ScotiabankCanada
Created before Nov 2016
Last update: 2019-03-05 12:53:08
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About Scotiabank

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 capitalization. The bank was founded in 1832 in Halifax, Nova Scotia. Its primary corporate offices are located in Toronto, Ontario. Bank activities are organised around three segments: Canadian Banking: retail, wealth management, corporate banking, International Banking: retail banking in the Caribbean and Central America, Mexico, Latin America and Asia and Global Banking and Markets which provides clients with corporate banking, investment banking and capital markets solutions.

Website http://www.scotiabank.com
Headquarters
44 King St. W.
M5H 1H1 Toronto
Canada
CEO/chair Brian J. Porter
CEO
Supervisor
Superintendent of Financial Institutions (OSFI)
Annual reports CSR report 2018
Annual report 2018
Ownership
listed on NYSE Euronext, Toronto Stock Exchange & Trinidad and Tobago Stock Exchange

Scotiabank's share holder structure can be accessed here.

Related Dodgy Deals

Scotiabank has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.

Projects - active profiles

Israeli illegal settlements Israel profile

Construction | transport and infrastructure
Uncategorised
Scotiabank owns and manages shares in the Israeli Banks; Bank Leumi and Mizrahi Tefahot Bank, which are active in the Israeli Settlements.
source: Thomson Reuters Eikon (12 March 2018)

Keystone XL pipeline United States profile

oil and gas | transport and infrastructure
Uncategorised
USD 999 million
2007 - 2010
shares/bonds underwriter or manager - preferred shares
source: Bloomberg

MAPA project Chile profile

forestry - pulp and paper
Bond issue – underwriter
USD 340 million
2018 - 2043
source: link

Trans Mountain Pipeline Expansion project (TMEP) Canada profile

oil and gas | transport and infrastructure
Debt – corporate loan
 415 million
31 May 2017
Financed CAD 415 million as part of CAD 5.5 billion credit facility
source: Securities & Exchange Commission
link
There are no active projects for Scotiabank now.

Projects - on record profiles

Canadian tar sands Canada profile

oil and gas
Uncategorised
 5,590.9 million
2009
Total Tar Sands Financing
source: link
Debt – corporate loan
2007
Bond issue – underwriter
2007
Share issue – underwriter
2007

Dynegy coal power plants United States profile

energy plants - coal
Debt – project finance
August 2007
Debt – corporate loan
May 2007

Enbridge Northern Gateway pipelines Canada profile

oil and gas | transport and infrastructure
Uncategorised
USD 1.17 billion
2007 - 2010
shares/bonds underwriter or manager
source: Bloomberg
Debt – corporate loan
USD 4.7 billion
2007 - 2010
general purpose
source: Bloomberg

Grasberg gold and copper mine Indonesia profile

mining - non coal
Debt – corporate loan
March 2007
For acquisition of other mining group (Phelps Dodge)
Debt – corporate loan
June 2006

Mining in Goa/ Sesa Goa India profile

mining - non coal
Debt – corporate loan
USD 50 million
August 2008

Mountain top removal coal mining United States profile

mining - coal
Uncategorised
EUR 143 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Debt – corporate loan
EUR 140 million
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014

Companies - active profiles

Arauco Chile profile

forestry - pulp and paper
Bond issue – underwriter
USD 125 million
30 April 2019 - 30 April 2049
Bond issuance
source: Cbonds.com
link
Debt – corporate loan
USD 220 million
2018
source: Thomson Reuters Eikon
Bond issue – underwriter
USD 250 million
2018
Underwriting between 2018 and June 2019
source: Thomson Reuters Eikon
Debt – corporate loan
USD 610 million
2011 - 2017
Loans and underwritings to Arauco between 2011 and 2017.
source: Thomson Reuters Eikon, “Corporate events-deals”, viewed in January 2017; Bloomberg, “Loans”, viewed in January 2017; Bloomberg, “Share and Bond issuance underwritings”, viewed in January 2017.

Drummond United States profile

mining - coal
Uncategorised
EUR 24.9 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014

TC Energy Canada profile

Debt – corporate loan
USD 500 million
14 December 2017 - 14 December 2018
Co financed USD 500 million credit facility to TransCanada American Investment
source: Rainforest Action Network via Bloomberg Professional Services
Debt – corporate loan
December 2017
Co financed USD 1.5 billion credit renewal
source: Data provided by Rainforest Action Network via Bloomberg Professional Services
There are no active companies for Scotiabank now.

