Environment
We are committed to reducing our impact on the environment
We aim to help create a better future by reducing our environmental impact, making investments in sustainable solutions and lending in a way that mitigates social and environmental risk.
Why it's important
The way businesses conduct themselves can significantly affect the sustainability of our world. By responding to environmental issues now, we can enhance the ability of customers to become better off, reduce environmental risks, and protect the environment for both current and future generations.
Perspectives
An inside perspective with Kathy Araya who spearheaded La SabanaPark Restoration Project in Costa Rica
Regional Marketing Director from Central America, Scotiabank Costa Rica
How are you advancing Scotiabank’s commitment to the environment in Costa Rica?
Since 2008 Scotiabank Costa Rica has been in charge of an ecological restoration in La Sabana park in the middle of San Jose, Costa Rica, a place where people go to be active. The park covers 72 acres and aims to have more than 8,000 trees, but previously a majority of the trees were non-native species. Based on a study that Scotiabank commissioned, we learned that these non-native species were negatively impacting the environment and biodiversity of the park. Our goal is to replace 3,200 non-native species by 2019 with 5,000 new native trees; to date 3,791 trees have been planted.
Costa Rica accounts for 5% of global biodiversity but La Sabana park had too many invasive species - good for lumber, but not native to Costa Rica. Without native trees, animals had left and the park had become a “green desert.” Even though the new trees are still small, the birds and animals are coming back, and we’ve helped change the environment and increase the biodiversity of the park.
In Costa Rica, the environment is very important; we are definitely a green country. La Sabana’s green space is important to our customers and to us. La Sabana is right in front of Scotiabank’s main building, so restoring the park was a great way to demonstrate our commitment to the environment and our community.
We want to engage in environmental initiatives that are important to our customers and the bank. The park restoration was a good way for us to do that. Now, together with the government and local partners, we are continuing to make that happen.
It’s very important to me personally, but I think it’s actually important for all of us, including Scotiabankers and our customers. The environment is for our future customers — for our children, for our grandchildren. Taking care of the environment will be our legacy for future generations, and I’m honoured to be involved in building that legacy.
Scotiabank believes that every customer has the right to become better off. That’s why we bank. The well-being of customers, communities and the environment are all connected, so our work at La Sabana is one way that we are acting on that belief. By investing in the communities where we live and work through environmental initiatives, we help protect the ability of present and future customers to become better off — resulting in what we believe will be a better future for everyone.
Our priorities — Environment
To demonstrate our commitment to a better future, we invest our resources in CSR priorities where we believe we can make the most progress for both society and our Bank.
Climate Change
A better future needs a healthy planet. By setting emission reduction targets and taking action to meet them, we seek to reduce our impact on climate change.
Responsible Financing
Businesses have an opportunity to help create a better future. As a bank, we make investments in sustainable solutions and lend in a way that mitigates social and environmental risk.
Our impact
Here's how we are making progress on our commitment to the environment.