TORONTO, June 30, 2020 /CNW/ - Recognizing its unique opportunity as a global financial organization to advance climate transition and promote sustainable economic growth, Scotiabank is pleased to announce the launch of a new Sustainable Finance Group within its Global Banking and Markets (GBM) division. The new team will further Scotiabank's Climate Commitments, announced in November 2019, to support clients in the transition to a low-carbon economy, decarbonize its own operations and contribute to the global conversation on climate change.
"Our new Sustainable Finance Group will support our clients' evolving requirements for sustainable financing and Environmental, Social and Governance (ESG) related investments," said Paul Scurfield, Managing Director and Head of Global Fixed Income at Scotiabank. "We are steadfast in our commitment to support Scotiabank's sustainability and climate change initiatives by offering innovative and high-quality sustainable finance products, solutions and advice to our clients."
The Sustainable Finance Group complements Scotiabank's expertise in ESG, working closely with Scotiabank partner teams to provide financial solutions and advice across sustainable finance products to corporate, financial, public sector and institutional clients across our global footprint.
The creation of this group within GBM builds on Scotiabank's leading position as the top Canadian dealer of sustainability bonds in 2020 and the fastest growing dealer globally, as well as Scotiabank's leadership in ESG which includes:
- Issued inaugural USD 500 million Green Bond, in July 2019, aligned to eligible criteria in the Scotiabank Green Bond Framework, including renewable energy, clean transportation and green buildings.
- Developed a climate change risk due diligence and rating methodology and implemented training for all banking and credit teams in 2019.
- Invested nearly $100 million globally to communities where we operate in 2019, as part of our global philanthropy program.
- Named to the Dow Jones Sustainability Index North America and ranked amongst the top 1% of global financial institutions for corporate governance.
For more information on the Sustainable Finance Group, visit: https://www.gbm.scotiabank.com/en/services/financing/sustainable-finance.html.
Scotiabank's Climate Commitments include a commitment to mobilize $100 billion by 2025 to reduce the impacts of climate change. Those commitments can be viewed on www.scotiabank.com/sustainability.
For more information about Scotiabank's sustainability strategy, visit: www.scotiabank.com/sustainabilty.
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future," we help our customers, 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 a team of approximately 97,000 employees and assets of over $1.2 trillion (as at April 30, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit our website and follow us on Twitter @ScotiabankViews.