Scotiabank's Climate Commitments enhanced scores in Sustainable Finance and Climate Strategy
This year, Scotiabank achieved the highest score in Anti-crime Policy – thanks to a robust statement on its AML program, shared publicly via the Bank's website earlier this year – and also achieved an industry-best score for Corporate Governance, maintaining its position in the top 1 percent of global financial institutions for the third consecutive year. Scotiabank also achieved high scores in Customer Relationship Management, Risk and Crisis Management, Environmental Reporting, Corporate Citizenship/Philanthropy, Financial Inclusion and Labour Practices.
The Bank's scores also improved significantly in the categories of Sustainable Finance and Climate Strategy, which can be attributed to several of the priorities outlined in Scotiabank's Climate Commitments. Launched last year, the commitments articulate a goal of mobilizing
"We are committed to operating at the highest standards in all that we do, and we are pleased to see our considerable investments and efforts across environmental, social, and governance initiatives once again recognized by
Scotiabank has made progress toward its Climate Commitments through several significant initiatives, which include:
- Mobilizing over
$28 billion in Green and Transition finance (sinceNovember 1, 2018 ) - Allocating proceeds from Scotiabank's inaugural
USD$500 million 3.5-year Green Bond to several environmental projects as outlined in our Green Bond Report. - Introducing a Climate Change Risk Assessment to further integrate the consideration of climate change into risk management and credit adjudication
- Establishing a partnership with the
Institute of Sustainable Finance atQueen's University ; as part of Scotiabank'sClimate Change Centre of Excellence , to contribute to the global conversation on climate change - Creating an enterprise-wide
Climate Action and Environmental Employee Resource Group
To read more about Scotiabank's sustainability strategy and Climate Commitments visit www.scotiabank.com/sustainability.
About DJSI
The Dow Jones Sustainability™ North America Index comprises North American sustainability leaders as identified by SAM. It represents the top 20% of the largest 600 North American companies in the S&P Global BMI based on long-term economic, environmental and social criteria.
About Scotiabank
Scotiabank is a leading bank in the
SOURCE Scotiabank
© Canada Newswire, source