Financial Health and Performance Overview
ESG Highlights from 2022 ESG Report and
Q2 Update
•
•
ENVIRONMENT
•
Mobilized $96 billion since November 1, 2018,
towards our target of $350 billion in climate-
related finance by 2030.
Outlined the efforts undertaken in addressing our
net-zero objectives and the Bank's net-zero
transition plan activities.
Achieved 29% reduction of Scope 1 and 2
greenhouse gas (GHG) emissions in our own
operations (from 2016 levels) against our target of
35% reduction by 2030.
$35.3 billion of sustainable finance activity,
including green, social, sustainability and
sustainability-linked bonds, loans and M&A
advisory services.
Invested $73.5 million since 2018 in initiatives to
reduce energy consumption and improve energy
efficiency across the Bank's footprint.
2022 ESG REPORT
SOCIAL
Contributed $91 million to communities through
donations, community sponsorships, employee
volunteering and other community investments.
$60 million of our community spend was
distributed through Scotia RISE in the first two years
across 200 organizations globally to support
economic resilience, progressing towards our goal
of $500 million over 10 years.
Scotiabank ranked one of the top 25 World's Best
Workplaces by Great Place to Work® — the only
Bank and the only Canadian headquartered
company to make the list.
Introduced a new goal to increase representation in
Canada of employees who identify as lesbian, gay,
bisexual or another diverse sexual orientation to 7%
or greater by 2025.
Deployed $5.6 billion in capital through The
Scotiabank Women InitiativeⓇ in Canada and
expanded the program to Jamaica, Costa Rica and
Chile.
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GOVERNANCE
Employee engagement continues to be strong at
87%, ahead of financial sector industry averages.
Ninety-two percent of employees report they take
pride in working for Scotiabank.
Enhanced our enterprise-wide Risk Management
Framework, expanding our principal risk definition
from environmental risk to ESG risk and established
an ESG performance metric as a risk appetite
metric.
Linked ESG performance, including progress on our
climate commitments, to all Bank performance
pay.
Recognized for Outstanding Global Leadership in
Sustainability Transparency by Global Finance for
the second year in a row.
Launched our Ethics Assistant - Trusted Al tool to
enhance the Bank's investments in data and
analytics related to new Al and machine learning
projects, and published our Data Ethics Principles.
•
Progress on the efforts undertaken in addressing net zero commitments was
published as part of Scotiabank's ESG Report, including our second year of
reporting against 2030 emissions reduction targets in two sectors.
Q2 2023
Recognized for executive gender diversity on The Globe and Mail's Women Lead
Here list for the third year in a row.
Recognized with five Bond Awards by Environmental Finance, including Social
Bond of the Year - Sovereign: Government of Canada's Ukraine Sovereignty
Bond, and Green Bond of the Year - Sovereign: Government of Canada
202 2
Scotiabank
NET-ZERO
2022 ESG Report,
includes update to the
Net-Zero Report
2021 Inaugural Net-Zero
Pathways Report
MSCI
ESG RATINGS
AAA
II
Bloomberg
CDP
E ECONOMIES
B Rating
The Bank of Nova Scotia
Banks
Sustainability
Yearbook Member
S&P Global ESG Score 2022
77/100
As of
May 9, 2023.
Position and Score are industry specific and reflect exclusion
screening criteria. Learn more at spglobal.com/es/yearbook
S&P Global
Sustainable1
Gender-Equality
Index
DRIVING SUSTAINABLE
CCC B
BB BBB A
AA AAA
2022
Corporate ESG
Performance
RATED BY
ISS ESG▷
Prime
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