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Select an assessment year:

  • Overall approach
    0/10
    • Overarching commitment on deforestation
      0/6
    • Deforestation as a business risk
      0/2
    • Target to reduce emissions in scope 1/2
    • Company must have anti-corruption policy
      0/2
  • Commodity score
    6/90
    • Beef & Leather
      5/90
      • Commitment Strength
        0/31
        • Commodity-specific deforestation financing policy
          0/9.6
          • Commitment details
            No commitment
            0/8
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must be legally operated
          0/4.6
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must monitor operations
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must conduct risk assessments
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must specify a cut-off date
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        5/27
        • Company must ensure Free, Prior and Informed Consent
          5.2/5.6
          • Commitment details
            Required
            4/4
            Commitment details
            Required
            4/4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must resolve land conflicts
          0/1.6
          • Commitment details
            No
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Reporting and Implementation
        0/31
        • Commitments must be timebound
          No
          0/5
        • Companies must disclose subsidiaries in commodity supply chains
          No
          0/4
        • Companies must disclose locations
          No
          0/4
        • Policy is reviewed and updated
          No
          0/2
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant companies
          No
          0/5
        • Reporting on implementation of the policy
          No
          0/6
        • Ethical product in portfolio
          No
    • Palm oil
      6/90
      • Commitment Strength
        0/31
        • Commodity-specific deforestation financing policy
          0/9.6
          • Commitment details
            No commitment
            0/8
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must be legally operated
          0/4.6
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must monitor operations
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must conduct risk assessments
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must specify a cut-off date
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        5/27
        • Company must ensure Free, Prior and Informed Consent
          5.2/5.6
          • Commitment details
            Required
            4/4
            Commitment details
            Required
            4/4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            Only applies to investments which are determined "high risk" - "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
             "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must resolve land conflicts
          0/1.6
          • Commitment details
            No
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Reporting and Implementation
        1/31
        • Commitments must be timebound
          No
          0/5
        • Companies must disclose subsidiaries in commodity supply chains
          No
          0/4
        • Companies must disclose locations
          No
          0/4
        • Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          "The Bank of Nova Scotia (the “Bank”) does not assume any responsibility or obligation to update or revise any statements in this document, regardless of whether those statements are affected by the results of new information, future events or otherwise... A year after the Green Bond’s issuance date, and every year thereafter until full allocation of the bond, Scotiabank will update investors on how the bond proceeds are allocated and share information on loans financed by the bond, in its Green Bond Annual Report."
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant companies
          No
          0/5
        • Reporting on implementation of the policy
          No
          0/6
        • Ethical product in portfolio
          No
    • Soy
      5/90
      • Commitment Strength
        0/31
        • Commodity-specific deforestation financing policy
          0/9.6
          • Commitment details
            No commitment
            0/8
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must be legally operated
          0/4.6
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must monitor operations
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must conduct risk assessments
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must specify a cut-off date
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        5/27
        • Company must ensure Free, Prior and Informed Consent
          5.2/5.6
          • Commitment details
            Required
            4/4
            Commitment details
            Required
            4/4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must resolve land conflicts
          0/1.6
          • Commitment details
            No
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Reporting and Implementation
        0/31
        • Commitments must be timebound
          No
          0/5
        • Companies must disclose subsidiaries in commodity supply chains
          No
          0/4
        • Companies must disclose locations
          No
          0/4
        • Policy is reviewed and updated
          No
          0/2
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant companies
          No
          0/5
        • Reporting on implementation of the policy
          No
          0/6
        • Ethical product in portfolio
          No
    • Timber, Pulp & Paper
      9/90
      • Commitment Strength
        0/31
        • Commodity-specific deforestation financing policy
          0/9.6
          • Commitment details
            No commitment
            0/8
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must be legally operated
          0/4.6
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must monitor operations
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must conduct risk assessments
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must specify a cut-off date
