Scotiabank’s Supplier Code of Conduct

This Supplier Code of Conduct (“Supplier Code”) outlines the obligations that third party Suppliers, service providers, intermediaries and independent contractors, including their employees and representatives (each, a “Supplier”) must comply with when conducting business with, or providing goods and services to, or acting on behalf of, The Bank of Nova Scotia and its subsidiaries, affiliates, officers, directors, employees and authorized representatives (“Scotiabank”) world-wide.  

Scotiabank is committed to its shareholders, clients, employees and the larger community.  It is important that Scotiabank honours its core values of respect, integrity, passion, and accountability and that our Suppliers comply with applicable laws, align with the principles established in the Scotiabank Code of Conduct, and operate in accordance with the values upon which this Supplier Code is based.  This Supplier Code establishes specific obligations for Suppliers regarding the following issues: responsible business conduct, ethical business & employment practices, environmental stewardship efforts and compliance.   Existing agreements between Scotiabank and its Suppliers also contain specific requirements which may address issues identified in this Supplier Code.  In the event of a conflict or inconsistency between this Supplier Code and an agreement between Scotiabank and a Supplier, the agreement will govern and prevail.   

Responsible Business Conduct

Compliance with Laws

Suppliers must ensure they conduct all of their business activities in compliance with the applicable laws, rules, and regulations of the jurisdictions in which they operate.  

Conflicts of Interest

Suppliers must exercise reasonable care and diligence to prevent any situation in which a conflict-of-interest may occur in its dealings with Scotiabank. 

Gifts and Entertainment

The nature of gifts or entertainment provided by any existing or potential Supplier must not, by their quality, quantity or timing, be provided to Scotiabank or its personnel in an attempt to gain advantage or preferential treatment with Scotiabank or with the intent to influence Scotiabank’s procurement or business activities involving the Supplier. Any gift or entertainment offered must comply with the rules established in the Scotiabank Code of Conduct, be of modest value, infrequent, reasonable in scope, legal and consistent with generally understood ethical standards.

Anti-Bribery and Anti-Corruption

Suppliers must commit to preventing bribery and corruption and implementing controls to manage bribery and corruption risks, in connection with, or in order to provide, the product/service to Scotiabank. Suppliers must not give, promise or receive anything of value to/from any third party in exchange for preferential treatment (including but not limited to any “facilitation” payments) or otherwise engage in conduct that would put Scotiabank at risk of violating anti-corruption or anti-bribery laws.  Suppliers, including owners, principals, management officers, key employees or other persons doing work on behalf of Suppliers, must not be public officials who might exert illegal influence, either generally or on Scotiabank’s behalf.  Suppliers must not engage, directly or indirectly, in corruption, fraud, bribery, money-laundering, extortion or any other form of illegal activity in order to gain an unfair advantage or retain business. Suppliers must notify Scotiabank if they become the subject of an investigation with respect to allegations of impropriety involving bribery or corruption. Suppliers must comply with all applicable laws related to anti-corruption and anti-bribery in the jurisdictions in which they operate.


Suppliers must not assign all or part of a contract to a subcontractor without Scotiabank’s written consent. If approved, Suppliers must ensure that the subcontracting arrangement complies with their contractual obligations with Scotiabank and the Supplier Code.

Inside Information

Suppliers may, by virtue of their dealings with Scotiabank, come into contact with material non-public information ("Inside Information") concerning Scotiabank, its affiliates, associated corporations or their customers. Suppliers must comply with legal and other restrictions with respect to trading in the securities of Scotiabank and other publicly traded companies.  Suppliers and their personnel may not purchase or sell, whether themselves or whether on behalf of another party, securities issued by Scotiabank or any other publicly traded company while in the possession of Inside Information concerning the issuer.  Securities include but are not limited to the following: common and preferred shares, debentures, notes, bonds, warrants, share purchase rights and options.  Suppliers must have appropriate policies and procedures in place to comply with applicable laws and regulatory requirements regarding the management of Inside Information (such as information barriers or “ethical walls”) and must prevent inappropriate access or disclosure of Inside Information.


