TORONTO, Oct. 15,
2024 /CNW/ - Scotiabank announced today the release
of its first Truth & Reconciliation Action Plan, outlining 37
commitments designed to progress reconciliation with Indigenous
Peoples in Canada. Acknowledging
the barriers the Canadian financial system has created for
Indigenous Peoples and the efforts needed to rebuild relationships
of trust, the Plan includes detailed commitments that span across
six key areas: leadership and governance, education, employment,
community, clients and third parties, and environment and social
impact.
"Banks in Canada have a long
history with Indigenous People and communities that has, at times,
created barriers to their economic advancement," said
Scott Thomson, President and CEO at
Scotiabank. "Our Action Plan acknowledges that history and
represents the start of a transformational process for the Bank
with truth at the centre of our reconciliation efforts. Through
these meaningful, progressive actions, we will embed reconciliation
within our everyday business, foster a culture of inclusion, and
help advance economic opportunity for Indigenous employees,
clients, and communities."
The Bank's Action Plan was co-developed and informed by
Indigenous perspectives and responds to section 92 of the
Truth and Reconciliation Commission of Canada's Calls to Action.
In recent months, Scotiabank has also:
- Certified at Gold level for performance in Indigenous relations
through the Partnership Accreditation in Indigenous Relations from
the Canadian Council for Indigenous Business.
- Established a formal Statement of Truth and
Reconciliation.
- Supported truth sharing by amplifying the work of Indigenous
storytellers and initiatives like the Moose Hide Campaign.
- Partnered with Nch'ḵay̓ Development, Des Nedhe Group, and
Chippewas of Rama First Nation to establish Canada's first majority Indigenous-owned
investment dealer: Cedar Leaf Capital.
To access Scotiabank's Truth & Reconciliation Action Plan
visit
Scotiabank.com/TruthandReconciliation/ActionPlan.
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
July 31, 2024), Scotiabank trades on
the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange
(NYSE: BNS). For more information, please visit www.scotiabank.com
and follow us on X @Scotiabank.
SOURCE Scotiabank