Initiative has enabled more than 200 community
partnerships, $26 million in
community investments globally, and supported people in over
358,000 critical moments in time
TORONTO, Aug. 10,
2022 /CNW/ - Scotiabank today released its inaugural
ScotiaRISE Impact Report, providing highlights from the
first year of the Bank's 10-year, $500-million community investment commitment to
strengthen economic resilience among disadvantaged groups.
Guided by its purpose, for every future, Scotiabank launched
ScotiaRISE in January 2021 with a
mission to strengthen economic resilience among disadvantaged
groups across the communities where it operates. Through the
initiative, Scotiabank partners with organizations to support
disadvantaged people in becoming more economically resilient by
helping them overcome barriers and fully participate in the
economy.
"Scotiabank recognizes the vital role that economic resilience
plays in society, and the importance of removing the barriers that
prevent many in our communities from fully participating in the
economy," says Meigan Terry, Senior
Vice President and Chief Sustainability, Social Impact, and
Communications Officer at Scotiabank. "Resilient economies provide
the foundation for everyone's advancement – from customers to
communities to our own business."
ScotiaRISE invests in partnerships and programs within three
priority focus areas — increasing high school graduation and
post-secondary participation; helping newcomers settle in new
countries and feel at home faster; and assisting those facing
barriers to employment with career development or career
progression. Investments fostering allyship, inclusive
practices, financial literacy, skills development and mentoring
opportunities are instrumental to achieving impact across these
three pillars.
Through $26 million in
community investments deployed across 200 partners, ScotiaRISE
has accomplished the following key milestones, which are
highlighted in the report:
- Provided support to people during 358,000 critical moments
in time* across ScotiaRISE's key focus areas, including
education, employment and newcomer support
- In addition, the community investments made through ScotiaRISE
improved high school graduation and post-secondary participation
for vulnerable youth and helped more than 22,000 individuals
through allyship, cross-cultural training and anti-bias or
inclusion programming
- Removed barriers to career advancement for disadvantaged
groups, helping more than 73,000 individuals gain an
employment foothold to progress in their careers
- Helped newcomers realize opportunities to participate in the
economy and feel at home faster, supporting more than 50,000
individuals by providing coaching, mentoring and financial
education and support
- Supported programs outside of ScotiaRISE's three focus areas
with access to basic needs including helping more than 103,600
individuals access food and water, 2,700 individuals
access health and medical care and 480 individuals access
shelter
One year in and ScotiaRISE is already having a big impact.
Perspectives looks behind the numbers to see how Scotiabank
realigned its commitment to support economic resilience in
disadvantaged communities and drove impact through its
partnerships.
Click here for more information on ScotiaRISE and Scotiabank's
commitment to diversity and inclusion.
*Critical moments in time are instances where an individual
or group received support training, and/or resources through a
program enabled by a ScotiaRISE investment
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 approximately $1.3
trillion (as at April 30,
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
@ScotiabankViews.
SOURCE Scotiabank