Scotiabank announced it achieved a 25% reduction of Scope 1 and 2 GHG emissions (from 2016 levels), four years ahead of its 2025 target. The investment bank is also on track to meet its target of 100% non-emitting electricity for Canadian operations by 2025 and 100% for its global footprint by 2030. Scotiabank also established a $10 million Net-Zero Research Fund to advance research and leadership in support of global decarbonization efforts and selected its first cohort of grant recipients. Details were provided in its 2021 Environment, Social and Governance Report. "Banks are drivers of prosperity, partners that enable the success of businesses small and large, a critical part of the social fabric, and engines of economic growth," said Brian Porter, President & CEO Scotiabank in a statement. "How we choose to bank impacts the world around us, particularly in relation to environmental, social, and governance issues.