Scotiabank EcoLiving Auto Loan available at car dealerships across Canada

TORONTO, March 22, 2012 /CNW/ - Scotiabank is pleased to announce a new loan program for Canadians considering the purchase of new, more eco-friendly automobiles. The Scotiabank EcoLiving Auto Loan program provides highly competitive loan pricing on a wide array of 2011 and 2012 hybrid, electric and clean diesel vehicles.

"There is rising interest in green vehicles and consumers need the right information and financing choices to make the switch to greener technologies," said Ron Porter, Senior Vice-President Automotive Finance and Indirect Lending, Scotiabank. "With the help of the EcoLiving Auto Loan, we can give dealers a powerful financing tool to put their customers behind the wheel of green vehicles."

Porter noted there is considerable potential for green car sales in Canada. Canadian car-buyers have embraced hybrids, making Canada the third largest market for hybrid vehicles, after the U.S. and Japan. According to Scotiabank Senior Economist, Carlos Gomes, there has been a significant acceleration in sales of green vehicles over the past six months with volumes expanding at a robust double-digit pace.

The new auto financing option is part of the Scotiabank EcoLiving program, which provides Canadian homeowners with resources that help save money, reduce energy usage and contribute to a healthier home and planet. In addition to the information-packed EcoLiving website (www.ecoliving.scotiabank.com), the Bank offers Scotiabank EcoEnergy Financing for renewable energy projects and the Scotia Global Climate Change mutual fund.

In launching the EcoLiving Auto Loan program, Scotiabank also announced a $25,000 donation to the Nature Conservancy of Canada (NCC). In addition, Scotiabank Dealer Finance has pledged to make a $10 donation to the NCC for each loan booked under the new program.

"Scotiabank is committed to corporate social responsibility," said Mr. Porter.  "We support the environment by introducing environment-friendly initiatives that give our customers more "green" choices and by making charitable donations to organizations like the Nature Conservancy of Canada."

As Canada's leading private national land conservation organization, NCC partners with Canadians to protect and care for the country's most important natural areas through property purchases and long-term land stewardship.

"NCC is pleased to be working with Scotiabank. Since 1962, NCC and our partners have helped to conserve more than one million hectares of ecologically significant land nationwide," said Lynn Gran, Vice-President of Strategic Philanthropy for NCC. "Through the EcoLiving Auto Loan donation program, funds will go towards our stewardship work which will increase our ability to protect Canada's critical natural areas and endangered species."

About Scotiabank EcoLiving Program
The Scotiabank EcoLiving Program launched in June, 2010. The website, www.scotiabank.com/ecoliving, is a unique online consumer resource that provides home greening options together with government rebate and financial savings information all in one place - providing an easy-to-use resource for Canadians to learn about, plan and compare green home improvement options. The website includes project planning tools and a financial calculator to allow visitors to compare products and rebates, plan and finance their projects and see the savings that can result from each energy efficient renovation. The EcoLiving magazine is available twice yearly in Scotiabank branches and the Scotiabank EcoLiving Awards recognize innovation in residential energy efficiency.

About Scotiabank
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 77,000 employees, Scotiabank and its affiliates serve some 19 million customers in more than 55 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $637 billion (as at January 31, 2012), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

About the Nature Conservancy of Canada 
The Nature Conservancy of Canada (NCC) is the nation's leading not-for-profit private land conservation organization, working to protect our most important natural areas and the species they sustain. Since 1962 NCC and its partners have helped to protect more than 2.6 million acres (1 million hectares), coast to coast. To learn more visit www.natureconservancy.ca.