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The Bank of Nova Scotia, commonly known as Scotiabank, is a leading financial institution headquartered in Canada. Established in 1832, it has grown to become one of the largest banks in the country, with a significant presence in North America, Latin America, and the Caribbean. Operating within the financial intermediation services sector, Scotiabank offers a diverse range of products, including personal and commercial banking, wealth management, and investment services.
Scotiabank is renowned for its commitment to customer service and innovative financial solutions, making it a preferred choice for millions. The bank has achieved notable milestones, including its expansion into international markets and recognition for its corporate social responsibility initiatives. With a strong market position, Scotiabank continues to adapt to the evolving financial landscape, ensuring it meets the needs of its clients effectively.
83
DitchCarbon score
+46 vs industry average
Bank Of Nova Scotia’s score of 83 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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Industry Intensity
Very Low
Financial Intermediation is among the least carbon-intensive industries
Industry performance
0.096
20182025
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2028
202020212022202320242025202620272028
Reported emissions
Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e
Scope 3 accounts for ••• of total emissions.
Bank Of Nova Scotia's reported carbon emissions
Bank Of Nova Scotia, a Canadian financial intermediation services company, reported Scope 1 emissions of approximately 25,372,000 kg CO2e, market-based Scope 2 emissions of about 48,376,000 kg CO2e, and Scope 3 investments of 17,100 kg CO2e for 2025.
The Bank has set several climate commitments and reduction targets:
- Net-Zero Operations by 2030: Bank Of Nova Scotia aims to achieve net-zero emissions in its operations by 2030, with a focus on securing 100% non-emitting electricity in Canada by 2025 and globally by 2030 (Scope 1 and Scope 2).
- GHG Emissions Reduction: The Bank has a target to reduce its global Scope 1 and 2 GHG emissions by 25% by 2025 from a 2016 baseline. More recently, in 2023, this target was increased to a 40% reduction by 2030 from the 2016 baseline.
- Automotive Manufacturing Portfolio: Bank Of Nova Scotia aims for a 36% reduction in physical emission intensity across Scope 1, 2, and 3 downstream and upstream categories within its automotive manufacturing portfolio by 2030, using 2019 as a baseline.
- Net Zero by 2050: Bank Of Nova Scotia is committed to achieving net zero by 2050 across all scopes, including emissions associated with its lending activities. This includes a commitment to mobilize 100 billion USD in capital by 2025 to mitigate the impacts of climate change.
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Bank Of Nova Scotia’s Climate Goals (2030 & 2050)
2025
Near-zero scope 1 & 2
Target to achieve near-zero emissions for direct operations and purchased energy
On track94%
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
At risk48%
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
Behind target22%
Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.
Scope 3 top emissions categories
1 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
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Not active
Carbon Disclosure Project
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Active
The Climate Pledge
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Not active
UN Global Compact Climate Champions initiative
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Not active
RE 100
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Not active
Climate Action 100
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Not active
Emissions comparison with industry peers
View similar organisationsCompanyCountryIndustryLast updatedScoreDetails
Bank Of Nova Scotia3 months ago
83
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