Suppliers must not make any public statements (whether on company websites or via social media or otherwise), issue any media releases or distribute any marketing materials referencing Scotiabank, or Scotiabank trademarks or logos, unless Scotiabank has approved each proposed use in advance or such use is expressly permitted in an existing agreement with Scotiabank. 

Ethical Business & Employment Practices

Human Rights

Scotiabank is committed to respecting human rights, and maintains an approach that is consistent with the framework established by the United Nations Guiding Principles on Business and Human Rights. This approach is set out in Scotiabank’s Global Human Rights Statement.  Scotiabank requires its Suppliers to conduct business and maintain policies and practices that are also consistent with these values. Harassment, discrimination, violence and other illegal and inappropriate behaviour must not be tolerated by Suppliers.  

Supplier Diversity

Scotiabank is committed to respecting diversity and inclusion, and this is extended to our Suppliers. We encourage Suppliers from marginalized groups including women-owned businesses, Suppliers owned or staffed by members of vulnerable, marginalized, minority or underrepresented social groups, to apply.

Employment Practices:

  • Wages & Working Hours - Suppliers must provide wages and benefits that meet or exceed the requirements of local law. Working hours, overtime hours, and number of working days per week must not exceed the relevant legal limits.
  • No Forced Labour - Suppliers must not use any forced, involuntary, compulsory or indentured labour in any of its business activities or operations.  Suppliers must comply with applicable modern slavery, forced labour and human trafficking laws and must not engage in practices associated with forced labour, including the withholding of wages, retention of identity documents or restriction of an individual’s movement. 
  • No Child Labour - Suppliers must not employ any individual under the legal age of employment in the jurisdiction in which it operates or conducts business. Suppliers must operate in compliance with local laws and abide by the core International Labour Organization (“ILO”) standards regarding child labour, such as ILO Convention No. 182 on the worst forms of child labour.
  • Resolution of Employment Concerns -   Suppliers must maintain a process for their employees to raise concerns without fear of reprisal which is transparent and ensures the confidentiality and protection of individuals that may raise concerns.
  • Occupational Health and Safety - Suppliers must ensure their offices and facilities are compliant with applicable occupational health and safety laws.  Suppliers must implement and maintain appropriate safety procedures, provide employees with required training, and supply any necessary protective equipment required for a safe and healthy work environment.
Environmental Stewardship

Suppliers should seek to conduct their businesses in an environmentally responsible way, offering or using environmentally responsible products and services to the extent available, all with the goal of assisting in the reduction of any negative impact on our environment. 

Greenhouse Gas Emissions

Suppliers are encouraged to track and mitigate their greenhouse gas (“GHG”) emissions, which may include establishing GHG emissions reduction targets, undertaking projects focused on operational efficiencies and technological improvements, and offering low-carbon products and services to Scotiabank.

Water Consumption and Waste Reduction.

Suppliers are encouraged to undertake initiatives to promote greater environmental responsibility, such as implementing policies and programs relating to reducing water, waste, energy and paper consumption.

Climate Change Risk & Reporting

Suppliers are encouraged to incorporate climate change risk assessment into their risk management procedures. This may include establishing ongoing monitoring of climate risks and maintaining appropriate governance and oversight structures to identify and manage climate risks. Suppliers are also encouraged to measure and publicly report on their climate change risk and environmental performance.

Record-Keeping and Compliance 

Record Keeping

Suppliers must maintain accurate, detailed and complete books, accounts and records in order to verify compliance with applicable laws, as well as this Supplier Code and their contractual obligations with Scotiabank. Suppliers must not destroy records that may be relevant to any pending or threatened legal or regulatory proceeding.   


In the event of any non-compliance with this Supplier Code, corrective actions must be implemented without undue delay. Any material non-compliance with this Supplier Code may result in the termination of the Supplier relationship with Scotiabank, in accordance with the applicable agreement between Scotiabank and the Supplier.

Ownership of this Supplier Code. 

The Chief Procurement Officer, Global Procurement Services is the executive owner of this Supplier Code of Conduct.  Revision date: July 2018.