TORONTO, Dec. 14,
2022 /CNW/ - Scotiabank is pleased to announce it has
been named to the Dow Jones™ Sustainability North America Index
(DJSI) for the fifth consecutive year. The DJSI is considered the
industry standard for measuring corporate environmental, social and
governance (ESG) practices.
The DJSI is compiled annually based on S&P Global's
Corporate Sustainability Assessment (CSA), which evaluates the ESG
performance of participating companies over the preceding year. The
DJSI North America Index recognizes the top 20% of sustainability
performers among the 600 largest companies in the U.S. and
Canada based on long-term economic, environmental and social
criteria.
This year the Bank scored in the top 5 per cent of participating
financial institutions, with perfect scores in the categories of
Anti-Crime Policy & Measures and Risk & Crisis Management.
Scotiabank ranked in the 99th percentile among global
financial institutions in Corporate Governance and Corporate
Citizenship & Philanthropy, and also received top scores in
areas of Privacy Protection, Climate Strategy, and Talent
Attraction and Retention.
"We are proud of Scotiabank's strong performance in this year's
Dow Jones Sustainability Index," says Meigan Terry, SVP & Chief Sustainability,
Social Impact, and Communications Officer at Scotiabank.
"Scotiabank continues to invest in initiatives that have the
greatest impact on the people and communities we serve with pride
and provide support for every future. This recognition from DJSI
further validates our commitment to operate at the highest ESG
standards across our global footprint."
Over the past year, some of Scotiabank's corporate
sustainability achievements include:
- Launching Scotiabank's inaugural ScotiaRISE Impact Report,
which highlights the program's first-year results, from the
Bank's $500 million, 10-year community investment commitment.
Since the launch of ScotiaRISE, the Bank has partnered with more
than 200 community organizations and invested more than $60
million in communities across Scotiabank's footprint.
- Releasing Scotiabank's inaugural Net-Zero Pathways Report,
which includes sector-specific decarbonization baselines and
targets.
- Actioning its commitment to invest $350
billion by 2030 to help reduce the impacts of climate
change, having mobilized a total of $96 billion in
climate-related finance in 2022, up from $58 billion in 2021.
This commitment includes lending, investing, financing and
advisory, as well as investments in the Bank's direct operations
and communities where it operates to help reduce the impacts of
climate change.
- Committing $25 million in
community investment by 2030 to support non-profit and charitable
partnerships that help advance the transition to a net-zero
economy. Within this program, our $10
million Net Zero Research Fund has provided grants to
21 projects in North and Latin
America
- Achieving a 25% reduction of Scope 1 and 2 GHG emissions (from
2016 levels) four years ahead of our 2025 target.
- Publishing our Sustainable Bonds report, covering the green and
social use of proceeds for our Sustainable Bond issuances,
including Scotiabank's inaugural USD 1
billion 3-year sustainability bond proceeds of which are
used to fund the financing or refinancing of eligible assets
aligned with Scotiabank's Sustainable Bond Framework, supporting
clients in their sustainable business growth.
- Implementing a new global standard for parental leave, and
expanding fertility benefits for employees in Canada
To read more about Scotiabank's sustainability strategy and
Climate Commitments visit www.scotiabank.com/sustainability.
About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our
purpose: "for every future", we help our customers, their families
and their communities achieve success through a broad range of
advice, products and services, including personal and commercial
banking, wealth management and private banking, corporate and
investment banking, and capital markets. With a team of over 90,000
employees and assets of over $1.3
trillion (as at October 31,
2022), Scotiabank trades on the Toronto Stock Exchange (TSX:
BNS) and New York Stock Exchange (NYSE: BNS). For more information,
please visit http://www.scotiabank.com and follow us on
Twitter @Scotiabank.
SOURCE Scotiabank