The federal government’s massive increase in spending in response to the COVID-19 pandemic is contributing to “substantially better” economic outcomes than would have been the case without those measures, while raising net debt levels only marginally over what they would have been, a new Scotiabank Economics report says.
The economic impact of the pandemic on households and businesses would also have been worse without the stimulus, with unemployment reaching 15% as opposed to the anticipated 13%, the report says.
TORONTO, July 2, 2020 /3BL Media/ - Recognizing its unique opportunity as a global financial organization to advance climate transition and promote sustainable economic growth, Scotiabank is pleased to announce the launch of a new Sustainable Finance Group within its Global Banking and Markets (GBM) division. The new team will further Scotiabank's Climate Commitments, announced in November 2019, to support clients in the transition to a low-carbon economy, decarbonize its own operations and contribute to the global conversation on climate change.
Friday, June 12, 2020 /3BL Media/ – The Scotiabank Women InitiativeTM (SWI) and Forum for Women Entrepreneurs (FWE) have launched The Go-To: Special Edition podcast series, for women entrepreneurs. The Go-To podcasts focus on resilience. This special edition offers Canadian women entrepreneurs tips and insight into how they can build the capacity to grow, adapt and pivot to transform their business.
TORONTO, June 8, 2020 /3BL Media/ - Scotiabank announced a $500,000 commitment to several organizations recognized for their leadership in the fight to eliminate racial discrimination within Canada and the U.S. Scotiabank's contribution will be directed toward providing needed tools and educational resources for those groups most at risk of being subject to individual, institutional and systemic racism, with a focus on Black youth.
TORONTO, April 20, 2020 /3BL Media/ - Scotiabank released its 2019 Environment, Social and Governance (ESG) report, a comprehensive review of how the bank is working to build a more sustainable future for its stakeholders – from shareholders, to customers, employees, communities and the natural environment.
A small group of University of Ottawa faculty and students are making a big impact in the fight against COVID-19 by using their engineering know-how and 3D printers to produce much-needed face shields for frontline healthcare workers in the city.
Using the Richard L’Abbé Makerspace lab — where students in design courses can use the equipment and the space to test and prototype their designs — they are now making as many as 300 face shields a day as it becomes increasingly difficult globally to source protective personal equipment.
TORONTO, April 7, 2020 /3BL Media/ - In an effort to support those populations and communities most at risk during the COVID-19 outbreak, Scotiabank has committed $2.5-million to community response efforts across its footprint.