Scotiabank Issues Canada's Largest Sustainability Notes at CAD 1.25 Billion, Including Nuclear Energy

Scotiabank issued CAD 1.25 billion in five-year Sustainability Notes on 26 September 2024. According to the bank, the transaction is the largest sustainability issuance by any financial institution in Canada and the first benchmark sustainability bond issued by any major bank anywhere in the world to include nuclear energy as an eligible use of proceeds.

Proceeds from the notes will be allocated to eligible green and social assets under Scotiabank's Sustainable Issuance Framework, the bank said in a press release.

SUSTAINABLE ISSUANCE SINCE 2019 REACHES CAD 5.7 BILLION

Since 2019, Scotiabank has issued a total of CAD 5.7 billion in green and sustainability-labelled debt.

Scotiabank's Sustainable Issuance Framework provides the governance structure within which such allocations are assessed and reported to investors.