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        5/27
        • Company must ensure Free, Prior and Informed Consent
          5.2/5.6
          • Commitment details
            Required
            4/4
            Commitment details
            Required
            4/4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            Only applies to investments which are determined "high risk" - "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
             "The bank assesses the risks of its customers and, where appropriate, conducts enhanced due diligence on those who are considered higher risk. Our existing due diligence in regards to addressing and mitigating environmental and social risk is robust and considers environmental, social, health and safety, Indigenous Peoples and climate change risks on the same level of importance and adjudication scrutiny as traditional forms of financial risk. Scotiabank has policies and processes in place so that for project finance, corporate and commercial lending settings where substantial concerns may be reasonably expected, the bank conducts further due diligence on the finance recipient’s policies and practices for potential impacts on human and Indigenous Peoples’ rights. As a proud signatory to the Equator Principles, this includes utilizing its financial industry risk management framework for determining, assessing, managing and reporting environmental and social risks and whether projects meet our human rights expectations. For projects with potentially adverse impacts on communities, including indigenous communities, free, prior and informed consent (FPIC)1 will be required. At present, there is no universally accepted definition of FPIC and discussions are currently underway in furtherance of a universal definition of FPIC for the Equator Principles. Scotiabank is monitoring this closely as we are committed to adhering to the Equator Principles, including consideration of any definition of FPIC that receives widespread or universal adoption."
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must resolve land conflicts
          0/1.6
          • Commitment details
            No
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Reporting and Implementation
        4/31
        • Commitments must be timebound
          Encouraged
          2.5/5
          Commitments must be timebound
          Encouraged
          2.5/5
          "An amount equivalent to the net proceeds of Scotiabank‘s Green Bond will be allocated exclusively to finance or refinance, in whole or in part, new or existing Eligible Green Assets, which refer to loans made by Scotiabank for assets, businesses or projects that meet Scotiabank’s Green Bond Framework Eligibility Criteria as defined below. 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 the below list of eligible categories. [...] Sustainable forest management, including afforestation or reforestation, and certifications to recognized third-party standards such as Forest Stewardship Council (FSC) and the Programme for the Endorsement of Forest Certification (PEFC)"
        • Companies must disclose subsidiaries in commodity supply chains
          No
          0/4
        • Companies must disclose locations
          No
          0/4
        • Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          "The Bank of Nova Scotia (the “Bank”) does not assume any responsibility or obligation to update or revise any statements in this document, regardless of whether those statements are affected by the results of new information, future events or otherwise... A year after the Green Bond’s issuance date, and every year thereafter until full allocation of the bond, Scotiabank will update investors on how the bond proceeds are allocated and share information on loans financed by the bond, in its Green Bond Annual Report."
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant companies
          No
          0/5
        • Reporting on implementation of the policy
          No
          0/6
        • Ethical product in portfolio
          Yes
          Ethical product in portfolio
          Yes
          0/0
          "An amount equivalent to the net proceeds of Scotiabank‘s Green Bond will be allocated exclusively to finance or refinance, in whole or in part, new or existing Eligible Green Assets, which refer to loans made by Scotiabank for assets, businesses or projects that meet Scotiabank’s Green Bond Framework Eligibility Criteria as defined below. 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 the below list of eligible categories. [...] Sustainable forest management, including afforestation or reforestation, and certifications to recognized third-party standards such as Forest Stewardship Council (FSC) and the Programme for the Endorsement of Forest Certification (PEFC)"
  • Commitment strength
    0/31
    Avg. score
  • Reporting and Implementation
    1/31
    Avg. score
  • Social considerations
    5/28
    Avg. score

Profile

Scotiabank are a retail, corporate and investment bank headquartered in Canada. They offer insurance, personal investments, wealth management, corporate credit, capital markets and retail banking services. As of 2017, their total assets amount to more than 900 billion CAD with total lending of more than 490 billion CAD. Scotiabank are among the top lenders to Forest 500 companies, across a broad range of forest risk sectors.

HQ
HQ 
Canada
Financial institution type
Financial institution type 
Bank, Insurance Company

How we assess the Forest 500

Investors and lenders need to adopt and implement strong deforestation policies that ensure their investments are not funding the destruction of forests.

All assessments use policies published on financial institution websites, some links may have changed or been removed since the time of assessment.

Disclaimer

This assessment has been carried out following the methodology developed for the Forest 500 project, available here. Please see our disclaimer applicable to all information contained within this site and our terms and conditions for use of data presented on this site.

All assessments use policies published on company and financial institution websites, and while we endeavor to keep them updated some links may have changed or been removed since the time of assessment.

Please contact us with any concerns or feedback about this or other assessments included in the Forest 500.