Companies - on record profiles

Anglo American United Kingdom profile

mining - coal | mining - non coal
Debt – corporate loan
EUR 20.1 million
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014

BHP Billiton Australia profile

mining - coal | mining - non coal | oil and gas
Uncategorised
EUR 51.4 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Debt – corporate loan
EUR 43.1 million
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014

Glencore Switzerland profile

mining - coal
Debt – corporate loan
EUR 270.1 million
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014

Korea Electric Power Corporation (KEPCO) South Korea profile

energy plants - coal | energy plants - nuclear | mining - coal | nuclear industry
Uncategorised
EUR 13.4 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014

Rio Tinto Australia profile

mining - coal | mining - non coal | nuclear industry
Uncategorised
EUR 22.3 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Debt – corporate loan
EUR 31.4 million
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014

Textron United States profile

arms industry and trade
Uncategorised
Info on Scotia Bank's role in Textron can be found here:
source: link

Trafigura Singapore profile

commodities trading | oil and gas | transport and infrastructure
Debt – corporate loan
USD 58 million
2012 - 2016
Total corporate loan between 2012 and October 2016.
source: Thomson Reuters Eikon, accessed by Profundo, October 2016
Debt – corporate loan
USD 712 million
2012 - 2016
Total revolving credit between 2012 and October 2016.
source: Thomson Reuters Eikon, accessed by Profundo, October 2016

Vedanta Resources United Kingdom profile

mining - non coal
Debt – corporate loan
USD 50 million
August 2008

Vitol Switzerland profile

commodities trading | oil and gas | transport and infrastructure
Debt – corporate loan
USD 566 million
2012 - 2016
Total revolving credit between 2012 and October 2016
source: Thomson Reuters Eikon, accessed by Profundo, October 2016

Dodgy Deals map

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News

| |
Type:
Year:
blog
external news
our news

BankTrack 2019 Human Rights Benchmark: criteria and scope announced

2019-06-25 | Nijmegen | BankTrack
blog
external news
our news

Banking on Climate Change – Fossil Fuel Finance Report Card 2019

World's top banks have poured $1.9 trillion into fossil fuel financing since the Paris Agreement was adopted, with financing on the rise each year
2019-03-20 | Nijmegen, the Netherlands | BankTrack, Honor the Earth, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Sierra Club
blog
external news
our news

Global Banks, Led by JPMorgan Chase, Invested $1.9 Trillion in Fossil Fuels Since Paris Climate Pact

2019-03-20 | Desmogblog.com
blog
external news
our news

Banks massively financing fossil fuels unclear about future of ... fossil fuels

Few banks acknowledge relation between fossil fuels and climate breakdown
2018-12-20 | Nijmegen | Claire Hamlett – BankTrack
blog
external news
our news

Report finds major banks ramped up fossil fuel financing to $115 billion in 2017

Despite 2017 being the costliest year on record for weather disasters, new report reveals that banks increased extreme fossil fuel financing last year, led by a more than doubling in lending to tar sands companies and pipelines.
2018-03-28 | Nijmegen, the Netherlands | BankTrack, Honor the Earth, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Sierra Club
blog
external news
our news

Big banks complicit in massive tar sands destruction and pollution through hundreds of billions in financing

2017-11-02 | Rainforest Action Network
blog
external news
our news

Financiers of pulp and paper industry projects will cause environmental and social harm, says new report

2017-08-01 | Mandy Haggith – Environmental Paper Network
blog
external news
our news

28 major banks warned not to finance Trans Mountain pipeline expansion

Over 20 Indigenous and environmental groups deliver urgent letter.
2017-06-09 | BankTrack, Rainforest Action Network, others
blog
external news
our news

Banks provide billions for Dirty Diesel traders while failing to act on human rights, says new briefing

- Oil traders Trafigura and Vitol received over $100 billion in loans since 2012
- Of 26 banks contacted, not one has pressured companies over toxic fuel exports to Africa
2017-05-23 | Nijmegen | BankTrack
blog
external news
our news

Indigenous leaders launch new campaign to defund all four proposed tar sands pipelines

2017-05-09 | Turtle Island | Mazaska Talks
blog
external news
our news

Energy Transfer: Which banks continue to support the company behind DAPL?

