TORONTO, Nov. 5 /CNW/ - Scotiabank today announced the Bank was
recognized as a Carbon Disclosure Leader among Canadian companies committed to
providing investor transparency on climate change risks, opportunities and
strategies. The Carbon Disclosure Project (CDP) - an independent
not-for-profit organization founded in 2000 - recognized Scotiabank as a
Leader among low-carbon impact sector companies in Canada.
    "The Carbon Disclosure Project has not only improved transparency around
the potential corporate risks and opportunities that climate change presents,
but also around the business strategies developed to manage them," said Barb
Mason, Executive Vice-President, Wealth Management, Scotiabank. "Investors are
increasingly assessing this information when making investment decisions,
especially in the longer term."
    CDP is the largest investor coalition in the world, including more than
385 institutional investors - 40 from Canada - with a combined $57 trillion in
assets under management. Information generated by CDP is now available on
Bloomberg.
    CDP's sixth-annual request for information in 2008 received a record
1,550 responses from more than 3,000 companies worldwide. About 55 per cent of
200 Canadian companies surveyed responded. The information requests cover four
areas: management views on the risks and opportunities of climate change;
accounting of greenhouse gas emissions; strategies to reduce emissions,
minimize risk, or capitalize on opportunities; and corporate governance of
climate change issues.
    "Climate Disclosure Leaders generally demonstrated heightened awareness
of the climate change risks and opportunities facing their companies and
provided detail on the potential financial implications of climate change
risks and opportunities and the timing of the associated activities,"
according to a CDP report prepared by The Conference Board of Canada.
"Compared with other low-carbon impact sectors, companies in the banking
sector provided the highest quality of disclosure to the CDP."
    Scotiabank is listed on the 2008 Dow Jones Sustainability Index (North
America), the Jantzi Social Index and the FTSE4Good Index, which recognize the
world's financial, social and environmental corporate leaders.

    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 60,000 employees, Scotiabank
Group and its affiliates serve approximately 12.5 million customers in some 50
countries around the world. Scotiabank offers a diverse range of products and
services including personal, commercial, corporate and investment banking.
With $462 billion in assets (as at July 31, 2008), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit
www.scotiabank.com.