Homeowners now able to lower energy expenses, estimate retrofit savings while reducing their impact on the environment

TORONTO, April 20, 2012 /CNW/ - In advance of Earth Day and as part of its ongoing commitment to promote excellence in environmental stewardship, Scotiabank EcoLiving today announced the Home Energy Savings Calculator - an online tool that will help Canadians calculate home energy costs and see savings that can be achieved through specific energy efficiency projects, and everyday practices. The Calculator can be found at ecoliving.scotiabank.com/calculator.

"We are proud to partner with the Sustainable Housing Foundation to introduce the Home Energy Savings Calculator," said Kaz Flinn, Vice President, Corporate Social Responsibility. "Scotiabank recognizes that Canadians want to improve the energy efficiency of their homes and this Home Energy Saving Calculator will help by providing a clear equation of both current energy expenses and possible future savings."

The Calculator, developed exclusively by the Sustainable Housing Foundation for Scotiabank EcoLiving  creates a customized list of recommended retrofits, estimated costs, savings and payback time tailored to information entered by the homeowner about geographic location of their home, house style and size, levels of insulation and more. Suggested upgrades - from attic insulation to heating equipment - are listed starting with the best and easiest investments first.

"Forty-two per cent of us made improvements to our homes in 2010, and collectively spent over $20 billion in the process," said David Stafford, Managing Director of Real Estate Secured Lending for Scotiabank. "The savings and environmental benefits associated with reducing energy consumption at home are undeniable. This tool brings Canadian homeowners closer to making their dream retrofits a reality by helping them calculate the return on their investment."

"We were thrilled to partner with Scotiabank EcoLiving to develop a tool that helps Canadians increase the overall sustainability of their homes," said Craig Backman, Chairman, Sustainable Housing Foundation. "We are very proud of our final product, a user-friendly online resource designed to help homeowners realize the savings that come along with specific green projects and practices. Smart investments in home sustainability are the ultimate win-win."

The Home Energy Savings Calculator is the latest addition to the Scotiabank EcoLiving program, first introduced in 2010 to provide 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 recently introduced the EcoLiving Auto loan to help consumers purchase clean fuel vehicles.

The partnership with Sustainable Housing builds on a series of environmental initiatives by Scotiabank over the past several years. Scotiabank's recently released 2011 Corporate Social Responsibility Report outlines some of the Bank's recent major environmental initiatives and accomplishments, including:

• Introduction of the EcoLiving Auto Loan, a competitively priced loan for hybrid, electric and clean diesel vehicles.
• Introduction of an EcoEnergy Financing program to support Canadian personal and small business customers wishing to install small-scale renewable energy projects.
• A further five per cent bond copy paper reduction target, building on a reduction of twenty per cent achieved since 2008.
• Substantial progress in recycling initiatives internationally where recycling programs often are not initiated or managed by local government.

"Real change occurs a step at a time and we are happy to provide Canadians with information and tools that make energy efficiency changes easier," said Ms. Flinn.  "Through our partnerships, and corporate and employee activities, Scotiabank is proud to do its part to support environmental sustainability."

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.