Scotiabank ranked highest in Monetary Business for Company Governance and Anti-crime Coverage Measures by Dow Jones Sustainability Index
Scotiabank’s Local weather Commitments enhanced scores in Sustainable Finance and Local weather Technique
TORONTO, Nov. 26, 2020 /CNW/ – Scotiabank is happy to announce it has been named to the Dow Jones Sustainability Index (DJSI) North America for the third consecutive 12 months and is now ranked within the high 15 % of taking part monetary establishments from world wide. The Dow Jones Sustainability Index is taken into account the industry-standard for measuring environmental, social and governance practices.
This 12 months, Scotiabank achieved the very best rating in Anti-crime Coverage – because of a sturdy assertion on its AML program, shared publicly by way of the Bank’s web site earlier this 12 months – and likewise achieved an industry-best rating for Company Governance, sustaining its place within the high 1 % of world monetary establishments for the third consecutive 12 months. Scotiabank additionally achieved excessive scores in Buyer Relationship Administration, Threat and Disaster Administration, Environmental Reporting, Company Citizenship/Philanthropy, Monetary Inclusion and Labour Practices.
The Bank’s scores additionally improved considerably within the classes of Sustainable Finance and Local weather Technique, which may be attributed to a number of of the priorities outlined in Scotiabank’s Local weather Commitments. Launched final 12 months, the commitments articulate a purpose of mobilizing $100 billion by 2025 to cut back the impacts of local weather change. Thus far, the Bank has mobilized over $28 billion in capital towards this goal, putting it over 1 / 4 of the way in which to assembly its purpose. Earlier this 12 months the Bank additionally launched the Sustainable Finance Group to assist its World Banking and Markets purchasers within the transition to a low-carbon financial system.
“We’re dedicated to working on the highest requirements in all that we do, and we’re happy to see our appreciable investments and efforts throughout environmental, social, and governance initiatives as soon as once more acknowledged by Dow Jones,” says Brian Porter, President and CEO, Scotiabank. “Honest because of our successful crew of Scotiabankers for his or her contributions over the previous 12 months, and their efforts to construct a extra sustainable enterprise to ship for each future.”
Scotiabank has made progress towards its Local weather Commitments by a number of important initiatives, which embrace:
- Mobilizing over $28 billion in Inexperienced and Transition finance (since November 1, 2018)
- Allocating proceeds from Scotiabank’s inaugural USD$500 million 3.5-year Inexperienced Bond to a number of environmental initiatives as outlined in our Inexperienced Bond Report.
- Introducing a Local weather Change Threat Evaluation to additional combine the consideration of local weather become threat administration and credit score adjudication
- Establishing a partnership with the Institute of Sustainable Finance at Queen’s College; as a part of Scotiabank’s Local weather Change Centre of Excellence, to contribute to the worldwide dialog on local weather change
- Creating an enterprise-wide Local weather Motion and Environmental Worker Useful resource Group
To learn extra about Scotiabank’s sustainability technique and Local weather Commitments go to www.scotiabank.com/sustainability.
The Dow Jones Sustainability™ North America Index contains North American sustainability leaders as recognized by SAM. It represents the highest 20% of the biggest 600 North American firms within the S&P World BMI primarily based on long-term financial, environmental and social standards.
Scotiabank is a number one bank within the Americas. Guided by our objective: “for each future”, we assist our clients, their households and their communities obtain success by a broad vary of recommendation, services and products, together with private and business banking, wealth administration and personal banking, company and funding banking, and capital markets. With a crew of over 90,000 staff and belongings of roughly $1.2 trillion (as at July 31, 2020), Scotiabank trades on the Toronto Stock Change (TSX: BNS) and New York Stock Change (NYSE: BNS). For extra data, please go to and observe us on Twitter @ScotiabankViews.
For additional data: For media enquiries solely: Erin Truax, Scotiabank, 416-578-9659, [email protected]
Market information on CNN.