Scotiabank's Efforts to Prioritize Gender and LGBT+ Equality Recognized
Scotiabank included in 2022 Bloomberg Gender-Equality Index and Scotiabank U.S. named one of the "Best Places to Work for LGBTQ+ Equality" by the Human Rights Campaign Foundation.
Originally published on Scotiabank Media Center
TORONTO, February 15, 2022 /3BL Media/ - For the fifth consecutive year, Scotiabank has been included in the 2022 Bloomberg Gender-Equality Index (GEI), a reference index that aims to track the performance of public companies committed to transparency in gender-data reporting and gender equality.
The 2022 GEI measures gender equality across five pillars: female leadership & talent pipeline, equal pay & gender pay parity, inclusive culture, anti-sexual harassment policies, and pro-women brand.
"We believe that inclusion makes us stronger, as a team within Scotiabank and for the diverse communities we serve every day," said Barb Mason, Group Head and Chief Human Resources Officer, Scotiabank. "Creating a workplace where everyone, regardless of gender, can bring their whole selves to work and thrive is critical to our success as a Bank and an employer of choice throughout the Americas."
In addition to the 2022 GEI, Scotiabank has been recognized as a Triple Winner and one of the "Best Places to Work for LGBTQ+ Equality" by the Human Rights Campaign (HRC) Foundation. Scotiabank U.S., Scotiabank Mexico and Scotiabank Chile achieved a perfect 100 percent score on the HRC's most recent Corporate Equality Index (CEI), a benchmarking report on corporate policies and practices in support of lesbian, gay, bisexual, transgender and queer (LGBTQ+) workplace equality.
Scotiabank's commitment to prioritize gender and LGBT+ equality include:
- This week, Scotiabank announced that it will be expanding those benefits further with a new global standard for parental leave across its global footprint by 2025. The enhanced offering includes 8 fully paid weeks for all parents welcoming a new child and 8 additional fully paid weeks for parents who have given birth. This new standard will be introduced in 24 countries across the Bank's footprint including Chile, Colombia, Mexico, Peru and more. Currently we have in place expanded top-up pay for maternity and parental leave in Canada, providing parents with greater flexibility to take time away from work to balance work/life priorities when it comes to raising a family.
- Scotiabank enhanced coverage for gender affirming procedures and benefits for all employees in Canada and the United States, as well as their dependents. In addition, Scotiabank has expanded its health care benefits to include the same-sex partners of employees in Trinidad and Tobago, joining Canada, United States, Brazil, Chile, Colombia, Costa Rica, Mexico, Panama, Peru and Uruguay.
- Building an inclusive workforce where 41 per cent of Vice Presidents and above in Canada, and 37 per cent of Vice Presidents and above globally, are women. In 2021, 41 per cent of executive appointments went to women as the Bank continues to work towards increasing the representation of women in VP and above roles to 40 per cent globally by 2025.
- Launched ScotiaRISE, Scotiabank's 10-year, $500 million initiative to promote economic resilience among underrepresented groups including LGBT+ people and women. To date, ScotiaRISE has deployed over $22 million in community investment to nearly 200 organizations including The 519, OutRight Action International's COVID-19 Global LGBTIQ Emergency Fund, Afghan Women's Organization, Dress for Success and Canadian Women's Foundation's Building Women's Economic Security in the Pandemic Project.
- The Scotiabank Women Initiative™ celebrated its third anniversary with plans to expand internationally. To date, it's deployed more than $3 billion in capital to women-owned and women-led business in Canada and this month launched in Jamaica.
This year, the 2022 Bloomberg Gender-Equality Index expanded globally to include 418 companies representing 45 countries and regions, including firms headquartered in Colombia and Uruguay. Member companies represent a variety of sectors, including financials, technology and utilities, which collectively have the highest company representation in the index.
For more information on Scotiabank's commitment to diversity, equity, and inclusion, visit: https://www.scotiabank.com/ca/en/about/our-company/diversity-and-inclusion.html
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, 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 a team of approximately 90,000 employees and assets of approximately $1.2 trillion (as at October 31, 2021), 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 Twitter @ScotiabankViews.
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