scotiabank climate commitments

Nearly every commercial, industrial, and human activity is associated with greenhouse gas emissions. Global disclosure organization scores Scotiabank higher than global financial services sector average. Scotiabank has made significant progress towards meeting its Climate Commitments since launching them in November 2019, including: This latest recognition from CDP builds on Scotiabank's track record of excellence in corporate sustainability, including recent inclusion in the Dow Jones Sustainability Index North America for the fourth consecutive year. By paying careful attention to the areas where we feel we can have the biggest impact, Scotiabank creates economic, social and environmental value for our customers, employees and communities, while also delivering returns for our shareholders. 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, The Arctic National Wildlife Refuge (ANWR) is the largest national wildlife refuge in the US, covering almost 80,000 square km in northeastern Alaska. | December 18, 2022 %PDF-1.7 % Thats why we have committed to mobilize $100 billion by 2025 to reduce the impacts of climate change. The most recent example of Scotiabanks commitment to this cause is our announcement of aNet Zero Research Fund, that will to help to form partnerships with a number of leading think tanks and academic institutions, that are supporting key sectors in their efforts to decarbonize. >j-@~tn|nPU R This year's winners focused on sustainable agriculture and carbon measurement, capture and reduction. Scotiabank today released its 2021 Environment, Social and Governance Report, a comprehensive review of the Bank's progress against its ESG commitments according to four key pillars Environmental Action, Economic Resilience, Inclusive Society, and Leadership & Governance. TORONTO, Dec. 17, 2020 /CNW/ - Scotiabank is pleased to announce it has been awarded a grade of A- from the CDP(formerly known as the Carbon Disclosure Project) in recognition of its strong management of climate-related issues and transparency in its disclosures. Scotiabank's Climate Commitments in Detail To our Employees and Stakeholders Establish a Climate Change Centre of Excellence to mobilize internal and external collaboration, dialogue and information sharing and contribute to the global conversation on climate change. api}n&w&3bRS>c3"cM|S9g1g1j7`Pa+W{* 0 3?X'.v-kEa'. Today Scotiabank announced our 2022 ESG Report. . 256 0 obj <>stream hbbd``b`@H07@D.:"WP}$xDA@HLaT2A10RNg` M A message from Brian Porter, Scotiabank President and CEO. Amplify your organizations ESG communications with unlimited distribution to a global audience, Share your brands purpose through a sponsored editorial series combining original content and distribution, Talk to our team about maximizing your ESG communications with 3BL Media, Elevate your next CSR report, event or sustainable bond in just a few clicks, Experience the latest ESG and sustainability news reported by veteran journalists, Celebrate your companys placement on this prestigious ranking, Catch up on the latest ESG news shared over 3BL Medias distribution network, We help organizations share their ESG communications with audiences around the world. Opinion: How do we limit the global temperature rise to 1.5 C? "Scotiabank's CDP score demonstrates that we are on the right track with our efforts to help build a sustainable economy through our climate change strategy. Ensure robust climate-related governance and reporting. This score is above the Global Financial Services average, and an increase over the organization's "B" grade last year. We are adapting our practices to align with a low carbon future and supporting our clients in their own efforts during this time of important change.". Im proud of our Banks progress to decarbonize towards net-zero for our own operations, while also being united in supporting the goal for the global economy. ea` endstream endobj startxref %%EOF Enabling economic inclusion for our customers and employees. The CDP, a not-for-profit charity, provides a global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. Scotiabank reports on 2021 sustainability performance, announces net-zero strategy and a commitment to mobilize $350 billion in climate related financing TORONTO, March 15, 2022 /CNW/ - Scotiabank. change strategy: the Scotiabank Climate Commitments. The Fund was established in 2021 as part of Scotiabank's commitment to becoming a net-zero bank by 2050, including achieving net-zero operations by 2030; mobilizing $350 billionin capital for climate-related finance by 2030; and committing $25 millionover 10 years in community investments to support non-profit and charitable partnerships that "Banks are drivers of prosperity, partners that enable the success of businesses small and large, a critical part . Save my name, email, and website in this browser for the next time I comment. Scotiabank will apply its net-zero approach across additional emissions-intensive sectors and geographies over time, working in partnership with clients, governments and other stakeholders to lower emissions across the sectors the Bank finances. As a Leading Bank in the Americas, we will continue to do our part to reduce the impacts of climate change and in the process build a stronger, more resilient economy for all. Scotiabank reports on 2021 sustainability performance, announces net-zero strategy and a commitment to mobilize $350 billion in climate related financing. Required fields are marked *. 