April 10, 2017
Scotiabank showcases progress on CSR strategy
TORONTO--Scotiabank's new 2016 Corporate Social Responsibility (CSR) report highlights the bank's commitment to communities and discussing progress made on its CSR strategy: Better Future, Better Off.
"Scotiabank's continued commitment to CSR – in all of the geographies in which we do business – is an important component of the Bank's success," said Terri Williams, Vice President, CSR at Scotiabank. "As Canada's international bank, we understand how our commitment to being a socially responsible business positively impacts our customers, stakeholders, employees and the environment."
The 2016 CSR Report demonstrates how the Bank is making progress on its CSR priorities and creating value for society, including:
Increased access to finance for the unbanked, with Scotiabank growing the number of customers accessing microlending, rising from 2.4 million in 2015 to 2.7 million in 2016
New branch format pilot in Canada offering financial education and advice to Scotiabank customers and the general public through a range of free seminars to increase financial knowledge
Exceeded target of having 30 per cent of roles held by women in senior management (VP+ level) globally as part of diversity and inclusion focus
Exceeded five-year greenhouse gas emissions target of one per cent reduction one year early, achieved 28.68 per cent reductions between 2012 and 2016
Increased calculated authorized exposure to the renewable energy sector to $5 billion globally, up from $3 billion in 2015
A new philanthropic strategy established, focused on supporting organizations that help young people in the community reach their full potential focusing on health, well-being and education
The Scotiabank Retail Customer Loyalty Index measuring customer satisfaction rose to 59 per cent in 2016, up from 57.5 per cent in 2015 and above the Bank's target of 58 per cent
In 2016, we piloted the Net Promoter System (NPS), a new customer experience system that allows the Bank to listen more effectively to more customers, leveraging their feedback and responding in real-time
The Bank's CSR strategy: Better Future, Better Off is focused on our commitments to Customers, Employees, the Environment, Communities and Corporate Governance. Seven priorities underpin these five commitments; Access to Finance, Financial Knowledge, Diversity and Inclusion, Climate Change, Responsible Financing, Investing in Young People and Maintaining Trust.
The Bank's new CSR website will be updated regularly and feature stories on Scotiabank's CSR priorities, including how:
Scotiabank Mexico addressed the pollution problem in Mexico City by launching CrediAuto® Green Credit - making owning an eco-friendly vehicle more accessible to more people
Scotiabank Chile tackled unconscious bias head-on with an internal myth-busting campaign, focusing on gender equality, cultural diversity and inclusion of people with disabilities
Scotia iTRADE was the first in Canada to launch new sustainable investing tools, which allow direct investors to make investment decisions based on environmental, social and governance (ESG) factors
Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 23 million customers become better off 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.