Environmental Policy

Scotiabank's environmental policy creates a foundation for the work it does and still needs to do to address environmental impacts.

The Bank's approach to managing its environmental impacts is guided by the following principles:

• Comply with all environmental legal requirements in the countries where the Bank operates;
• Operate consistently with environmental protection and the principles of sustainable development, with due regard for associated benefits and costs;
• Incorporate environmental risk assessment criteria in risk management procedures;
• Consider the environmental performance of suppliers and contractors, as well as the environmental impact of products and services, in the context of the procurement process;
• Promote an environmentally responsible workplace by educating and motivating employees to become more involved in resource conservation;
• Pursue product and service opportunities that support environmentally friendly customer choices;
• Contribute to an ongoing dialogue with government, non-governmental organizations, industry and other relevant stakeholder groups with respect to environmental sustainability in business;
• Support environmental initiatives undertaken by external groups through donations and sponsorships;
• Report publicly on the Bank's environmental performance annually; and
• Monitor adherence to these environmental principles through ongoing assessments and periodic independent internal and/or external audits of internal control processes.

In 2009, Scotiabank's Environmental Policy was updated and reviewed by the Bank's Board of Directors.