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The Bank of Nova Scotia (commonly called Scotiabank in English and Banque Scotia in French) is the third largest bank in Canada by deposits and market capitalisation. The bank was founded in 1832 in Halifax, Nova Scotia. Its primary corporate offices are located in Toronto, Ontario. The Bank's activities include personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
44 King St. W.
M5H 1H1 Toronto
Brian J. Porter |
Annual report 2021|
CSR Report 2020
listed on NYSE, Toronto Stock Exchange & Trinidad and Tobago Stock Exchange
Scotiabank's shareholder structure can be accessed here.
|Complaints and grievances|
Related Dodgy Deals
Dodgy Deals map
Tracking the Equator Principles
EPFIs reporting status
EP reporting page: https://equator-principles.com/reporting-bank-of-nova-scotia-2018-2019/
Project name reporting status of Equator Principles signatories for each financial institutions' most recent reporting period. Where there is no percentage presented the EPFI has not reported having financed any project transactions in that reporting period.
Banks and Climate
Bank net zero commitments
Goal 2025/2030: Pledged to set a 2030 target (NZBA).
Goal 2050: NZBA
This table tracks the net zero pledges and commitments of banks. It shows whether banks have committed to net zero by 2050 and have set an interim emissions reduction goal for 2025 and/or 2030. It also notes banks that have not yet set targets but have pledged to do so in the future, including by joining the Collective Commitment to Climate Action or Net Zero Banking Alliance. Finally, it notes whether banks have (pledged to) set Science-Based Targets. More information and references can be found by expanding the 'details' section of each bank.
- A blue check mark means the bank has set a target or joined the alliance. A check mark does not mean that the target set by the bank meets any particular standard, just that is has set a target. In case we have identified short comings in the target, for example when it only applies to lending and not underwriting), this is noted in the 'details' section.
- An orange dash means a bank has pledged to set a target (for example, banks commit to set 2030 and 2050 targets when they join the NZBA), but have not yet actually done so.
CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets
Banks and Human Rights
Human Rights Benchmark November 2019
Scotiabank's human rights policies, processes and reporting were assessed as part of the BankTrack Human Rights Benchmark in November 2019. The bank is assessed as a Laggard, with a total score of 2.5 out of 14.
Due dilligence: 0/5
This page evaluates Scotiabank's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
Wet’suwet’en hereditary chief takes fight against Coastal GasLink all the way to the banks
Banks failing to address severe human rights impacts transparently, finds BankTrack research
Equator Banks involved in financing at least 200 fossil fuel projects since Paris
Wet'suwet'en chiefs demand investors and financiers of Coastal Gaslink to divest from this and all future pipeline projects
‘Wreckers of the Earth’: 300 London-based companies destroying the planet
As extreme weather rages, RBC extends "sustainability" loan to Enbridge, actively expanding gas and tar sands pipelines
Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit
Forests & Finance Coalition warns foreign investors about the risk of the anti-environment agenda in the Brazilian Congress
Canada is burning, and our banks are fanning the flames
World’s 50 largest banks and investors driving deforestation through weak policies and major investments, new study finds
Banks called upon to take action to protect biodiversity ahead of UN Biodiversity Conference in Kunming
Revealed: Businesses and banks behind global plastic waste crisis
Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement
Scotiabank becomes fifth major Canadian bank to refuse to fund oil drilling in Arctic refuge
The battle to stop Line 3 is heating up on the ground and across the US
Major banks in Canada stand with the Gwich'in
The Big Banks’ Green Bafflegab
Equator Banks fail communities on consultation and grievance mechanisms, new study finds
Barclays, HSBC and Credit Suisse among worst offenders on oil sands finance
Major blow to Keystone XL pipeline as judge revokes key permit
Reckless Keystone XL decision by TC Energy endorsed by JPMorgan Chase, Citi and Canadian peers
Global finance sector failing to apply conservation criteria to pulp and paper funding
Banking on Climate Change – Fossil Fuel Finance Report Card 2020
Davos financial players pump US$1.4 trillion into fossil fuels: new Greenpeace report
4 out of 5 banks failing on human rights, new BankTrack Human Rights Benchmark shows
Global Banks, Led by JPMorgan Chase, Invested $1.9 Trillion in Fossil Fuels Since Paris Climate Pact
Banking on Climate Change – Fossil Fuel Finance Report Card 2019
Banks massively financing fossil fuels unclear about future of ... fossil fuels
Report finds major banks ramped up fossil fuel financing to $115 billion in 2017
Big banks complicit in massive tar sands destruction and pollution through hundreds of billions in financing
Financiers of pulp and paper industry projects will cause environmental and social harm, says new report
28 major banks warned not to finance Trans Mountain pipeline expansion
Banks provide billions for Dirty Diesel traders while failing to act on human rights, says new briefing
- Of 26 banks contacted, not one has pressured companies over toxic fuel exports to Africa
Indigenous leaders launch new campaign to defund all four proposed tar sands pipelines
Energy Transfer: Which banks continue to support the company behind DAPL?
Who's bankrolling TransCanada?
New report finds banks betting on climate change
While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning
BankTrack to Equator Principles banks; ‘get the Outside Job done’
New rules for Equator Principles, but no new commitments from banks
BankTrack calls upon banks to Close the Gap on investment policies
Equator Principles: Action, not words needed
Civil society groups call for bold steps forward with Equator Principles
Top financial institutions still invest US$20 billion in cluster bombs
Rainforest Action Network study ranks financed emissions of Canadian banks
Banking on Climate Chaos 2022
Recipients of the letter about the risk of the anti-environment agenda in the Brazilian Congress
Forests & Finance 2021 Briefing - Is Your Money Destroying Rainforests or Violating Rights?
Letter from BankTrack to Scotiabank on the bank's progress on its fossil fuel finance since COP24
Letter from RAN and 13 others to 14 banks that underwrote Kinder Morgan Canada IPO on warning to finance the IPO
Voluntary standardsScotiabank has committed itself to the following voluntary standards:
Scotiabank's web page on corporate social responsibility can be accessed here.
Implementation and reporting
Scotiabank is reporting on the implementation here.