Inclusion in the DJSI reflects the Bank's
leading ESG practices and performance
TORONTO, Dec. 11,
2023 /CNW/ - Scotiabank is pleased to announce it is
a member of the Dow Jones Sustainability North America Index (DJSI)
for the sixth consecutive year.
The Bank scored in the top 4 percent of banks world-wide, as
assessed in the 2023 S&P Global Corporate Sustainability
Assessment (CSA) as of December 8,
2023. The S&P Global CSA score determines eligibility
for inclusion in the DJSI, a best-in-class benchmark for assessing
leading corporate environmental, social and governance (ESG)
practices and performance. Scotiabank achieved the highest score to
date among banks in North America
assessed through the CSA.
"We are proud that Scotiabank has been recognized by S&P as
a sustainability leader through inclusion in the DJSI North America
Index and as the top performing North American bank to date," said
Scott Thomson, President and Chief
Executive Officer of Scotiabank. "We are committed to supporting
our clients' progress in their sustainability journeys as,
together, we drive action towards a more resilient future. This
year's inclusion is a recognition of our efforts across the entire
Bank to foster an inclusive environment and deliver our best for
our clients, employees and communities. Congratulations to our team
of Scotiabankers on this remarkable achievement."
DJSI inclusion reflects Scotiabank's efforts to address global
challenges and support inclusive, sustainable, and profitable
growth. Scotiabank ranked in the top 10% of banks assessed in
the categories of Climate Strategy, Corporate Governance,
Information Security/Cybersecurity and Labour Practice
Indicators. The Bank also ranks highly in Business Ethics,
Financial Inclusion, Human Capital Development, Privacy Protection
and Sustainable Finance.
Examples of the Bank's activities supporting climate action
and net-zero pathways include:
- Mobilizing $132 billion in
climate-related finance since November 1,
2018, towards a target of $350
billion by 2030. A public framework identifies the
activities contributing to this target.
- Adding a new 1.5-degree aligned, science-based target for the
automotive sector to its net-zero pathways. The interim target is
set to reduce the carbon intensity of financed GHG emissions in the
automotive portfolio by 36% by 2030 from a 2019 portfolio
baseline.
- The release of "Cultivating Resilience: Supporting Canada's
Agriculture Industry to Achieve Sustainable Growth." The report
provides insights from clients and ten guiding principles for
shaping sustainable solutions in the sector.
Over the year, Scotiabank has also strengthened trust,
inclusion, and economic resiliency across our footprint by:
- Reaching an investment of more than $100
million in 200+ organizations globally though ScotiaRISE
since 2021. ScotiaRISE is Scotiabank's 10-year, $500 million investment to strengthen economic
resilience by helping to remove barriers to success and increase
access to higher education and employment opportunities.
- Reaching the fifth anniversary of The Scotiabank Women
Initiative® and the engagement of 25,000+ women entrepreneurs in
its programs. Through The Scotiabank Women Initiative, Scotiabank
has deployed $8 billion in capital,
nearing a goal to mobilize $10
billion for women-led and women-owned businesses in
Canada by 2025.
- Achieving a "AAA" ESG rating from MSCI for the 3rd
consecutive year, including recognition as a leader in Corporate
Governance and the highest score possible held by only 5% of global
industry peers (as of October 31,
2023).
- Scotiabank is a six-year member of the 2023 Bloomberg
Gender-Equality Index (GEI), which tracks the performance of public
companies committed to transparency in gender-data reporting.
Read more about the Bank's ESG approach and action by visiting
Scotiabank Responsibility & Impact.
For more information about DJSI and the North America Index,
click here.
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 almost
90,000 employees and assets of approximately $1.4 trillion (as at October 31, 2023), 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 X @Scotiabank.
SOURCE Scotiabank