TORONTO, Dec. 23, 2024 /CNW/ - Scotiabank announced today it secured the top S&P Global ESG Score amongst banks in North America on S&P's 2024 Corporate Sustainability Assessment (CSA). The Bank also maintained its seven-year track record of inclusion in the Dow Jones Sustainability Index (DJSI) North America.
Inclusion in the DJSI reflects a global benchmark assessing sustainable business practices that are deemed relevant to generating long-term shareholder value and integrating sustainability considerations into portfolios. The Bank scored 73/100, placing in the top six percent of banks worldwide (as assessed in the 2024 CSA as of December 16, 2024) and is a S&P Global Sustainability Yearbook member.
"As we strive to be our clients' most trusted financial partner, we're proud to be selected again to the DJSI and to accomplish the top S&P ESG Score among banks in North America for the second year in a row," said Scott Thomson, President and Chief Executive Officer of Scotiabank. "These achievements are a testament to efforts across the Bank to consider sustainability in our business practices, while we continue to deliver on our strategy."
Scotiabank earned top scores in the categories of Transparency and Reporting and Corporate Governance. The Bank also ranked highly across multiple dimensions, such as Climate Strategy, Business Ethics, Human Capital Management, Talent Planning and Analytics.
Other notable Scotiabank highlights during 2024 include:
- Provided $172 billion in climate-related finance1 since November 1, 2018, towards our goal of $350 billion by 2030.
- Released our inaugural Truth & Reconciliation Action Plan, outlining 37 commitments to build relationships of trust with Indigenous employees, clients and communities.
- Distributed more than $156 million of ScotiaRISE™ investments since 2021 to 300 organizations operating in communities across our footprint.
- Recognized with 11 awards at the Euromoney Awards for Excellence 2024, including World's Best Bank for Corporate Responsibility.
Read more about the Bank's approach to sustainability and actions to address climate change by visiting: Responsibility & Impact.
Access details of the methodologies, scores, and rankings through the S&P Global CSA and DJSI Indices sites. The results of the annual CSA contribute to over 200 indices produced by S&P Global and the participation of approximately 4,500 participating companies. The DJSI Indices are a family of best-in-class benchmarks for investors assessing corporate environmental, social and governance practices and performance.
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Climate-related finance consists of those products and services (such as lending and advisory services) as well as the types of transactions (such as sustainability-linked loans or dedicated purpose loans) which support, among other things, climate change mitigation, adaptation, pollution prevention, sustainable management of natural resources, biodiversity conservation and circular economy. For further details, see Scotiabank's Climate-related Finance Framework.
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About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. 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 October 31, 2024), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on X @Scotiabank.
SOURCE Scotiabank
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