Scotiabank Showcases Progress on CSR Strategy: Better Future, Better Off
Scotiabank published its 2016 Corporate Social Responsibility report, Investing in Progress, as well as a new CSR website today.
In this report Scotiabank discusses the progress made on its CSR Strategy: Better Future, Better Off. Scotiabank believes that every customer has the right to become better off. Our CSR commitments to Customers, Employees, the Environment, Communities and Corporate Governance demonstrate how we are creating value for both society and the Bank.
Seven priorities underpin these five commitments; Access to Finance, Financial Knowledge, Diversity & Inclusion, Climate Change, Responsible Financing, Investing in Young People and Maintaining Trust. The 2016 CSR Report and Website demonstrate progress with KPIs and stories focussed on each of these priorities. Highlights include:
- Increased access to finance for the unbanked with Scotiabank growing the number of customers accessing microlending, rising from 2.4 million customers in 2015 to 2.7 million in 2016
- New branch format pilot in Canada provides financial education and advice to Scotiabank customers and the general public through a range of free seminars to increase financial knowledge
- Exceeded target of having 30% of roles held by women in senior management (VP+ level) globally as part of diversity & inclusion focus
- Exceeded five-year greenhouse gas emissions target of 15% reduction one year early, achieved 28.68% reductions between 2012 and 2016
- Increased calculated authorized exposure to the renewable energy sector to $5 billion globally, up from $3 billion in 2015
- A new community investment strategy established, supporting organizations that help young people in the community reach their full potential by investing in health & well-being and education programs
- Maintaining trust by piloting the Net Promoter System (NPS), a new customer experience system that allows us to listen more effectively to more customers, leveraging their feedback and responding in real-time.
“Scotiabank is one of Canada’s longest-enduring companies — we are proud to be one of the largest 25 banks in the world, with 23 million customers and operations in almost 50 countries. The report and stories reflect the deep pride in the role Scotiabank and our employees continue to play in supporting strong communities, a healthy environment and economic growth.” Brian Porter, Scotiabank CEO.
This year Scotiabank produced a separate Global Reporting Initiative (GRI) Index highlighting social, economic and environmental disclosure. We also published our 2016 Public Accountability Statement as required by the Financial Consumer Agency of Canada.
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