Bank of Nova Scotia (1 Nov 2018 – 31 Oct 2019)

Adoption Date: 25 Sep 2006
Country of Headquarters: Canada
Region of Headquarters: North America
Current EPFI Reporting Year/Period: 1 Nov 2018 - 31 Oct 2019
Institutional Reporting: Link to Report

 

Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the Equator Principles Association website.

Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.

Project Finance Advisory Services

Total number mandated in the reporting period: 8

Sector
Mining
Infrastructure 6
Oil & Gas
Power 2
Others
Sub-Total 8
Region
Americas 4
Europe, Middle East & Africa
Asia Pacific 4
Sub-Total 8

Project Finance Transactions

Total number that reached Financial Close in the reporting period: 4

Equator Principles Category A1 B2 C3
Sector
Mining
Infrastructure 1
Oil & Gas 1
Power 1 1
Others
Region
Americas 1 1 2
Europe, Middle East & Africa
Asia Pacific
Country Designation
Designated Country4 1 1 2
Non Designated Country
Independent Review
Yes 1 1 2
No
Totals 1 1 2
1

Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.

2

Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.

3

Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.

4

Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment. See list of Designated Countries.

Project-related Refinance & Project-related Acquisition For Project Finance

This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.

Project Name Reporting For Project Finance (And Project-related Refinance & Project-related Acquisition Finance For Project Finance)

No. Project Name Sector Country(s) Year of Financial Close
1 Regional Express Rail - Rutherford GO Station Project Infrastructure Canada 2018
2 Venture Global Calcasieu Pass Project Oil & Gas United States 2019
3 Energy Services Acquisition / Modernization Project Power Canada 2019
4 Wataynikaneyap Power Project Power Canada 2019

Project-Related Corporate Loans

Total number that reached Financial Close in the reporting period: 3

Equator Principles Category A1 B2 C3
Sector
Mining 1
Infrastructure
Oil & Gas 2
Power
Others
Region
Americas 3
Europe, Middle East & Africa
Asia Pacific
Country Designation
Designated Country4 3
Non Designated Country
Independent Review
Yes 2
No 1
Totals 3
1

Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.

2

Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.

3

Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.

4

Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment. See list of Designated Countries.

Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans

This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.

Project Name Reporting For Project-related Corporate Loans (And Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans)

Number of projects that were not disclosed as per the disclosure conditions specified in Annex B of the Principles: 3

Under EP4, project name reporting is encouraged for Project-Related Corporate Loans that have reached Financial Close and required for Project Finance transactions that have reached Financial Close.

EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.

Implementation of the Equator Principles

Scotiabank has a robust set of tools and guidance documents to help ensure that banking and credit officers leading project finance transactions have the necessary information to meet Equator Principles requirements.  The credit unit and senior management provide oversight on transactions.  Two dedicated environmental and social risk managers are available to the deal team to provide advice and counsel when necessary.

Further detail is available here.