Bank Of Nova Scotia
The Bank of Nova Scotia, commonly known as Scotiabank, is a leading financial institution headquartered in Toronto, Canada. Established in 1832, it has grown to become one of North America's largest banks, with a significant presence in various regions, including Latin America and the Caribbean. Operating within the banking and financial services industry, Scotiabank offers a diverse range of products, including personal and commercial banking, wealth management, and investment services. Its commitment to innovation and customer service sets it apart in a competitive market. With a strong market position, Scotiabank has received numerous accolades for its financial performance and corporate responsibility, solidifying its reputation as a trusted partner for millions of customers worldwide.
DitchCarbon Score
How does Bank Of Nova Scotia's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Bank Of Nova Scotia's score of 61 is higher than 79% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Bank Of Nova Scotia's reported carbon emissions
In 2024, the Bank of Nova Scotia reported total carbon emissions of approximately 25,475,000 kg CO2e for Scope 1 and about 63,759,000 kg CO2e for Scope 2. In 2023, the bank's emissions in Canada included approximately 26,463,000 kg CO2e for Scope 1, 22,694,000 kg CO2e for Scope 2, and 1,030,000 kg CO2e for Scope 3, specifically from fuel and energy-related activities. Globally, the 2023 emissions were about 27,402,000 kg CO2e for Scope 1, 64,777,000 kg CO2e for Scope 2, and 17,487,000 kg CO2e for Scope 3, which included business travel and fuel and energy-related activities. The Bank of Nova Scotia has set ambitious climate commitments, aiming for net-zero emissions across its operations by 2030. This includes a target to secure 100% non-emitting electricity in Canada by 2025 and globally by 2030. Additionally, the bank achieved a 20% reduction in Scope 1 and 2 greenhouse gas emissions from 2016 levels and aims for a further 25% reduction by 2025. These commitments reflect the bank's proactive approach to addressing climate change and reducing its carbon footprint, aligning with industry standards for sustainability and environmental responsibility.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 13,700,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 125,053,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 000,000 | 00,000,000 | 00,000,000 | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Bank Of Nova Scotia is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
