Within the framework of its commitment to sustainable management, Scotiabank subscribes to the United Nations Principles for Responsible Investment
PRESS RELEASE from Scotiabank Chile
November 23, 2022
This is an automated translation of the original press release issued in Spanish
Wednesday, November 23, 2022, Chile.- Scotiabank Chile took a new step in its commitment to promote responsible management that protects the environment and promotes sustainable and inclusive development. Through Scotia Administradora General de Fondos, the entity signed the United Nations Principles for Responsible Investment (PRI), whose mission is to advance towards a sustainable global financial system, which incorporates environmental, social and corporate governance (ASG) factors. in their investment decisions.
“Being part of this instance will be key to accompany our clients who increasingly require a more detailed evaluation of these types of factors and also ask us to identify new investment opportunities around ESG criteria. At the same time, it complements the Environmental Risk Policy approved this year at the local level, which includes the guidelines of our parent company in Canada”, indicated Ignacio Ruiz-Tagle, Vice President of Wealth Management, an area on which Scotia General Asset Management depends .
This global community has more than four thousand signatories from more than 60 countries, representing more than USD 120 trillion in assets, as well as a network of regulators, politicians, non-governmental organizations, academia and other actors that seek to promote sustainable finance. .
The six principles that govern the work of this body are the incorporation of ESG aspects in investment analysis and decision-making processes, as well as in asset ownership policies and practices; seek adequate disclosure of ESG aspects in the industry and in the entities in which the signatory institutions invest, ensure effective implementation of the principles and report on the progress of the activities implemented under the wing of these principles.
Sustainable management
The signing of these Principles is part of Scotiabank's Sustainability Strategy, which includes responsible management of ESG criteria -Environmental, Social and Corporate Governance.
One of the central themes of the Bank's strategy is caring for the environment, which is manifested globally in the adoption of commitments to contribute concretely to the transition to a low-carbon economy. These include mobilizing CAD 350 billion by 2030 to reduce the impact of climate change; reduce the impact of its own operations, improve the integration of climate risk assessments into financing activities, and establish a climate change center of excellence to contribute to global climate change research and dialogue.
Particularly in Chile, they have developed initiatives such as the approval of a local environmental risk policy, consolidation as leaders in advising on green and sustainable financing operations, while in social terms it promotes inclusive development through initiatives such as ScotiaINSPIRA, which encourages economic resilience of the communities where it is present in order to foster their greater inclusion and full development.
At the corporate governance level, the Bank focuses on maintaining close and trusting relationships with its clients, collaborators, shareholders, authorities and civil society, among stakeholders.
About Scotiabank Scotiabank is a leading bank in the Americas. Inspired by our corporate purpose, "for our future," we help our clients, their families, and their communities succeed through a full range of advice, products, and services in the personal and commercial banking, wealth management, private, corporate and investment banking, and capital markets. With a team of more than 90,000 employees and approximately $1.3 trillion in assets (as of July 31, 2022), Scotiabank is listed on the Toronto Stock Exchange (TSX: BNS) and the New York Stock Exchange. (NYSE:BNS). For more information, visit http://www.scotiabank.com and follow us on Twitter @Scotiabank.
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