2017-04-06 | Alison Kirsch - Rainforest Action Network
blog
external news
our news

Who's bankrolling TransCanada?

Banking on TransCanada means banking on Keystone XL
2017-03-24 | Alison Kirsch - Rainforest Action Network
blog
external news
our news

New report finds banks betting on climate change

Seventh annual bank finance Report Card reveals major banks poured hundreds of billions into extreme fossil fuels
2016-06-14 | Nijmegen, San Francisco | BankTrack, Rainforest Action Network, Sierra Club and Oil Change International
blog
external news
our news

Equator Principles goes beyond project finance, improves transparency

2012-08-13 | Environmental Finance
blog
external news
our news

While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning

2011-10-25 | Washington | prizmablog.com
blog
external news
our news

Time to Improve the Equator Principles, BankTrack Says

2011-10-24 | Washington | Social Funds
blog
external news
our news

BankTrack to Equator Principles banks; ‘get the Outside Job done’

Equator Principles update must lead to new Principles focused on people and planet
2011-10-23 | Washington | BankTrack
blog
external news
our news

Financiers search for sustainable future

2011-10-20 | Washington | Environmental Finance
blog
external news
our news

New rules for Equator Principles, but no new commitments from banks

New governance rules represent missed chance for Equator Principles to take bold steps forward on transparency and accountability
2010-07-01 | Nijmegen, the Netherlands | BankTrack
blog
external news
our news

BankTrack calls upon banks to Close the Gap on investment policies

New report evaluates quality of investment policies of 49 banks; more policies in place, overall quality below what is required
2010-04-27 | Nijmegen, the Netherlands | BankTrack
blog
external news
our news

Equator Principles: Action, not words needed

BankTrack calls upon Citi, new chair of Equator Principles to take bold steps forward
2010-03-15 | Nijmegen, The Netherlands | BankTrack
blog
external news
our news

Civil society groups call for bold steps forward with Equator Principles

Major reforms needed on transparency, accountability, implementation and climate change
2010-01-14 | Nijmegen | BankTrack
blog
external news
our news

Top financial institutions still invest US$20 billion in cluster bombs

Activists call on banks and pension funds to disinvest from banned weapon
2009-10-29 | London | Netwerk Vlaanderen
blog
external news
our news

Rainforest Action Network study ranks financed emissions of Canadian banks

Website lets customers compare carbon footprint of personal accounts
2008-11-19 | San fransisco | Rainforest Action Network
blog
external news
our news

Activists to banks: behave better in the Boreal

Market activists invite bank executives to develop new best practices
2005-09-07 | San Fransisco | Rainforest Action Network

Documents

| | | | | | | | | | | |
Type:
Year:
annual reports

CSR report 2018

2019-06-24 00:00:00 | Scotiabank
ngo documents

Fool's Gold

The financial institutions bankrolling Europe’s most coal-dependent utilities
2019-05-21 00:00:00 | Europe Beyond Coal
annual reports

Annual report 2018

2019-03-05 00:00:00 | Scotiabank
csr policies

Human rights statement

2019-02-25 00:00:00 | Scotiabank
csr policies

Code of conduct

2018-11-01 00:00:00 | Scotiabank
correspondence

Letter from BankTrack and 120 organisations to Scotiabank on Demands FBNT campaign

2018-10-16 00:00:00 | BankTrack and 120 organisations
csr policies

Anti-money laundering/anti-terrorist financing and sanctions statement

2018-04-19 00:00:00 | Scotiabank
annual reports

CSR report 2017

2018-03-31 00:00:00 | Scotiabank
annual reports

Annual Report 2017

2018-02-28 00:00:00 | Scotiabank
ngo documents

In the Red

An Assessment of Bank Policies for Financing Pulp and Paper
2017-08-01 00:00:00 | Environmental Paper Network
correspondence

Letter from RAN and 13 others to 14 banks that underwrote Kinder Morgan Canada IPO on warning to finance the IPO

2017-06-06 00:00:00 | Rainforest Action Network et al
annual reports

Annual Report 2016

2017-05-16 00:00:00 | Scotiabank
annual reports

CSR report 2016

2017-03-31 00:00:00 | Scotiabank
csr policies

Anti-slavery and human trafficking statement

2017-01-23 00:00:00 | Scotiabank
csr policies

Whistleblower policy

2016-10-31 00:00:00 | Scotiabank
our publications

Shorting the Climate

Fossil Fuel Finance Report Card 2016
2016-06-14 00:00:00 | BankTrack, Rainforest Action Network, Sierra Club and Oil Change International
annual reports

