TORONTO, Dec. 12 /CNW/ - Scotiabank today welcomed its one millionth
paperless banking customer, celebrating another milestone in the Bank's
ongoing efforts to reduce its environmental footprint and support sustainable
forestry practices.
    "Paper consumption is a major component of Scotiabank's environmental
footprint because of our extensive customer communications, administrative and
documentation processes," said Kaz Flinn, Vice-President, Corporate Social
Responsibility, Scotiabank. "Each year, more customers perform transactions
online and select Scotia OnLine's paperless options, helping us reduce paper
consumption."
    The Bank embarked on its paperless banking campaign in 2006, with strong
customer acceptance to reach the one million mark. With paperless
recordkeeping, Scotia OnLine customers choose not only to forego day-to-day
banking statements, but also to do without passbook updates.
    "Scotiabank is committed to continue our efforts to provide customers
with more options to receive and convert their bank documents to electronic
equivalents," said Jason Charlebois, Vice-President, Self-Service Banking,
Scotiabank.
    Scotiabank's paperless banking option provides customers with Scotia
OnLine transaction histories of up to 18 months, as well as free electronic
images of cheques cleared within 90 days. The concept is not only good for the
environment, it also helps reduce clutter around the house and spares
customers from having to file or shred monthly statements. Scotia Online
customers can sign up anytime by selecting the "Change Recordkeeping Option,"
or by calling 1-800-4-SCOTIA (1-800-472-6842).
    Also, some 350,000 Scotiabank customers have registered to receive their
bills electronically through Canada Post's epost service, which sends
paperless credit card, utilities or other monthly bills directly to their
online accounts.
    "Scotiabank is actively promoting paperless banking options to customers
where appropriate," added Ms. Flinn. "In addition to reducing our
environmental footprint, we recognize that careful management and reduction of
our paper consumption can help reduce our operating costs."
    Earlier in 2008, Scotiabank introduced a new Environmental Paper Policy,
detailing the Bank's commitment to further integrating environmental
considerations into its purchasing decisions, setting a reduction target for
paper use and expanding recycling programs in its international operations.
The Bank has also made a commitment to purchasing multi-functional office
equipment - which combines devices such as photocopiers, printers and fax
machines into single units - in order to enhance energy efficiency and reduce
the consumption of paper.
    The new paper policy expands Scotiabank's conversion to the use of
products certified by the Forestry Stewardship Council (FSC), adding bond copy
paper - a significant portion of overall paper purchases - to the Bank's
growing inventory of FSC-certified paper supplies, including envelopes,
business cards and corporate publications, such as annual reports. The Policy
is available at www.scotiabank.com/csr.
    In 2008, Scotiabank also provided financial support to WWF-Canada for its
work with the Forest Products Association of Canada (FPAC), which has
committed to a goal of achieving industry-wide carbon neutrality- without
carbon offset credits - by 2015.
    Internationally, Scotiabank is introducing technologies and processes
that deliver both operational efficiencies and environmental benefits. For
example, Scotiabank also offers Internet banking in the Caribbean, as well as
Central and South America. In Jamaica, 50,000 customers complete about 120,000
logins per month and in Chile, more than 58,000 retail and 12,200 business
clients perform monthly transactions, resulting in more than 38 million online
transactions in 2008.

    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 $508 billion in assets (as at October 31, 2008), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit
www.scotiabank.com.