Global disclosure organization scores
Scotiabank higher than global financial services sector
average
TORONTO, Jan. 24, 2020 /CNW/ - The CDP has recognized
Scotiabank with a climate change score of 'B,' for its strong
results in the areas of climate change governance; climate change
risk management; and greenhouse gas emissions reduction
initiatives. The CDP, a not-for-profit charity, provides a global
disclosure system for investors, companies, cities, states and
regions to manage their environmental impacts.
Over 2330 companies have been scored by CDP according to
the comprehensiveness of their disclosure and their actions towards
a net-zero emissions economy, resulting in both a North American
regional average and a global financial services sector average of
'C.' The scores, announced January 20,
2020, reflect company performance from November 1, 2017 to October 31, 2018.
"Scotiabank is committed to addressing climate change in our
business activities and our operations, and demonstrating our
commitment to customers, employees and shareholders," says
Sandra Odendahl, Scotiabank's Vice
President of Social Impact & Sustainability. "Scotiabank's CDP
score demonstrates that we are on the right track with our efforts
to help build a sustainable economy through our climate change
strategy. We are adapting our practices to align with a low carbon
future and supporting our clients in their own efforts during this
time of important change."
In November 2019, Scotiabank
formally released its climate change strategy and announced the
Scotiabank Climate Commitments, which include a pledge to enhance
the integration of climate change considerations into our lending,
financing, and investing activities, and the Bank's operations, and
further enhance risk assessment processes. Scotiabank's
Climate Commitments also include a commitment to mobilize CDN
$100 billion by 2025 to reduce the
impacts of climate change.
Financial services support economic progress, allow people to
pursue their ambitions and create widespread future opportunities.
By paying careful attention to the areas where we feel we can have
the biggest impact, Scotiabank creates economic, social and
environmental value for our customers, employees and communities,
while also delivering returns for our shareholders. To read more
about our sustainability strategy visit
www.scotiabank.com/sustainability.
About Scotiabank
Scotiabank is a leading bank in the
Americas. We are here 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 more than 100,000 employees and assets of over
$1 trillion (as at October 31, 2019), 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
@ScotiabankViews.
SOURCE Scotiabank