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 53 is higher than 97% 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 2023, the Bank of Nova Scotia reported total carbon emissions of approximately 1,038,669,000 kg CO2e. This figure includes 406,116,000 kg CO2e from Scope 1 emissions, which encompass direct emissions from owned or controlled sources, and 8,671,000 kg CO2e from Scope 2 emissions, related to indirect emissions from the generation of purchased electricity. The most significant portion of their emissions comes from Scope 3, amounting to 565,453,000 kg CO2e, which includes emissions from capital goods, business travel, and purchased goods and services. The bank has not disclosed specific reduction targets or initiatives aimed at decreasing its carbon footprint. However, it is essential to note that the financial services industry is increasingly under pressure to enhance sustainability practices and reduce emissions across all scopes. The Bank of Nova Scotia's commitment to addressing climate change aligns with broader industry trends, although specific strategies or targets have not been detailed in the available data. Overall, the Bank of Nova Scotia's emissions data highlights the need for ongoing efforts to manage and reduce carbon emissions effectively, particularly in the context of global climate commitments.
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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 | 000,000,000 | 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 | 0,000,000 | 00,000,000 |
| Scope 3 | 15,445,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 000,000 | 00,000,000 | 000,000,000 | - |
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.
