolled Black employees in the McKinsey Leadership Essentials Program to upskill early careerist who aspire to be become people leaders.

Advancing Diversity, Equity, Inclusion and Belonging Training

All Scotiabank employees and contingent workers globally are required to complete the Advancing Diversity, Inclusion and Belonging course. This learning experience was designed to outline foundational knowledge on Inclusion at the Bank and advance Scotiabank’s Inclusive Culture through conscious inclusion. The course equips employees to identify and confront discrimination, harassment, and racism, and to be active and effective allies.

Advancing Allyship

Scotiabank is committed to building a culture of allyship. An ally is any person who actively promotes and aspires to advance a culture of inclusion to create affirming and welcoming environments for everyone. Our goal is to create a great place to work and to be the employer and Bank of choice for the diverse communities we serve. We are dedicated to improving awareness and education on Diversity, Equity, and Inclusion (DEI) among our employees, as well as inclusive leadership, increased support in confronting racism, advancing inclusion, equitable talent management and professional development, and increased organizational capacity on DEI.

The Scotia Inspire Program 

This nomination based program is designed to develop diverse high-potential Directors and VP talent across Scotiabank.  Leaders are encouraged to consider diversity when they nominate talent for the program. Focusing on how you show up, Scotia Inspire provides a highly personalized development journey for each participant by pairing them with both a mentor and a coach to build on their leadership capabilities.

Black-led Business Financing Program 

Scotiabank’s Black-led Business Financing Program commits to providing $100 million in capital through term financing for both start-ups and established businesses. The program supports Black-led businesses growth through access to financial solutions, advice, and the benefit of offers from Bank partners. Businesses that have a minimum Black ownership of 50% or more and have annual sales up to $15 million will be eligible to apply for loans under the program.

Hockey for all 

This innovative platform by Scotiabank promotes diversity, accessibility, and inclusion in hockey. Through sponsorships, partnerships and programs, it has benefited over 290,000 children, youth, and athletes by breaking down cultural and financial barriers to the game. In 2022, Scotiabank announced a collaboration with UNINTERRUPTED Canada as presenting sponsor of their original documentary, BLACK ICE. The film explores the journey of Black hockey players, highlighting their often overlooked and marginalized contributions to the game.

Humber College Youth Transition Program

In 2021, Scotiabank announced a four-year partnership with Humber College’s Youth Transition Program. The program is a free academic access program that helps youth ages 19-29 from equity deserving backgrounds, the majority identifying as Black people and Caribbean people, find their path to higher education by providing them with advising, mentoring, career exploration and core skill-building. The program is unique in that it recognizes and removes some of the traditional barriers to education for the most disadvantaged communities by providing free transportation and food for all participants. As part of the partnership, representatives from Scotiabank have also provided financial literacy workshops to students enrolled in the Youth Transition Program, teaching important skills in areas like budgeting, managing debt, general banking and saving money, so they can be empowered to manage their finances effectively.

Black Physician’s Association of Ontario (BPAO)

Scotiabank and MD Financial in partnership with the Canadian Medical Association announced a $1 million commitment over five years to support the BPAO. The partnership will support improved health outcomes for Black Ontarians, ensure practising Black physicians have opportunities for professional development, as well as supporting advocacy for students and physicians who face anti-Black racism.

CEE Centre for Young Black Professionals

Scotiabank expanded its partnership with the CEE Centre for Young Black Professionals, a Toronto-based charity committed to advancing the economic and social development of Black youth facing barriers to employment. With a commitment of $350,000 over two years in support of the E-Trades (Entertainment-Trades) program, the partnership will provide Black youth with training and hands-on experience required to pursue a career in the entertainment trades industry.  

The PREP Academy

Scotiabank has invested $300,000 over 3 years to the PREP Academy, a community based non-profit organization that inspires and prepares African Nova Scotian students for post-secondary education. Through our support of the College & University PREP Cohort program, 360 high school youth will be provided with the tools and culturally relevant resources to navigate their entry into and throughout their college and university experience, including one-on-one wraparound support and mentorship.

Schulich Business Excellence Academy (SBEA)

Scotiabank is proud to be the lead sponsor for the Schulich Business Excellence Academy (SBEA). The Schulich Business Excellence Academy is a virtual summer business education and mentorship program for students entering Grade 10 or 11 in the following fall in high schools across Ontario. The program targets all students from under-represented, equity-deserving groups, especially those living in the Jane-Finch community. The program provides high school students in need with resources to become tomorrow’s leaders.

Black Mom’s Connection

Black Mom's Connection is an organization that aims to increase the social, emotional, financial and well-being of Black families. In 2023, Scotiabank sponsored Black Mom's Connection BizLit U program to support Black entrepreneurial mothers. The program offered expert mentorship, business strategies and valuable insight from industry leaders.