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Scotiabank TT - For Every Future a Better Tomorrow
So far in 2021, Scotiabank Trinidad & Tobago has invested in projects that supported community and youth development, impacting the lives of approximately 85,196 individuals, 54,717 youths in 570 schools, organisations and communities.
The Covid-19 pandemic has changed the world in pivotal ways. The negative impacts on social and economic structures will be felt for a long time to come, but these impacts also provided realistic yardsticks to assess the ability of current global systems to withstand and adapt to planet level events such as pandemics and Climate Change. The International Monetary Fund (IMF) has suggested that many Caribbean states are also at risk as most countries rely heavily on tourism and/or single source export. Due to their small size and limited room for maneuver, Caribbean economies were among the most affected by the pandemic.
The financial sector has a critical role to play in the region’s economic, social, and environmental recovery and wellbeing, especially in light of changing patterns of CSR formats, which are now moving from short-term corporate donations towards multi-pronged projects which fulfill the UN’s Sustainable Development Goals (SDGs) and consider Environmental, Social and Governmental (ESG) metrics and reporting.
Scotiabank worldwide has been a frontrunner in mainstreaming the SDGs into its philanthropic investments and this has been demonstrated very tangibly in Trinidad and Tobago, through the Scotiabank Trinidad and Tobago Foundation, and the wider Caribbean.
Gayle M. Pazos, Managing Director of Scotiabank Trinidad and Tobago, as well as senior VP and head of the Caribbean South and East shared the following view, “Scotiabank believes that the long-term success of our Bank and the planet are fundamentally intertwined. By systematically assessing the areas in which we have the biggest impacts, especially given the force of Covid 19, we create economic, social and environmental value for our customers, employees, communities and our environment, while delivering returns for our shareholders. So far in 2021, Scotiabank Trinidad & Tobago has invested in projects that supported community and youth development, impacting the lives of approximately 85,196 individuals, 54,717 youth in 570 schools, organisations and communities.”
Combatting Covid 19
Covid19’s strain on resources globally, directly challenged SDG achievements - specifically, that of Good Health and Well-being, No Poverty, Quality Education, Decent Work and Economic Growth, and Reduced Inequality. Scotiabank recognised the gaps and set out to assist in closing them. Consistent with its commitment to deliver on the SDG goals through strategic partnerships with local charities, Scotiabank has provided protective equipment, food, medical and relief supplies to more than 26,000 persons in need throughout Trinidad and Tobago.
The organisation also addressed some of the “invisible” but critical social issues emerging from the pandemic. One such intervention was the delivery of counselling services to victims of domestic abuse as case numbers were heightened during the lockdown periods. Scotiabank also recognised the efforts of frontline healthcare workers and the risk they faced for burnout at the height of the pandemic by providing 10,000 meals to these essential medical workers.
Engaged employees
Scotiabank employees are very involved in its sustainability programmes. Employees have been engaged in service to the community to alleviate the impact of Covid-19 on lives and livelihood. Many workers gave their time to managing the Government’s Assistance Programme Hotline. This service provided much needed comfort to people trying to navigate these unprecedented times, and in many cases, just needed a voice at the other end of the phone.
Other employees were on hand to assist the various charities in the packaging and distributions of meals and essential items across communities while other staffers worked with relief organisations, such as the United Way to package masks for school distribution to help students cope with the “new normal.”
Scotiabank’s workers also led an employee donation drive for frontline charities which was matched by the bank.
Vaccinate to Operate
With the emergence of more dangerous variants of the Covid 19 virus, recurring shutdowns and more stringent measures, vaccine access and distribution are of increasing importance for Trinidad and Tobago.
The Government called for assistance from the private sector to ensure that each eligible citizen was given a choice to vaccinate. Scotiabank rose to that challenge, and not only encouraged its workers to become vaccinated, but also partnered with UNICEF in its vaccination drive throughout the Region.
Investing in the Future
While taking a leadership role in Trinidad and Tobago’s fight against the spread of Covid 19, under the SDG Goals, the Scotiabank TT Foundation continued to purposefully execute ongoing programmes in Youth Development and Education, Environmental and Food, Sustainability, Sustainable Cities and Communities, Climate Action, Life on Land, Life Below Water and Non-Pandemic Health issues such as Cancer Awareness, and of Good Health and Wellbeing.
No Student Left Behind
Access to technology remains a challenge, testing educational norms in extreme ways. During Covid-19, remote learning became the only option for many parents, already stressed by pandemic limitations in their economic status. In addition to its existing education initiatives, the Bank worked with various educational institutions and schools to provide computers, laptops, printers, and other electronic devices to ensure no child was left behind. So far, Scotia has assisted 1,160 students in adapting to new learning formats.
