Scotiabank publishes Green Bond Report
As stated in the criteria, a business will be considered eligible for financing using a Scotiabank Green Bond only if it derives 90% or more of its revenues from activities in eight key categories. To date, funds from the Bond have been allocated to businesses that have qualified in the green building and clean transportation categories.
"In its first year of issue, we are pleased to announce the estimated impact of the proceeds of our inaugural Green Bond," said
Over the last 12 months, Scotiabank has continued to build on its leadership in ESG with the announcement of several notable initiatives. These include:
- The launch of an enterprise-wide climate change strategy, the Scotiabank Climate Commitments, including a pledge to mobilize
$100 billionby 2025 to reduce the impacts of climate change. More than $16 billionhas been mobilized toward this commitment as at October 31, 2019.
- The creation of a new
Sustainable Finance Groupwithin its Global Banking and Markets division.
- The development of a climate change risk due diligence and rating methodology and related training program for all banking and credit teams.
- Recognition for leadership in climate change by the CDP with a score of 'B' in 2019.
For more information about Scotiabank's sustainability strategy, visit: www.scotiabank.com/sustainabilty.
Scotiabank is a leading bank in the