ESG Strategy

Scotiabank's ESG Approach

Scotiabank’s approach to Environmental, Social, and Governance (ESG) focuses on four pillars — Environmental Action, Economic Resilience, Inclusive Society and Leadership & Governance. We develop, implement and invest in initiatives across these pillars in order to maximize our positive impact on the world.

Our impact in these areas is greatest when we take action at three different levels — In our Operations, With our Customers, and On the World Around Us. We have the most control and ability to drive positive change in our operations. We also support and enable positive ESG outcomes with our customers through our core business: delivering important financial products, services and advice that help them achieve their goals. And we affect progress on the world around us by using our partnerships and influence to address global concerns that affect everyone.

Our diversified geographic footprint, varied business lines, and large customer and employee base give us a responsibility and an opportunity: we can help address important social, environmental, and economic challenges while positioning our Bank for success. By working with stakeholders at all levels across our entire value chain, we are best positioned to build a better future.

Responsibility & impact

Our ESG Strategy: Environmental Action, Economic Resilience, Inclusive Society, Leadership and Governance. Impact On the World Around Us, With our Customers and In our operations.

Environmental action

Enabling sustainable development and the transition to a low-carbon economy.

Urgent environmental action is needed to protect the planet’s future. As a global financial institution, we believe that long-term economic growth must co-exist with strong environmental action. We demonstrate our commitment to sustainable development and the transition to a low-carbon economy by reducing our own environmental footprint, financing sustainable solutions, and sharing knowledge and helping drive the global conversation about climate change. By leveraging our influence to uphold the health of our planet, we lay strong foundations that will endure for decades to come.

In Our Operations

Examples of Environmental Action from inside our own operation:

Internal Carbon Price
 

GHG Emissions Reduction
 

LEED building Certification

With Our Customers

Examples of Environmental Action in our business relationships with customers:
 

Mobilizing $100 Billion Climate Commitment
 

Sustainable Finance
 

ESG Equity Research

Environmental Risk Management in Lending

On the World Around Us

Example of how we are using our influence to advance Environmental Action on the World Around Us:
 

Climate Change Centre of Excellence
 

Scotiabank Environmental Policy

Participation in CSA Transition Taxonomy development

Consultation with IFRS on Sustainability Reporting (via CBA)

Memberships, commitments and agreements

As part of our commitment to sustainability initiatives, we are supporters, signatories or members of the following:

Carbon Pricing Leadership Coalition logo
Task Force on Climate-Related Financial Disclosures
Principles for Responsible Investment
Sustainable Development Goals
CDP Disclosure Insight Action
Equator Principles
Responsible Investment Association
UNEP Finance Initiative
Caring Company Certified Imagine Canada logo

ESG Awards

Member of Dow Jones Sustainability Indices  Powered by the S&P Global CSA
Bloomberg Gender-Equity Index 2021
Refinitiv Top 100 Company 2020
World’s Best Workplaces 2020 great place to work
SAM Sustainability Award Bronze Class 2019
SAM Sustainability Award Industry Mover 2019
FTSE4Good

Impact stories

Graduates smiling

Scotiabank makes 10-year, $500M commitment to foster economic resilience among disadvantaged groups

 

ScotiaRISE seeks to help people improve education and employment prospects, adapt to changing circumstances, and increase the likelihood of financial success.

plant and coins

Scotiabank commits $1.25 million to the Institute of Sustainable Finance

 

This partnership is part of the Bank’s commitment to advancing sustainable finance in Canada and contributing to the global conversation on climate change.

Child with computer hiding eyes

Project Shadow looks to put a dent in online child exploitation through a collective effort

 

The public-private partnership announced by FINTRAC and co-led by Scotiabank will aid in catching and prosecuting perpetrators of this heinous crime.

Download our ESG Report

Learn how Scotiabank is working to build a more sustainable future for our stakeholders and our business.

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