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 89% 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 1,000,000,000 kg CO2e globally, with significant contributions from Scope 1, 2, and 3 emissions. Specifically, Scope 1 emissions were about 40,611,600 kg CO2e, while Scope 2 emissions totalled approximately 6,477,700 kg CO2e. The bank's Scope 3 emissions were notably high, reaching around 565,453,000 kg CO2e, indicating a substantial impact from its supply chain and business travel activities. In Canada, the bank's emissions for 2023 included approximately 26,463,000 kg CO2e from Scope 1 and about 22,694,000 kg CO2e from Scope 2, alongside 1,030,000 kg CO2e from fuel and energy-related activities under Scope 3. Despite the high emissions figures, the Bank of Nova Scotia has not publicly committed to specific reduction targets or initiatives as part of its climate strategy. The absence of documented reduction targets suggests a need for further clarity on its long-term climate commitments and strategies to mitigate its carbon footprint. Overall, the bank's emissions data highlights the importance of addressing both direct and indirect emissions to align with global climate goals.
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Access structured emissions data, company-specific emission factors, and source documents
| 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.
