Scotiabank has been recognized with six wins in the 2022 Global Finance Sustainable Finance Awards, including Best Bank in Canada for leadership in sustainable finance. For the second year in a row, the Bank has also been recognized for Outstanding Global Leadership in Sustainability Transparency, making Scotiabank the only major Canadian bank to receive a global award from Global Finance.
The full list of recognitions for Scotiabank by Global Finance include:
- Outstanding Leadership in Sustainability Transparency (Global Award)
- Best in Canada (Country Award)
- Outstanding Leadership in Social Bonds (Regional Award – North America)
- Outstanding Leadership in Sustainable Bonds (Regional Award – North America)
- Outstanding Leadership in Transition/Sustainability Linked Loans (Regional Award – North America)
- Outstanding Leadership in Sustainability Transparency (Regional Award – North America)
"These recognitions reinforce Scotiabank's commitment to supporting our clients every step of the way as we advance the climate transition and promote sustainable economic growth," said Jake Lawrence, Group Head and CEO, Global Banking and Markets at Scotiabank. "Through our industry-leading Sustainable Finance Group, we help our clients across our footprint realize their environmental, social and governance goals."
Scotiabank's Sustainable Finance Group has grown significantly since its inception in 2020 and is an industry leader in developing innovative sustainable financing and ESG advisory solutions to support the Bank's diversified global presence. The team produces leading edge thought leadership and market insights for clients and engages at various local and international sustainable finance events and working groups to further the discourse and raise awareness with a range of stakeholders.
"We are proud to be recognized by Global Finance as the global leader for transparent reporting on our sustainability efforts," said Meigan Terry, Senior Vice President and Chief Social Impact, Sustainability and Communications Officer at Scotiabank. "As key to our purpose – for every future – there is nothing more important than the trust we build with our stakeholders, and this includes how we showcase and report on our environmental, social and governance commitments, progress and achievements."
Scotiabank recently released its inaugural Net-Zero Pathways Report, a comprehensive outline of the Bank's commitment to achieve net-zero emissions from our operations by 2030 and net-zero financed emissions by 2050, including interim financed emissions targets and actions for the Bank's priority high-emitting sectors. The commitments include mobilizing $350 billion in capital for climate-related finance by 2030 as the Bank works to reduce the emissions intensity of its lending portfolio, and providing $25 million in community investment over 10 years to support partnerships that enable climate-related systems change and sector decarbonization. To read more about Scotiabank's net-zero strategy and climate commitments, visit www.scotiabank.com/sustainability.