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At Scotiabank, we are committed to working towards leadership in corporate social responsibility, which we define as the way we interact with our stakeholders to meet our social, economic, environmental and ethical responsibilities. We do this by setting goals and measuring our performance, not only in terms of creating value for our shareholders, but also by our success in building customer and employee satisfaction and supporting the well being of the communities where we operate.

Scotiabank's 2003 Public Accountability Statement (PAS) is published in accordance with regulations of the Financial Consumer Agency of Canada. The PAS contains all necessary information as required under section 3 of Public Accountability Statements (Banks, Insurance Companies, Trust and Loan Companies) Regulations.

Canada is a member of the Organization for Economic Co-operation and Development (OECD), and subscribes to the 40 Recommendations and Eight Special Recommendations of the Financial Action Task Force (FATF). The initial 40 recommendations, developed in 1990, set out a comprehensive plan of action to fight money laundering. Eight additional special recommendations were issued by the FATF after the events of Sept. 11, 2001, to combat terrorist financing. Scotiabank complies with the recommendations.

It is the policy of the Scotiabank Group of Companies to comply with the laws and regulations of the countries in which we do business.

Scotiabank is a member of the following organizations:

  • The Canadian Employers Council, which was party to the creation of the United Nations International Labour Organization and the Declaration of Fundamental Principles and Rights at Work. This declaration addresses core labour standards, such as freedom of association and the prohibition of child labour.
  • The Ontario chapter of Canadian Business for Social Responsibility, a non-profit network of innovative companies working to improve their social, environmental and financial performance.
  • The Consumers Council of Canada.
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