Scotiabank included in 2023 Bloomberg Gender-Equality Index for sixth consecutive year
TORONTO, Jan. 31, 2023 /CNW/ - Scotiabank has once again been included in the 2023 Bloomberg Gender-Equality Index (GEI), a market index that aims to track the performance of public companies committed to transparency in gender-data reporting.
"Scotiabank is committed to being the employer of choice for diverse talent, creating a work culture where women are supported to succeed and reach their fullest potential" said Barb Mason, Group Head and Chief Human Resources Officer, Scotiabank. "Being included in the Blomberg GEI for the sixth year in a row is a reflection of our dedication to workforce diversity, gender equality and transparency in gender reporting."
Updated annually to reflect emerging best practices, the framework for the GEI is based on five key pillars and offers companies a blueprint for measuring key social indicators aimed at tackling inequality in the workplace. Over 70 metrics are allocated to five pillars:
- Leadership & Talent Pipeline
- Equity Pay & Gender Pay Parity
- Inclusive Culture
- Anti-sexual Harassment Policies
- External Brand
Scotiabank's commitment to prioritize equality and the inclusion of women include:
- The identification, development and advancement of women in all areas and levels of our business. Scotiabank enacts gender-specific inclusion through various initiatives to drive the achievement of a strong talent pool, including eliminating biases in the recruitment and promotion processes and setting aspirational targets at the Vice President, and above, level. Throughout the year, Scotiabank hosts various women-only campus recruiting events for all business lines. In 2022, 52 percent of all interns/co-ops in Canada, and 57 per cent of all new grad rotational program associates, self identified as women.
- Increasing the representation of women in senior leadership roles where 42 per cent of Scotiabank Vice Presidents and above in Canada are women, a growth of 11 per cent since 2013, and 38 per cent of Vice Presidents and above globally.
- Recognition on The Globe and Mail's Women Lead Here list as best-in-class for executive gender diversity in corporate Canada for the second consecutive year.
- Recognition of two Scotiabank Vice Presidents in the Report on Business Best Executive Awards, an annual editorial initiative to celebrate exceptional non-CEO leaders in Canada.
- The appointment of Pamela Allen as CEO of MD Financial Management Inc., the first woman executive to hold that position.
- Scotiabank is an active contributor to the UN Global Compact Canada's Blueprint for Gender Equality, a maturity model assessment tool and resource database used to implement solutions to systemic, cultural and institutional barriers to achieving gender equality in the workplace.
- In 2023, Scotiabank will introduce a new enhanced offering for employees in Canada that includes eight fully paid weeks for all parents welcoming a new child and eight additional fully paid weeks for parents who have given birth. This new standard has been introduced in Trinidad & Tobago, Bahamas, Cayman Islands and Turks & Caicos and others. By 2025, this new standard will be implemented for Scotiabank employees in 24 countries across the Bank's footprint including Chile, Colombia, Mexico, Peru and more.
- In its fourth year, The Scotiabank Women Initiative™ is a comprehensive program that provides funding, advice and mentorship to women-owned and led businesses and offers guidance and support to women looking to move up in their careers and manage their wealth. In 2022, The Scotiabank Women Initiative in Canada increased its commitment to deploy capital to women-owned and women-led businesses to $10 Billion by 2025, and expanded to Chile, Jamaica and Costa Rica to further the impact of the program across Scotiabank's footprint.
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 over 90,000 employees and assets of over $1.3 trillion (as at October 31, 2022), 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 @Scotiabank.
For further information: Media inquiries: Krista Stewart, Global Communications, firstname.lastname@example.org, 647.299.4182