
Active
This profile is actively maintained
Active
This profile is actively maintainedWebsite | http://www.scotiabank.com |
Headquarters |
44 King St. W.
M5H 1H1 Toronto
Canada
|
CEO/chair |
Brian J. Porter CEO |
Supervisor | |
Ownership |
listed on NYSE, Toronto Stock Exchange & Trinidad and Tobago Stock Exchange
Scotiabank's shareholder structure can be accessed here. |
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.
Scotiabank's most important sustainability commitments can be found at the website sections listed below.
Scotiabank is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Scotiabank's link to these deals.
Scotiabank does not operate a complaints channel for individuals and communities that may be adversely affected by its finance. However, the bank's whistleblowing channel is open to individuals and communities who wish to bring up human rights issues.
Stakeholders may also raise complaints via the OECD National Contact Points (see OECD Watch guidance).
Scotiabank is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.
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".
Banks and Climate
The 2023 Banking on Climate Chaos report showed that Scotiabank provided US$ 182.31 Billion in financing to the fossil fuel industry between 2016 and 2022. Find further details on Scotiabank fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.
Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of Scotiabank's fossil fuel policy below.
Banks and Human Rights
BankTrack assessed Bank of Nova Scotia in its 2022 Global Human Rights Benchmark, where it achieved 4.5 points out of 14 and was ranked as a follower. In addition, Bank of Nova Scotia scored 0 out of 3 on how it responds to alleged human rights violations linked to its finance, which were raised by civil society organisations. More information is detailed in the "Accountability" section of this profile.