Additionally, since 2011, Scotiabank has collaborated with the local NGO, Families in Action (FIA), with the objective of equipping young adults between the ages of 16-19, with skills needed to transition to the world of work. Students are trained in areas such as goal setting, entrepreneurship, social responsibility, and financial management. Staff members also volunteer their time to mentor students.
Back to School
With vaccinations scheduled to be on target before the beginning of the new school year, students are gearing up to return to the physical classrooms. In anticipation of this, Scotiabank is currently assisting in the safe reopening by improving and expanding washroom facilities, constructing handwashing stations and in supplying masks.
University and Beyond
At the tertiary education level, for the past 12 years, Scotiabank regionally has funded 19 UWI scholarships yearly across all UWI campuses to qualified students who are unable to meet the financial costs of further education. Additionally, Scotiabank provides 10 scholarships annually to eligible candidates to the UWI St. Augustine Campus, for studies in Banking and Finance, Economics, Accounting, Computer Science, and Information Technology. The Bank is also the lead sponsor of the UWI Toronto Benefit Gala, which since inception, has raised over 2.3million CAD and produced over 600 scholarships to deserving students.
Support for the Written Word
Scotiabank’s commitment to Youth Empowerment extends to the Bocas Lit Fest. The Write Away! Young Adult Literature Project is designed to encourage students and educators to remain engaged through online learning, while providing access to dynamic and culturally relevant books across genres, to foster a lifelong passion for reading.
Participating schools are given access to virtual creative writing workshops, receive guided writing support from renowned authors and are provided with books for their school’s library to facilitate book clubs. The best writing from students are expected to be published in an e-book sponsored by Scotiabank, launching the next generation of writers-to-watch from Trinidad and Tobago.
Living Purposefully
Scotiabank’s donation to Caribbean Kids and Family Therapy Organisation (CKFTO) supported a 10-week therapy programme for children with disabilities. Recognizing the dire need to support NGOs that provide therapy for families with children with disabilities, Scotia ramped up its efforts to assist this vulnerable group, by providing a programme for children and caregivers to assist with learning and improving motor skills over the long-term.
Environmental Stewardship
Scotiabank believes that sustainability is key to the planet’s integrity and is committed to supporting initiatives which influence diversification, food security and sustainable development.
Home Gardens & Wildlife
10,000 households in Southern Trinidad and numerous children’s and special needs homes across the country have established kitchen gardens and grow boxes as a result of a seedling distribution initiative supported by the Scotiabank Foundation. A further 2,000 families in San Fernando and environs are also benefitting from a youth focused, community initiative through Scotiabank’s collaboration with Key of David International (KODI). In encouraging young persons to develop an interest in the agriculture sector as a viable means for providing for themselves and their communities, a vertical hydroponics system was installed, which not only provides these families with green produce, but also equips young people with knowledge of hydroponic farming.
Scotiabank has also partnered with conservation group Nature Seekers to provide active support of its Climate Change Adaptation Project for Species Recovery (CCAPS Recovery). The Bank’s support will augment the group’s efforts to sustainably manage and remove the influx of sargassum, which has been preventing nesting in affected beaches, through the purchase of an all terrain vehicle for the removal of debris and other solid matter that restricts successful nesting.
Hope for a Cure
Cancer Screening and Awareness
For 22 years, the Scotiabank Women against Breast Cancer Programme has brought thousands of people together. In the last 5 years alone, through its signature event – the annual 5k, the Bank has donated $1.25m towards breast cancer screening initiatives and to date, over 20,000 women have accessed free screening courtesy Scotiabank. Despite the pandemic, Scotiabank remains steadfast in its commitment, uniting people in awareness, education and screening. It’s signature event - the annual 5k adopted a virtual format in 2020 and for 2021, even more innovative techniques are being embraced to continue to spread the message of the importance of early detection and screening.
Scotiabank recognises that governments alone cannot effectively assist the most vulnerable among us and stronger public/private sector partnerships remain critical in this regard and Scotia provides an excellent model for such collaboration. Scotiabank has mainstreamed sustainability and declares, “We are guided by our purpose: for every future. A better tomorrow - where our customers, employees and communities all thrive - benefits everyone, including our Bank. Our approach to managing environmental, social and governance (ESG) issues, focuses on areas where Scotiabank can make the strongest impact - enabling stakeholders to reach their fullest potential, mobilizing finances to address important ESG challenges and building trust with integrity in everything we do.”
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