Scotiabank ranked in the top 4 percent of banks globally for sustainability performance, included in the Dow Jones Sustainability North America Index

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 3^rd 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

For media inquiries: Amarra Mohamed, [email protected], 647-534-1853