Annual report 2015

2016-03-01 00:00:00 | Scotiabank
annual reports

CSR report 2015

2016-03-01 00:00:00 | Scotiabank
annual reports

CSR Report 2014

2015-04-07 00:00:00 | Scotia Bank
annual reports

Annual Report 2014

2015-04-07 00:00:00 | Scotia bank
annual reports

Annual Report 2013

2015-04-07 00:00:00 | Scotia Bank
annual reports

CSR Report 2013

2014-04-07 00:00:00 | Scotia Bank
annual reports

Annual Report 2012

2012-12-31 00:00:00 | Scotiabank
annual reports

CSR Report 2012

Commitment in Action
2012-12-31 00:00:00 | ScotiaBank
annual reports

Annual Report 2011

2011-12-31 00:00:00
annual reports

Annual report 2010

2011-04-19 00:00:00 | Scotiabank
annual reports

CSR report 2010

2011-04-19 00:00:00 | Scotiabank
correspondence

Letter from BankTrack to EPFIs on issues around Equator Principles Review process

2010-12-18 00:00:00 | Banktrack
our publications

Close the Gap

Benchmarking investment policies of international banks
2010-04-27 00:00:00 | BankTrack
other documents

Scotiabank cluster munitions investments

2010-04-01 00:00:00 | Netwerk Vlaanderen, IKV PAX Christi
csr policies

Environmental policy

2009-12-31 00:00:00 | Scotiabank
other documents

Scotia Bank cluster munitions financing

2009-10-01 00:00:00 | Netwerk Vlaanderen et. al.
ngo documents

Worldwide investments in CLUSTER MUNITIONS, a shared responsibility

2009-10-01 00:00:00 | Netwerk Vlaanderen, et. al.
ngo documents

Financing Global Warming: Canadian Banks and Fossil Fuels

2008-11-19 00:00:00 | RAN
bank documents

Alternative and Renewable energy

2008-08-01 00:00:00 | Scotiabank
ngo documents

Profiles of European Banks

2008-01-11 00:00:00 | Ceres

Links

Scotiabank's CSR pages

https://www.scotiabank.com/corporate/en/home/corporate-responsibility.html

Scotiabank web page on climate change

http://www.scotiabank.com/corp/en/0,,11514,00.html

Policies

Voluntary initiatives

Scotiabank has committed itself to the following voluntary standards:

Investment policies

Scotiabank's web page on corporate social responsibility can be accessed here.

Year:
csr policies

Human rights statement

2019-02-25 00:00:00 | Scotiabank
csr policies

Code of conduct

2018-11-01 00:00:00 | Scotiabank
csr policies

Anti-money laundering/anti-terrorist financing and sanctions statement

2018-04-19 00:00:00 | Scotiabank
csr policies

Anti-slavery and human trafficking statement

2017-01-23 00:00:00 | Scotiabank
csr policies

Whistleblower policy

2016-10-31 00:00:00 | Scotiabank
csr policies

Environmental policy

2009-12-31 00:00:00 | Scotiabank

Campaigns

Scotiabank and the Equator Principles

The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.

The Equator Principles exist already since 2003. Scotiabank adopted the Equator Principles in 2006.

Reporting on the Equator Principles

Scotiabank must report annually on its implementation of the Equator Principles. All information is supposed to be found here.

Dodgy Deals

Scotiabank is involved in financing the following Equator Principles projects that BankTrack considers controversial.

Active

Trans Mountain Pipeline Expansion project (TMEP) Canada

oil and gas | transport and infrastructure

Human rights

True leader Front runner Follower Laggard
BankTrack has assessed Scotiabank on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. Scotiabank is assessed as a Laggard, with a total score of 1.5/12.
Policy: 1/3Due dilligence: 0/3
Reporting: 0.5/3Remedy: 0/3
For more details, see Banking with Principles? 2016 update.

Equator Principles

Implementation and reporting

Scotiabank is reporting on the implementation here.

Contact and complaints

Equator Principles Dodgy Deals

Projects

Active

Trans Mountain Pipeline Expansion project (TMEP) Canada

oil and gas | transport and infrastructure

Good moves

Year: