Scotiabank’s vice-chair, Mark Mulroney, was identified on the attendee list of the far-right Alliance for Responsible Citizenship conference. His involvement, coupled with his history of criticizing progressive Canadian energy policies, suggests an alignment with politically extreme views that undermine progressive environmental and social initiatives.

Scotiabank unveiled its first Truth & Reconciliation Action Plan featuring 37 commitments aimed at improving relationships with Indigenous Peoples in Canada through reforms in leadership, governance, education, employment, and community engagement.

Scotiabank’s 1832 Asset Management significantly reduced its stake in Israeli arms manufacturer Elbit Systems amid protests and calls for divestment over the war in Gaza.

Scotiabank's asset management subsidiary reduced its stake in Israeli military tech company Elbit Systems last quarter. While the bank maintained that protests did not drive its decision, the move comes amid growing pressure to distance from controversial arms manufacturing, drawing both support and skepticism.

Scotiabank released its 2023 Modern Slavery Statement, outlining a comprehensive framework to prevent forced labor and modern slavery risks. The document details robust human rights assessments, extensive employee training, enhanced supplier due diligence including a revised Supplier Code, and measures to uphold high ethical standards in labor practices and supply chain management.

Scotiabank collaborated with BSR to refresh its Human Rights Assessment and update its Human Rights Statement. This strategic move aligns the bank’s policies with the UN Guiding Principles and enhances transparency and accountability in addressing human rights risks across its global operations and value chain.

On November 9, 2023, protestors picketed a Scotiabank branch to condemn the bank's significant investment—valued at approximately 450 million USD—in an Israeli private weapons manufacturer, linking the move to Canada's complicity in the conflict in Gaza. The protest, organized by various student and community groups, highlighted the ethical and political ramifications of directing funds toward arms manufacturing, especially amid reports of heavy civilian casualties in the ongoing conflict.

Activists in Canada held a protest on June 3, 2023, demanding that Scotiabank divest its $500 million investment in Israeli arms manufacturer Elbit Systems, which has been linked to war crimes. At the protest, demonstrators condemned the bank’s justification of its investment as solely shareholder-driven, highlighting the ethical implications of funding a company involved in conflict.

Activists delivered a petition at a shareholders meeting, urging Scotiabank to divest from Elbit Systems — an Israeli defense contractor linked to controversial arms production and alleged human rights abuses. The investment, made through its Dynamic Funds subdivision managed by an executive with a notable pro-Israel social media presence, has sparked ethical and political concerns.

At a shareholder meeting on April 6, 2023, human rights activists delivered a petition demanding that Scotiabank divest its $500 million stake in Elbit Systems, an arms manufacturer criticized for its involvement in human rights abuses in Palestine. The petition highlighted concerns over the bank’s asset management decisions and alleged inconsistency between its publicly stated commitment to responsible banking and its investments.

Scotiabank published its 2022 Modern Slavery Statement, detailing extensive policies and initiatives to mitigate modern slavery risks. The document outlines comprehensive human rights commitments, rigorous supplier due diligence, enhanced training for employees, and transparent risk management frameworks aimed at preventing human trafficking and forced labor within its operations and supply chain.

Scotiabank announced a Truth & Reconciliation Action Plan aimed at addressing historical financial system barriers faced by Indigenous Peoples, incorporating the UN Declaration on the Rights of Indigenous Peoples as a reconciliation framework, and committing to inclusive business practices and community engagement.

Scotiabank has published a comprehensive commitment to respect human rights in its operations, outlining policies on data protection, anti-bribery, anti-corruption, and supporting diverse communities. The announcement includes initiatives such as Project Shadow aimed at preventing online child exploitation and reinforcing ethical financial practices.

Scotiabank released its 2021 Modern Slavery Statement detailing comprehensive measures to prevent human rights abuses in its supply chain, including a strengthened Supplier Code of Conduct, enhanced third-party risk assessments, and robust internal policies aimed at mitigating modern slavery risks.