Scotiabank Wins Best Corporate Sustainability Strategy Award

Scotiabank (TSE: BNS) has won Best Corporate Sustainability Strategy at the 2022 ESG Investing Awards. ESG Investing is the excellence awards global leader in ESG (environmental, social, and governance issues) research, rating, funds, and products.

Positive Contribution Towards ESG Investing

The ESG Investing Awards are in their third edition. An independent panel of industry and academic experts serve as the judges. Awards are given to products, funds, and initiatives that have the most impact and positively contribute to the integrity, interest, and success of ESG investing.

The ESG Investing Awards are the only distinctions that evaluate the best companies participating in all aspects of ESG investing anywhere in the world.

Scotiabank’s ESG approach is based on four pillars – Environmental Action, Economic Resilience, Inclusive Society, and Leadership & Governance – to maximize the bank’s impact in advancing environmental, social, and government issues.

Management Commentary

“We are so proud to win Best Corporate Sustainability Strategy at this year’s ESG Investing Awards and to be recognized for our leadership in investing in our communities, addressing climate risk, and promoting racial and gender equality,” said Meigan Terry, Senior Vice President and Chief Social Impact, Sustainability and Communications Officer at Scotiabank.

“As a leading bank in Canada and across the Americas, Scotiabank recognizes the important role we play in building a more resilient, inclusive, and sustainable world.”

Wall Street’s Take

Two weeks ago, Barclays analyst John Aiken kept a Hold rating on BNS with a price target of C$96. This implies 3% upside potential.

The rest of the Street is bullish on BNS with a Strong Buy consensus rating based on six Buys and one Hold.

The average Bank of Nova Scotia price target of C$95.59 implies 2.5% upside potential to current levels.

TipRanks’ Smart Score

BNS scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock returns have strong chances to beat the overall market.

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