Scotiabank marks Pride Month with new initiatives to foster opportunities for LGBT+ communities
As part of the Bank's renewed Diversity and Inclusion Goals, developed to increase the diversity of its employee population over the next five years, Scotiabank is introducing a new goal to increase representation in
To further support the communities in which it operates, Scotiabank is launching a new community engagement platform, Spark by
"We believe that diverse backgrounds, identities, and perspectives makes us stronger, as a team within Scotiabank and for the diverse communities we serve every day," said Barb Mason, Group Head and Chief Human Resources Officer, Scotiabank. "By increasing representation and empowering employees with new ways to be active allies to LGBT+ people in their local communities, we're striving to create a culture of inclusion and belonging where everyone can show up as their whole selves and thrive at work and in their communities."
During Pride month, and every month of the year, Scotiabank's commitment to building inclusive workplaces, fostering opportunities for LGBT+ communities, and building a culture of belonging for LGBT+ employees, customers and communities across the diverse communities it serves include:
- Scotiabank set a new global standard for parental leave, which includes 8 fully paid weeks for all parents with a new child and 8 additional fully paid weeks for parents who have given birth, going into effect into 2023. This new standard will be introduced in 24 countries across the Bank's footprint including
Chile, Colombia, Mexico, Peruand more. In addition, new family planning coverage in Canadawent into effect on April 1of this year for fertility treatment, adoption, and surrogacy with a lifetime value of $10,000each.
- Scotiabank enhanced coverage for gender affirming procedures and benefits for all employees in
Canadaand the United States, as well as their dependents. In addition, Scotiabank has expanded its health care benefits to include the same-sex partners of employees in Trinidad and Tobago, joining Canada, United States, Brazil, Chile, Colombia, Costa Rica, Mexico, Panama, Peruand Uruguay.
- Through ScotiaRISE, Scotiabank's 10-year, $500 million initiative to promote economic resilience among underrepresented groups and our ongoing community partnerships, Scotiabank works with several organizations focused on supporting the LGBT+ community. These include: The 519
Church Street Community Centre, Outright Action International, Rainbow Railroad, and Friends of Ruby.
- Following a successful pilot in 2021, Scotiabank launched an LGBT+ employee Sponsorship program for employees this year. The program focuses on high-potential LGBT+ talent and provides clear targets and KPIs to measure success. Participants in the program are provided with coaching, education, career mapping and more in a structured curriculum over the year.
- Over the past year, the Bank continues to be recognized globally for gender equity efforts, including ranking on the Bloomberg Gender-Equality Index (GEI) for the fifth year in a row. Scotiabank
U.S., Scotiabank Mexico and Scotiabank Chileachieved a perfect 100 percent score on the HRC's most recent Corporate Equality Index (CEI), a benchmarking report on corporate policies and practices in support of lesbian, gay, bisexual, transgender and queer (LGBTQ+) workplace equality. Scotiabank was also recognized by the Human Rights Campaign (HRC) Foundationas Triple Winner and one of the "Best Places to Work for LGBTQ+ Equality". In addition, Scotiabank's appeared on the 2021 Aequales PAR Rankings, which measures corporations in Latin Americaprogress towards gender equality and named one of Canada'sBest Diversity Employers.
For more information on Scotiabank's commitment to diversity, equity, and inclusion, visit: https://www.scotiabank.com/ca/en/about/our-company/diversity-and-inclusion.html
Scotiabank is a leading bank in the