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
BankTrack is the international tracking, campaigning and support organisation focused on banks and the activities they finance.
We aim to promote fundamental changes in the banking sector so that banks adopt just and sustainable business practices.
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, and its primary corporate offices are located in Toronto, Ontario.
Bank activities are organised around three lines: 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. GBM's products and services are offered to corporate, government and institutional clients in Canada and in select international countries.
At the end of 2015 Scotiabank controlled assets worth CAD856 billion.
44 King St. W.
M5H 1H1 Toronto
Brian J. Porter |
|Annual report||Annual Report 2016|
listed on NYSE Euronext, Toronto Stock Exchange & Trinidad and Tobago Stock Exchange
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.
Scotiabank reports annually on their implementation of the Equator Principles. The 2015 report can be found here.
Scotiabank further reports on its portfolio of projects financed under the Equator Principles on the Equator Principles website, here.
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.
Scotiabank is reporting on the implementation here.