ScotiaRISE supports 200 community partners
worldwide, investing $102
million over three years to help strengthen economic inclusion
at 1.6 million critical moments in time
TORONTO, April 22,
2024 /CNW/ - Today, Scotiabank released its 2023
ScotiaRISE Impact Report, outlining the contributions the Bank has
made since the inception of the ScotiaRISE initiative towards
programs and partnerships designed to promote economic resilience
and inclusion. In three years, the Bank has invested $102 million in funding globally for 200
organizations delivering programs supported by ScotiaRISE, helping
individuals from disadvantaged groups at 1.6 million critical
moments in time1.
The 2023 ScotiaRISE Impact Report demonstrates how the ten-year,
$500 million commitment and social
impact strategy is helping people in three focus areas: improving
high school and post-secondary participation, removing career
barriers, and supporting newcomer economic inclusion. ScotiaRISE
also invests in programs that address reclamation of Indigenous
language and culture as well as urgent and basic needs, such as
improving access to basic supports like food and water, shelter and
medical care.
"Our ambition for ScotiaRISE is inspired by our purpose as a
Bank, to be here for every future, and positively contribute
to the communities across our footprint," says Meigan Terry, Senior Vice President & Chief
Sustainability, Social Impact and Communications Officer at
Scotiabank. "The need for support has never been greater, and we
are proud to enable the efforts of a global network of community
organizations who are leading the way in making make greater
economic inclusion possible."
ScotiaRISE continues to evolve as it strives to meet the unique
needs of the global communities in which Scotiabank
operates. In 2023, ScotiaRISE refined its Latin America
and Caribbean regional strategy,
directing support to improve access to quality education, digital
skills development, career entry and advancement, and
community-based action for social harmony and human rights. In
2024, ScotiaRISE will commit at least 6% of its Canadian community
investment budget to fund Indigenous community organizations and
activities related to education, employment, and other program
areas.
ScotiaRISE was launched in 2021 and was recognized with a
Banking in the Community award in 2022 from The Banker,
reflecting the initiative's efforts to drive meaningful impact in
the communities the Bank serves.
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial
partner, to deliver sustainable, profitable growth and maximize
total shareholder return. Guided by our purpose: "for every
future," we help our clients, their families and their communities
achieve success through a broad range of advice, products and
services, including personal and commercial banking, wealth
management and private banking, corporate and investment banking,
and capital markets. With assets of approximately $1.4 trillion (as at January 31, 2024), Scotiabank trades on the
Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange
(NYSE: BNS). For more information, please visit
http://www.scotiabank.com and follow us on X @Scotiabank.
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1 Critical moments in time
are instances where an individual or group received support,
training and/or resources through a program supported by a
ScotiaRISE investment. Critical moments are reported proportionate
to the funding provided by ScotiaRISE for the specified period of
time, program or total investment received to date, as
applicable.
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SOURCE Scotiabank