Our Strategy

At Scotiabank, we believe every customer has the right to become better off.

Our CSR strategy, Better Future, Better Off, reflects this belief. By action through our priorities, we aim to create a better future for both society and Scotiabank.

Better Future, 
Better Off

See how we create value for our customers, our bank, and the world around us.

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Un mejor futuro para estar mejor

Why we bank

Scotiabank believes that every customer has the right to become better off. When customers succeed, businesses, communities, and entire societies benefit as well. Through our CSR strategy, Better Future, Better Off, we seek to create economic, social, and environmental value that benefits every customer.

framework
Better Future, Better Off

Through our five commitments to Customers, Employees, Communities, the Environment, and strong Corporate Governance practices, we aim to create a better future for both society and Scotiabank. We are focused on leveraging our resources, reach, and expertise to drive economic growth, as well as protecting and enhancing our reputation, for all stakeholders and the communities where we operate.

Our commitments

Learn why each one of our commitments is important to the future success of our customers and our bank.

Customers

Building a better future hinges on the success of our customers. Through our products and services, we aim to increase access to financial services and education to our customers around the world.

Learn more about Customers

Progress on our priorities


Access to Finance


Financial

Knowledge

Employees

Scotiabank understand that our ability to build an inclusive environment with diverse skills and expertise is critical to the Bank’s success. We strive to create a workplace in which employees are empowered, engaged, and provided with opportunities to grow.

Learn more about Employees

Progress on our priorities


Diversity

and

Inclusion

Community

When communities thrive, individuals and businesses to too. We strategically invest in the communities where we operate in order to create opportunity for more people to grow and prosper.

Learn more about Community

Progress on our priorities


Investing

in Young

People

Environment

A better, more prosperous future is intrinsically linked to the well-being of our environment. We aim to reduce our own environmental footprint and use our expertise and reach to finance solutions for a more sustainable future.

Learn more about Environment

Progress on our priorities


Climate

Change


Responsible

Financing

Governance

The challenges, opportunities and interests facing our bank are diverse and complex. Activing with integrity to maintain and uphold a strong reputation requires strong, strategic, corporate governance practices.

Learn more about Governance

Progress on our priorities


Maintaining

Trust

Brian_Porter_approach

"I am pleased to introduce Scotiabank's 2017 Corporate Social Responsibility Report, which tracks the progress we are making against our CSR Strategy, titled: Better Future, Better Off. The priorities set out in this report were developed to reflect our commitment to making a real and lasting difference in communities across our footprint."

Brian J. Porter, President and CEO

I am pleased to introduce Scotiabank’s 2017 Corporate Social Responsibility Report which tracks the progress we are making against our CSR Strategy, titled: Better Future, Better Off. The priorities set out in this report were developed to reflect our commitment to making a real and lasting difference in communities across our footprint.

Scotiabankers are a critical part of the economic and social fabric of the countries in which we operate – this is a responsibility that we take seriously. That is why, in 2017, Scotiabank employees contributed more than 403,500 hours of volunteering and fundraising time, and the Bank contributed more than $80 million globally in donations, sponsorships and other forms of assistance.

The Bank’s role in the community is about more than philanthropy. Let me give you four examples of some of our exciting CSR achievements in 2017:

  • As part of our commitment to Young People in the Community, last year, we built soccer fields for children in Peru and Mexico, and through our sponsorship of soccer leagues across Latin America, thousands of young people had the opportunity to play, make new friends and gain confidence. Here in Canada, we support hockey at all levels. In 2017, the Bank reached the important milestone of supporting more than 8,000 hockey teams and one million kids and counting. Our historic, 20-year partnership with Maple Leaf Sports & Entertainment (MLSE) will provide us with even more opportunities to give back to our communities and help young people reach their full potential.

  • In continuing to support a healthy environment, we were proud to announce our Greenhouse Gas emissions reduction target was met one year early in 2016. This year we expanded that target globally, to cover our entire footprint and have committed to a 10% GHG reduction by 2021. We set an internal price on carbon at $15/tonne of CO2 to help advance us towards this goal. In addition as part of this environmental commitment, in February this year Scotiabank pledged its support for the Taskforce for Climate-related Financial Disclosures (TCFD).

  • At the Bank, we are committed to becoming a digital leader in the financial services industry. Consistent with our aspirations, our annual technology spend – which includes digital – grew 14% over the last year, and now sits at more than $3 billion. Digital innovation plays a critical role in how we serve our 24 million customers. For example, we are using digital to increase access to financial services. Within Canada, we digitized the process to apply for small business loans, which made access to capital quicker and more efficient. Outside of Canada, we introduced self-serve kiosks with biometric authentication, which helped our customers in countries such as Uruguay access microfinance loans. We also believe that by investing in digital technology, we are helping to strengthen the innovation ecosystem in Canada, and across our geographic footprint. Our investments are helping to create jobs and strengthen the economies of our key markets over the longer-term.

  • The world is changing, and, as a significant employer, we are investing in training and leadership development opportunities that are relevant for our employees. Modernized learning experiences are better equipping our employees with the skills they need to succeed in our increasingly digital world. Further, by ensuring that our training programs are effective, we are improving performance through learning. These efforts are helping to position the Bank for a strong future and create a stronger society.

I want to take this opportunity to thank our all of the Scotiabankers for coming together to help our customers – and each other – during the past year. Your contributions are making a tremendous impact and you should be very proud.

This report highlights the role that Scotiabank continues to play in supporting strong communities, a healthy environment and economic growth. We will continue to do what we can to deliver for all of our stakeholders – customers, shareholders, employees and communities – today and in the years to come.

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Brian J. Porter