Corporate Sustainability
We are here for every future. A future where our customers and employees have opportunities to reach their fullest potential, and communities and the natural world are healthy and vibrant.
2019 Environment, Social and Governance (ESG) Report
Download our 2019 Environment, Social and Governance (ESG) Report to learn about how Scotiabank is working to build a more sustainable business and create a more sustainable future for our customers, employees, communities and the natural environment.
Highlights for 2019
Announced our commitment to mobilize $100 billion by 2025 to reduce the impacts of climate change.
Issued inaugural USD 500 million Green Bond of which proceeds were used to fund renewable energy, clean transportation and green buildings.
Reduced our greenhouse gas emissions by 17% from a 2016 baseline, achieving our target of 10% early; established a new target of 25% by 2025
Invested nearly $100 million globally in communities where we operate as part of our global philanthropy program.
Committed $3 billion in funding over the first three years of The Scotiabank Women Initiative to advance women-led businesses in Canada.
Signed the UN Women’s Empowerment Principles and UN LGBTI Codes for Business Conduct.
For the second consecutive year, ranked by the Dow Jones Sustainability Index as among the top 1% of global financial institutions for Corporate Governance.
38% of our directors are female. We first established a Board diversity policy in 2013.
Dedicated significant Board time to cybersecurity, anti-money laundering, conduct and culture issues, keeping the Bank safe.
Focus Areas
Trust
Building and enhancing trust by acting with integrity in everything that we do.
Economic Inclusion
Enabling economic inclusion for our customers and employees.
Young People
Supporting young people in the community with resources to share their future.
Scotiabank's Climate Commitments
At Scotiabank, we recognize that efforts to address climate change will require a significant mobilization of capital from public and private sources worldwide. That’s why we have committed to mobilize $100 billion by 2025 to reduce the impacts of climate change.
Commitment to Corporate Sustainability
As part of our commitment to sustainability initiatives, we are supporters, signatories or members of the following:
*Scotia Global Asset Management, MD Financial Management and Jarislowsky, Fraser Limited are signatories of PRI
Endorser of the UN LGBTI (lesbian, gay, bisexual, transgender and intersex) Standards for Business and Signatory to the UN Women’s Empowerment Principles
At Scotiabank, respect for human rights is fundamental to the way we do business, and is part of our core values across all of our business activities and operations. Consistent with that commitment, we are proud to be an endorser of the UN LGBTI (lesbian, gay, bisexual, transgender and intersex) Standards for Business and signatory to the UN Women’s Empowerment Principles.
Scotiabank’s Policy on Financing in the Arctic
The Arctic National Wildlife Refuge (ANWR) is the largest national wildlife refuge in the US, covering almost 80,000 square km in northeastern Alaska. For over 50 years the ANWR was protected for its wildlife, wilderness and cultural importance, and the subsistence of Indigenous communities. Recent policy changes have opened part of the ANWR to oil and gas exploration, and local Indigenous communities are concerned that development could threaten the fragility of the ecosystem and negatively impact their well-being
In 2020, Scotiabank enhanced our lending policies to be explicit about our support for the ANWR and its protection. Scotiabank will not provide direct financing or project-specific financial and advisory services for activities that are directly related to the exploration, development or production of oil and gas within the Arctic Circle, including the Arctic National Wildlife Refuge.
Sustainability Awards and Recognition
Scotiabank is proud to have been recognized for our strong ESG performance through awards, inclusion on global indices, and other recognitions. Internationally, these include:
Featured Stories
Scotiabank Supports Access to Finance for Survivors of Human Trafficking
Scotiabank is the first bank to design, implement and successfully pilot the Liechtenstein Initiative’s Financial Access Project.
Scotiabank’s Internal Carbon Price
We implemented an internal carbon price of CAD$15 per tonne of CO2.
The Price of Equality
Scotiabank Peru carried out a campaign called The Price of Equality to address the gender wage gap in Peru.
Scotiabank invests $15 million to help provide young people in the GTA a strong start.
United Way Greater Toronto announced a $15-million investment from Scotiabank to help young people.