In 2023, Bank of Nova Scotia conducted an environmental assessment and disclosed corporate waste management data in accordance with recognized sustainability reporting standards.The company provided a breakdown of its waste by type (hazardous vs non-hazardous) and treatment method (recovery vs disposal), enabling greater transparency into its waste handling and environmental practices.
| Metric (tonnes) | 2023 | 2022 | 2021 | 2020-2019 |
|---|---|---|---|---|
Total Waste Generated | 2,964.1a | 2,246.2a | 2,154.8a | |
Total Waste Recovered | 2,964.1a | 2,246.2a | 2,154.8a | |
Total Hazardous Waste Generated | 169.1a | 107.2a | 31.8a | |
Non-Hazardous Waste Disposed | N/A | N/A | N/A |
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In 2023, Bank of Nova Scotia generated a total of 2,964 metric tonnes of waste.a
Of this amount, 5.7% of Bank of Nova Scotia's total waste generated of was classified as hazardous waste, characterized by properties such as toxicity, flammability, corrosiveness, or reactivity that may pose risks to human health, ecosystems, or the environment.94.3% was identified as non-hazardous waste, generally considered less harmful and subject to lighter regulatory controls.a
Since 2019, Bank of Nova Scotia's total waste generation increased by 15.6%, including a 31.96% rise in 2023, reflecting a persistent upward trend that could be linked to operational growth, inefficient material use, or limited investment in waste prevention systems.a
Over the same period, the share of hazardous waste in Bank of Nova Scotia's total output increased by 669.87%, including a further 19.54% rise in 2023, suggesting a troubling upward shift toward more environmentally harmful waste streams that could raise compliance costs and environmental risks.a
Overall, Bank of Nova Scotia has seen a continuous rise in both total waste and hazardous waste over time, signaling a worsening environmental impact that may require urgent reassessment of material sourcing, production processes, or waste mitigation strategies.a