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 38 is higher than 89% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Bank Of Nova Scotia's reported carbon emissions
In 2023, the Bank of Nova Scotia reported significant carbon emissions, totalling approximately 406,116,000 kg CO2e across all scopes. This includes 26,463,000 kg CO2e from Scope 1 emissions, 64,777,000 kg CO2e from Scope 2 emissions, and a substantial 565,453,000 kg CO2e from Scope 3 emissions, which encompasses categories such as capital goods and business travel. In previous years, the bank's emissions have shown variability. For instance, in 2022, total emissions were about 118,258,000 kg CO2e, with Scope 1 at 22,278,000 kg CO2e and Scope 2 at 89,838,000 kg CO2e. The bank has not publicly disclosed specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges, indicating a potential area for improvement in their climate strategy. Overall, the Bank of Nova Scotia's emissions profile reflects a complex challenge, particularly with the high levels of Scope 3 emissions, which are often the most difficult to manage. The bank's commitment to addressing climate change remains crucial as it navigates its environmental impact in the financial sector.
Unlock detailed emissions data
Access structured emissions data, company-specific emission factors, and source documents
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| 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 committed to any reduction initiatives 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.
