To support co-operation on environmental issues, Scotiabank participated in a number of domestic and international environmental initiatives throughout the year.

• We are a long-standing member of the United Nations Environmental Program Finance Initiative (UNEP FI), and we participate in its North American Task Force (NATF), which commits signatories to incorporate environmentally sound practices into their internal operations, risk assessment and management practices, and to develop environmentally sound products and services. In 2007, the NATF completed a study and training day on the development of “green” financial products for the financial sector in the North American context. The study is available at www.unepfi.org.
• We are a member of Environment Canada’s network in linking environmental performance to financial value, made up of financial institutions, governments, academies and other groups. In 2007, the network commissioned a report on the relevance of Canadian financial institutions’ activities to the sustainability of Canada’s boreal region.
• We take part in the Canadian Bankers Association’s Environmental Issues Specialist Group to discuss and participate in an industry approach to addressing issues relating to the environment.
• Scotiabank is a signatory and contributor to the Carbon Disclosure Project (CDP), an initiative on behalf of international institutional investors to collect information on climate change and its impact on the world’s largest companies. To review Scotiabank’s submission, please visit www.cdproject.net.
• In 2007, we met with a number of environmental non-government organizations to obtain their insights and to work towards making our business transparent with respect to environmental issues.