This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Bank of Nova Scotia (1 Nov 2019 – 31 Oct 2020)
| Signing Date | 25 Sep 2006 |
| Region of Headquarters: | North America |
| Current EPFI Reporting Year/Period: | 1 Nov 2019 - 31 Oct 2020 |
| Institutional Reporting: | Link to Report |
Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the EP 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: 6
| Sector | |
|---|---|
| Mining | 1 |
| Infrastructure | 5 |
| Oil & Gas | |
| Power | |
| Others | |
| Sub-Total | 6 |
| Region | |
|---|---|
| Americas | 6 |
| Europe, Middle East & Africa | |
| Asia Pacific | |
| Sub-Total | 6 |
Project Finance Transactions
Total number that reached Financial Close in the reporting period: 7
| Equator Principles Category | A1 | B2 | C3 |
|---|---|---|---|
| Sector | |||
| Mining | |||
| Infrastructure | 2 | ||
| Oil & Gas | 1 | 1 | |
| Power | 2 | ||
| Others | 1 | ||
| Region | |||
| Americas | 1 | 4 | 2 |
| Europe, Middle East & Africa | |||
| Asia Pacific | |||
| Country Designation | |||
| Designated Country 4 | 1 | 4 | 2 |
| Non Designated Country | |||
| Both | |||
| Independent Review | |||
| Yes | 1 | 4 | 2 |
| No | |||
| Totals | 1 | 4 | 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.
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 | Project Location(s) | Year of Financial Close |
|---|---|---|---|---|
| 1 | Coastal Gaslink Pipeline | Oil & Gas | Canada | 2020 |
| 2 | Wink to Webster Pipeline System | Oil & Gas | United States | 2020 |
| 3 | Renovation of La Fontaine Tunnel | Infrastructure | Canada | 2020 |
| 4 | New Adult Mental Health and Addictions Facility | Infrastructure | Canada | 2020 |
Note, Project name reporting for Project Finance transactions (Nov 2019 – Oct 2020)
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 required for Project Finance transactions that have reached Financial Close and encouraged for Project-Related Corporate Loans that have reached Financial Close.
Project-Related Corporate Loans
Total number that reached Financial Close in the reporting period: 2
| Equator Principles Category | A1 | B2 | C3 |
|---|---|---|---|
| Sector | |||
| Mining | |||
| Infrastructure | 1 | ||
| Oil & Gas | |||
| Power | 1 | ||
| Others | |||
| Region | |||
| Americas | 1 | ||
| Europe, Middle East & Africa | |||
| Asia Pacific | 1 | ||
| Country Designation | |||
| Designated Country 4 | |||
| Non Designated Country | 1 | 1 | |
| Both | |||
| Independent Review | |||
| Yes | 1 | 1 | |
| No | |||
| Totals | 1 | 1 | |
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.
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: 2
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 internal risk management documents that direct Banking and Credit Officers to ensure compliance with the Equator Principles (EPs) for in-scope transactions. These documents describe each of the EPs requirements and provide instructions on how to comply with them. They also outline Scotiabank’s internal review, approval and escalation procedures for these transactions. The Bank’s credit unit and senior management provide oversight and approval of EP transactions. Also, two dedicated environmental and social risk managers are available to provide technical advice and counsel, and training on all aspects of the EPs, when necessary. This team is also responsible for the Bank’s annual EPs reporting. Scotiabank has also developed an internal mandatory training course on environmental and climate change risk management, which includes a section on the EPs. The Banking and Credit Officers that are involved with project-related transactions are required to take this course annually. Refer to Scotiabank’s Impact and Responsibility website for more information.