Strengthening Economic Resilience in Vulnerable Communities
Scotiabank has announced the expansion of its global social impact strategy, ScotiaRISE, with a projected investment of 500 million Canadian Dollars (CAD) by 2030. Since its launch, the program has channeled over 156 million CAD worldwide, benefiting thousands of people in the countries where the bank operates. The initiative focuses on promoting economic inclusion, access to education, and employment.
Collaborating with Non-Profit Organizations
ScotiaRISE stands out for operating through partnerships with non-profit organizations and foundations that share its vision of social and economic development. In Mexico, the bank collaborates with 27 local foundations, including the Fundación John Langdon Down, dedicated to providing comprehensive support for individuals with Down Syndrome. Scotiabank also works with associations offering care for deaf youth and vulnerable students, extending its reach across various social sectors.
Key Focus Areas of ScotiaRISE
The three fundamental pillars of the initiative focus on employability, education, and social cohesion. These areas aim to eliminate structural barriers and create opportunities for the most vulnerable groups.
- Employability: Developing programs that train and connect individuals facing difficulties in integrating into the labor market.
- Education: Approaching university and technical students through scholarships, mentoring, and academic strengthening programs.
- Social Cohesion: Promoting initiatives that strengthen inclusion and diversity, fostering the integration of vulnerable groups into society.
Scotiabank supports projects from non-profit organizations with a proven track record, chosen for their social impact, financial viability, and replication potential. Each initiative is rigorously evaluated and monitored, with results published in annual reports to ensure transparency and effectiveness.
Voluntariado y Compromiso Social en México
Active Participation in Corporate Volunteering
More than 9,000 Scotiabank employees in Mexico participate in the bank’s corporate volunteering program. For each hour donated, Scotiabank contributes 12 USD to partner organizations. With assets exceeding 1.4 trillion CAD, the bank reinforces its role as a driver of sustainable development and promoter of strategic alliances to build a more just, inclusive, and resilient society.
Key Questions and Answers
- What is ScotiaRISE? ScotiaRISE is Scotiabank’s global social impact strategy, focusing on economic inclusion, education, and employment for vulnerable communities.
- How does ScotiaRISE operate in Mexico? In Mexico, Scotiabank partners with 27 local foundations and associations to support initiatives promoting social cohesion, education, and employability.
- What are the three pillars of ScotiaRISE? The three pillars are employability, education, and social cohesion, aiming to eliminate barriers and create opportunities for vulnerable groups.
- How does Scotiabank support initiatives? Scotiabank supports projects from non-profit organizations with proven track records, evaluating and monitoring each initiative for transparency and effectiveness.
- What is the role of Scotiabank employees in Mexico? Over 9,000 Scotiabank employees in Mexico participate in the corporate volunteering program, contributing an hour’s worth of 12 USD donations to partner organizations.