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.". Scotiabank is a leading bank in the Americas. OurSustainable Finance Groupwithin our Global Banking and Markets business is a best-in-class team of experts who work with our public and private sector clients to advance climate transition and promote sustainable economic growth. For a more detailed description of winner submissions, and for more information about the Fund, visit the Scotiabank Climate Change Centre of Excellence. The Scotiabank Climate Commitments also include a commitment to governance and transparency in disclosure, priorities that CDP also recognizes. To read more about Scotiabank's net-zero strategy and climate commitments, visitwww.scotiabank.com/sustainability. Save my name, email, and website in this browser for the next time I comment. Internationally, these include: Scotiabank is the first bank to design, implement and successfully pilot the Liechtenstein Initiatives Financial Access Project. TORONTO, March 15, 2022 /CNW/ - Scotiabank today released its 2021 Environment, Social and Governance Report, a comprehensive review of the Bank's progress against its ESG commitments according. 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 Scotiabankers, we believe climate change is a critically important issue, impacting all people in all countries around the world. Important conversations are being had about how the global goal of a net-zero economy by 2050 can avoid the worst impacts of climate change. 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 . 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. Benzinga does not provide investment advice. According to a press release from Scotiabank, this bond is aligned to eligible criteria in the Scotiabank Green Bond Framework, including renewable energy, clean transportation and green buildings. Finally, Scotiabank says it is adopting a new approach to its head office in Toronto, including cutting the square feet per employee by 40 per cent and reducing paper use by 86 per cent. CDP Recognizes Scotiabank for Environmental Leadership, For further information: For media enquiries only: Stephanie Cangelosi, Scotiabank, Stephanie.cangelosi@scotiabank.com, 416-816-5453, Institute of Sustainable Finance at Queen's University, the Dow Jones Sustainability Index North America. Achieving our goal will take a meaningful commitment and action, which is why I have challenged our Banks senior leadership team to assess and act on the pathways available to be net zero by 2050, which must include concrete plans, interim targets, timelines and transparent reporting. Issued inaugural USD 500 million Green Bond of which proceeds were used to fund renewable energy, clean transportation and green buildings. For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews. It is also an issue that we have and will continue to help combat. We are here for every future. Joining the United-Nations-convened Net-Zero Banking Alliance (NZBA), a global initiative to accelerate efforts of the financial sector in addressing climate change. Scotiabanks Net-Zero Commitments include: See related article: AIMCo Realty Announces Green Financing Framework. This is very meaningful to me and helps provide purpose showing the difference we can and have made with climate change, social impact and governance. For the second consecutive year, ranked by the Dow Jones Sustainability Index as among the top 1% of global financial institutions for Corporate Governance. TORONTO, Jan. 24, 2020 /CNW/ - The CDP has recognized Scotiabank with a climate change score of 'B,' for its strong results in the areas of climate change governance; climate change risk management; and greenhouse gas emissions reduction initiatives. Markham On Energy columns policy and politics, Video interviews with Canadian energy experts, Energi Talks podcast with global energy experts, Deep analysis of energy issues and trends. Scotiabank has also made several sustainable finance commitments, including a commitment to mobilize $350 billion in climate finance and a $10 billion commitment in support of affordable housing in Canada by 2030. In 2020, Scotiabank enhanced our lending policies to be explicit about our support for the ANWR and its protection. 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. 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. Read more Commitment to Corporate Sustainability How we choose to bank impacts the world around us, particularly in relation to environmental, social, and governance issues. This is very meaningful to me and helps provide purpose showing the difference we can and have made with climate change, social impact and governance. Financial services support economic progress, allow people to pursue their ambitions and create widespread future opportunities. , Scotiabank Supports Access to Finance for Survivors of Human Trafficking. 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. "The Scotiabank Climate Commitments are our response to addressing this challenge, including a commitment to robust governance and transparency in disclosure. Getting to the global goal of net zero will not be easy. 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. 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.