Corporate Social Responsibility

Committed to doing business in a socially responsible way

CSR at Scotiabank

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As Canada's international bank, Scotiabank has a unique opportunity to make a positive economic, social and environmental impact in the 55 countries in which it operates. The focus of our corporate social responsibility (CSR) strategy has evolved from donating to community causes to being a strategic imperative that helps drive value for the Bank, our shareholders and society at large.

Scotiabank's CSR strategy includes five priority areas: Corporate Governance, Marketplace, Employees, Environment and Community Investment. The work that we do in each of these categories is based on the Bank's business strategy as well as the expectations from our key stakeholders.

Learn how we engage with our
stakeholders around CSR issues
Download Scotiabank's key performance indicators over the past three years
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2014 CSR Report

2014 CSR Report

Scotiabank's CSR Report articulates the Bank's performance and achievements related to environmental, social and governance priorities, and outlines how the Bank engages with its stakeholders.

2014 CSR Report

Scotiabank has been using the Global Reporting Initiative (GRI) framework for CSR reporting since 2005. GRI is a non-profit organization that provides a comprehensive sustainability reporting framework, which sets out the principles and indicators by which organizations measure and report their economic, environmental and social performance.

With the rapidly changing nature of reporting, Scotiabank's 2014 CSR Report has allowed the Bank to develop a dynamic and interactive approach to how information is presented. Information that is directly related to a GRI indicator is identified with interactive links to demonstrate how sustainability is integrated into the Bank's business strategy.

In Canada, Scotiabank is required by law (the Bank Act) to produce an annual Public Accountability Statement (PAS) for customers and other interested stakeholders, to describe the Bank's contribution to the economy, the environment and society.

As a signatory to the UN Global Compact (UNGC), Scotiabank's CSR Report also meets the UNGC's Communication on Progress reporting requirement.

President and CEO message

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Open Quote We are committed to having a positive impact – in the countries, societies and communities in which we live and work Close Quote

Dear Stakeholders,

2014 was a year of transition for Scotiabank in many ways, but we continued on a long tradition of practising ethical leadership and giving back to the communities in which we operate. Indeed, as we embark on Scotiabank's 184th year, my second as President and CEO, we remain firmly committed to doing business in a socially responsible way and will continue to seek out new ways to support communities in Canada and across our global footprint.

Scotiabank is the third largest bank in Canada and among the 25 largest and soundest banks in the world. For more than 125 years, we have been fortunate to have a meaningful international footprint spanning a number of dynamic and fast growing economies in North America, Latin America, the Caribbean & Central America and parts of Asia. While the opportunities for our businesses are great, I also strongly believe we have a responsibility that extends beyond our fiduciary obligation as a deposit-taking institution. Everywhere we operate, our Bank and employees contribute to communities' well-being and vitality.

In my interactions with many of our shareholders, customers, employees and key stakeholders around the world, it is clear that the Bank is widely viewed as having a strong global brand. And operating in a socially responsible manner in all our businesses across all our geographies is a key part of our brand.

We have a strong foundation of integrity, trust and ethical behaviour in all of our businesses. Combined with our unique international footprint, our strong foundation allows us to prudently lend to individuals as well as businesses of all sizes. By doing so, we create jobs, drive economic opportunity and – most importantly – help our customers to become better off. We are committed to having a positive impact – in the countries, societies and communities in which we live and work.

Not only does Scotiabank employ more than 86,000 people, many in high-skill, high-wage positions, the Bank plays an important role in providing financial services to vulnerable groups, which in turn gives them access to the formal economy, contributing to the economic and social development of these communities. For example, approximately 60% of Scotiabank's microfinance clients in Peru are women, empowered to create positive change for their families and communities.

On behalf of all Scotiabankers – who not only assist our customers to become better off every single day but volunteered more than 650,000 hours to support important causes last year – I would like to thank our 21 million customers around the world for their business. It is a privilege for us to serve both our customers and communities. I would also like to thank our many partners around the world who assist in our efforts to build stronger communities. Together, our future is exceedingly bright.

ceo signature
Brian J. Porter

History of Scotiabank's

Corporate Responsibility

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Corporate social responsibility has always been at the heart of how we do business at Scotiabank. Since 1832, we have taken pride in creating value for our shareholders, fulfilling our customers' unique financial needs, providing employees with rewarding careers, and supporting the well-being of our communities.
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