Scotiabank Creates a Better Future through CSR Commitments
(3BL Media/Justmeans) – Companies can contribute to a better future for the society, and at the same time, enjoy better business, when they focus on these five areas of commitment: Customers, Employees, Communities, the Environment, and Corporate Governance. To create sustainable growth, companies must leverage their capabilities for the benefit of all stakeholders and the communities where they operate.
Scotiabank’s CSR strategy, “Better Future, Better Off,” focuses on all these commitments by working on seven priorities: Access to Finance, Financial Knowledge, Diversity and Inclusion, Climate Change, Responsible Financing, Investing in Young People and Maintaining Trust.
The Bank’s 2016 Corporate Social Responsibility (CSR) report highlights its commitment to communities and demonstrates how the Bank is making progress on its CSR priorities and creating value for the society. According to Terri Williams, the Bank’s VP for CSR, as Canada’s international bank, Scotiabank understands how its commitment to being a socially responsible business positively impacts various stakeholders and the environment.
To improve access to finance for the unbanked, Scotiabank is promoting microlending. Its number of customers accessing microlending has risen from 2.4 million in 2015 to 2.7 million in 2016. The Bank has been recognized by the Canadian Federation for Independent Business as the top big bank in Canada for Small Businesses in 2016.
The bank has launched Scotiabank Presents, a series of classes that promote financial knowledge on a variety of real life topics. The classes are taught in the foyer of the new Scotiabank Solutions branches in Guelph and Kitchener, Ontario, Canada. The classes are offered free of charge to any member of the community, whether a customer of Scotiabank or not.
Scotiabank exceeded its target of having 30 percent of roles held by women in senior management (VP+ level) globally as part of its diversity and inclusion focus. The Bank has been named one of the 2016 Best Workplaces in Central America and the Caribbean, and won the Best Multinational Workplace Award at the 2016 Diversity and Inclusion Awards.
The Bank exceeded its five-year greenhouse gas emissions target of one percent reduction one year early, achieving 28.68 percent reductions between 2012 and 2016. It has increased calculated authorized exposure to the renewable energy sector to $5 billion globally, up from $3 billion in 2015.
Source: 3BL Media