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Climate Action and Sustainability

Why it Matters

Banks have an important role to play in the global transition toward a low-carbon, climate-resilient economy by supporting clients in their own transitions, and by helping them to understand the risks and opportunities facing their business due to climate change. 

Our Climate Pillars

We support the transition to a lower-carbon economy by providing financial services to support our clients’ climate-related objectives, supporting our clients through climate-focused programs and initiatives, and reducing our own emissions.

Financing Climate Solutions

Provide financial services to support our clients’ climate-related objectives.1

Supporting Our Clients

Partner and collaborate with clients and key stakeholders through climate-focused programs and initiatives.

Reducing Our Own Emissions

Reduce GHG emissions from our own operations and introduce initiatives intended to reduce the Bank’s direct impact on climate change.

Home Energy and Advice Tool2

There are better ways to save money. 

From

Climative

Scotiabank is proud to present the Home Energy and Advice Tool, powered by Climative – a resource for homeowners to learn about the efficiency and resiliency of their home. 

At Scotiabank, we provide access to tools, guidance and financing to help you reach your sustainability goals. It’s one of the ways we’re building sustainability into our business, and are supporting clients to do the same. 

Climate Change Centre of Excellence

How we collaborate with and support climate-related research, partnerships and opportunities.

willmills and solar panels

Partnerships and Innovative Solutions

By 2030, we aim to distribute $25 million in community investments with organizations that support climate-related systems change and sector decarbonization.

Apply for FundingApply for Funding

Economics: Climate and Sustainability

Scotiabank conducts research and provides insight into the economics of climate action and sustainability.

Featured papers:

After The Storm: Can Canadian Communities Keep Rebounding after Natural Disasters?

The report looks at how increasing rates of natural disasters are impacting governments, insurance companies and communities.

CCS/CCUS and Carbon Management: Capture, Remove, Repeat. 

This paper considers what is needed to advance carbon capture/management solutions across Canada. 

Climate Action for Main Street

focuses on the challenges small and medium-sized businesses (SMEs) face in reducing their emissions. 

mountain and river
solar panel field

Scotiabank Climate Action Research Fund

The Climate Action Research Fund was established to support registered charities and non-profit organizations conducting research and exploring climate‑related initiatives. Over its five-year operating period, the fund supported a range of research projects aligned with these objectives, distributing approximately $5 million in funding. The program has now concluded, and no further funding rounds are planned. Organizations looking for funding to support climate-related systems change and sector decarbonization may visit our funding guidelines and application page.

Learn moreabout the Climate Action Research Fund

Past Recipients

Climate-related Finance Framework

Outlines climate-related finance products and services that are eligible towards our $350 billion target.

Read the FrameworkRead the Framework
wind turbine

Publications and Policies

Access sustainability-related materials
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Perspectives: Climate & Sustainability

tractor on the field

Perspectives podcast: What is regenerative agriculture? And why it makes economic sense

 

The key to Canada’s future prosperity could be below our feet: soil health

biotech

LiteFarm taps farmers’ own data to help them thrive and think sustainably

 

Free, open-source app funded in part by Scotiabank’s Net-Zero Research Fund makes farm data management tools more accessible for farmers

green building

Five key trends in ESG, sustainable finance in 2024



Green bonds on track for a record as elections could shift ESG policy in many countries, says Scotiabank’s Managing Director & Head of Sustainable Finance.

Additional Resources

Advice Plus

Advice+

Sustainable finance

Sustainable Finance

Equity research

Equities Research

Perspectives

Perspectives

For information regarding The Bank of Nova Scotia’s (the “Bank”, or “our”) statements regarding progress towards certain climate and emissions-related goals we direct your attention to the sources listed below. Any reports or publications released before the dates of the sources below are maintained on our website to provide historical information and context only; such historical materials should not be relied upon as current information. This information is provided on a voluntary basis and the Bank makes no statement or representation whether California's Assembly Bill 1305 – the Voluntary Carbon Markets Disclosure Act – applies to the Bank.  The information provided is subject to change from time to time without notice.

 

Our Own Emissions:  Regarding our own measures taken to reduce emissions(including Scope 1,  Scope 2 and Scope 3 (Business Travel) emissions), see generally our 2023 Climate Report and our 2023 ESG Data & Indices.  Our 2023 GHG Reporting Methodology in support of that data is available here.  KPMG was engaged to provide a limited assurance conclusion over certain indicators, which is available here.

 

Financed Emissions:  Regarding our financed emissions (Scope 3) for certain identified key sectors, see generally our 2023 Climate Report.  In line with Task Force on Climate-related Financial Disclosures (TCFD) recommendations, this data is reported using the PCAF Global standard for GHG accounting methodologies.  This information was not subject to a review for third party assurance.  Discussion regarding our net-zero ambitions, including assumptions regarding reference pathways for key sectors, can be found in our 2022 Net-Zero Pathways Report.

1
Financial services under this pillar include those referenced in the Bank’s Climate-related Finance Framework (the “CRFF”), as well as other services not included under the CRFF.
2
The Climative Tool (the “Tool”) is provided by Climative Inc. (“Climative”). The use of the Tool or any other Climative product or service is at the user's sole discretion and shall be governed by the Climative Terms and Conditions of Use and any personal information collected, used and disclosed by Climative in connection with your use of the Tool will be governed by the Climative Privacy Policy. The Bank of Nova Scotia (“Scotiabank”) is not responsible for, and provides no representations, warranties or conditions regarding any Climative products or services, including the Tool, or any handling of your personal information in connection with your use of the Tool.