ScotiaRISE supports 200 community partners worldwide, investing $102 million over three years to help strengthen economic inclusion at 1.6 million critical moments in time
TORONTO, April 22, 2024 /CNW/ - Today, Scotiabank released its 2023 ScotiaRISE Impact Report, outlining the contributions the Bank has made since the inception of the ScotiaRISE initiative towards programs and partnerships designed to promote economic resilience and inclusion. In three years, the Bank has invested $102 million in funding globally for 200 organizations delivering programs supported by ScotiaRISE, helping individuals from disadvantaged groups at 1.6 million critical moments in time1.
The 2023 ScotiaRISE Impact Report demonstrates how the ten-year, $500 million commitment and social impact strategy is helping people in three focus areas: improving high school and post-secondary participation, removing career barriers, and supporting newcomer economic inclusion. ScotiaRISE also invests in programs that address reclamation of Indigenous language and culture as well as urgent and basic needs, such as improving access to basic supports like food and water, shelter and medical care.
"Our ambition for ScotiaRISE is inspired by our purpose as a Bank, to be here for every future, and positively contribute to the communities across our footprint," says Meigan Terry, Senior Vice President & Chief Sustainability, Social Impact and Communications Officer at Scotiabank. "The need for support has never been greater, and we are proud to enable the efforts of a global network of community organizations who are leading the way in making make greater economic inclusion possible."
ScotiaRISE continues to evolve as it strives to meet the unique needs of the global communities in which Scotiabank operates. In 2023, ScotiaRISE refined its Latin America and Caribbean regional strategy, directing support to improve access to quality education, digital skills development, career entry and advancement, and community-based action for social harmony and human rights. In 2024, ScotiaRISE will commit at least 6% of its Canadian community investment budget to fund Indigenous community organizations and activities related to education, employment, and other program areas.
ScotiaRISE was launched in 2021 and was recognized with a Banking in the Community award in 2022 from The Banker, reflecting the initiative's efforts to drive meaningful impact in the communities the Bank serves.
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial partner, to deliver sustainable, profitable growth and maximize total shareholder return. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at January 31, 2024), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on X @Scotiabank.
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1Critical moments in time are instances where an individual or group received support, training and/or resources through a program supported by a ScotiaRISE investment. Critical moments are reported proportionate to the funding provided by ScotiaRISE for the specified period of time, program or total investment received to date, as applicable.
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SOURCE Scotiabank
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