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Financing

Investing in the future

March 17, 2020

As part of Scotiabank’s Climate Commitments, we are working alongside our clients across Global Banking and Markets (GBM) to support them in the transition to a low-carbon economy. Our enterprise-wide commitment also includes decarbonizing our own operations and mobilizing funds – $100 billion by 2025 – towards addressing climate change.

 

“We recognize that managing environmental and climate risks is important to our clients around the world – it’s critical for their continued success and for every future,” said Cesare Roselli, Global Head of SSA (Sovereign, Supranational, and Agency) Origination at Scotiabank. “At GBM Europe, working in collaboration with our global teams, we recently completed two significant deals that showcase our Climate Commitment in action.”

 

  • Scotiabank acted as Joint Lead Manager on a 5-year CAD 500 million Climate Awareness Bond for the European Investment Bank (EIB). The proceeds from this bond will be allocated to EIB’s lending for activities that contribute substantially to climate change mitigation.

 

  • Scotiabank also acted as Joint Lead Manager and swap counterparty on a 5-year CAD 1.5 billion Global Sustainable Development Bond for the World Bank. The proceeds of this bond will be put towards the World Bank’s sustainable development goals, including clean water and sanitation.

 

“It is also important to note that Scotiabank’s Treasury was an investor in the EIB transaction,” said Michael Field, Director, Liquidity Portfolio & Business Management, Group Treasury at Scotiabank “The investment supports a part of our Liquidity Portfolio strategy, as we invest in eligible Greenbonds in keeping with our Climate Commitment.”

 

To learn more about Scotiabank’s approach to addressing climate change, please visit: www.scotiabank.com/sustainability

 

For more information about these transactions, please contact:

 

Cesare Roselli
Global Head of SSA Origination at Scotiabank
(0) 207-826-5849
cesare.roselli@scotiabank.com

 

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