Bank Of Nova Scotia

Bank Of Nova Scotia's reported carbon emissions

Bank of Nova Scotia (Scotiabank), headquartered in Canada and operating within financial intermediation services, has reported a total of approximately 88.39 million kg CO2e for Scope 1 and 2 emissions in 2025. This figure represents a reduction from previous years, with Scope 1 emissions totalling about 25.37 million kg CO2e and Scope 2 market-based emissions estimated at 48.38 million kg CO2e. Scope 3 emissions, specifically from investments, were approximately 17,100 kg CO2e in the same year. In 2024, total Scope 1 and 2 emissions were approximately 89.23 million kg CO2e, with Scope 1 at about 25.48 million kg CO2e and Scope 2 market-based at approximately 63.05 million kg CO2e. Scope 3 investments were around 18,000 kg CO2e. Scotiabank is committed to significant emission reductions. They aim to achieve net-zero emissions in their operations by 2030, which includes securing 100% non-emitting electricity globally by 2030 and in Canada by 2025. Furthermore, the bank has set a target to reduce Scope 1 and 2 GHG emissions by 40% by 2030, using a 2016 baseline. This is an increase from their previous target of a 35% reduction. Historically, in 2018, Scotiabank reported total emissions of approximately 147.74 million kg CO2e, comprising Scope 1 emissions of about 15.73 million kg CO2e and Scope 2 emissions of approximately 111.99 million kg CO2e. Scope 3 emissions from business travel were around 20.02 million kg CO2e. In 2016, Scope 1 and 2 emissions were approximately 138.75 million kg CO2e. Scotiabank is also working to reduce intensity of upstream Scope 3 emissions by 36% by 2030, and downstream Scope 3 emissions by 36% by 2030. The bank has a target to achieve a 25% reduction in Scope 1 and 2 GHG emissions globally from a 2016 baseline by 2025, and has already achieved a 20% reduction from the 2016 baseline.