Market Insights

Scotiabank was honoured as recipient of the ‘Investment Bank of the Year for Sustainable SSA Financing’ award by The Banker Investment Banking Awards 2023. Scotiabank garnered this international recognition for financing solutions for Sovereigns, supranationals and agencies globally, considering its clear client focus, innovative sustainable finance products and solutions, and participation in notable mandates.

The Banker has been a trusted source of economic and financial intelligence to the world’s financial sector for more than 90 years. This award recognizes Scotiabank’s capabilities across the Americas and global markets, which have enabled the Bank to offer innovative solutions tailored to region-specific sustainability issues and add to the advancement and maturity of the global sustainable SSA financing market.

In particular, during the period July 2022 to June 2023, Scotiabank supported more than 18 sustainable SSA transactions across various geographies. Among them, Scotiabank acted as Joint Bookrunner and Sustainability Structuring Agent for Estado de Mexico’s (EDOMEX) US$142 million sustainable bond, an inaugural ESG-labelled bond by the Mexican state with proceeds going towards green and social infrastructure products. Within the Multilateral and Agency sector, Scotiabank also served as Joint Bookrunner on a variety of transactions, the largest of which was the US$1.750 billion, sustainable development bond issued by The World Bank’s International Bank for Reconstruction and Development. Additionally, Scotiabank acted as Joint Bookrunner and Advisor on the Government of Canada’s C$500 million Ukraine Sovereignty Bond, whose proceeds will assist the Ukraine government in delivering essential services and restoring energy infrastructure.

The Banker award also acknowledged recent innovations introduced by Scotiabank, including the continued expansion of its respected global Sustainable Finance team, and ESG analysis and reports by the Bank’s award-winning ESG Equities Research team.

Scotiabank extends its deepest thanks to its clients, with whom it shares this accolade. The Bank is grateful to these distinguished Sovereigns, supranationals and agencies that have placed their trust in Scotiabank to deliver important financing mandates that are making an impact.

Learn more about our Sustainable Finance Group

Learn more about our recent awards