Scotiabank’s net-zero research fund announces 2024 call for submissions

Kingston, Jamaica – May 9, 2024 –Scotiabank is currently accepting grant submissions for its Net-Zero Research Fund, which supports the efforts of registered charities and non-profit organisations leading decarbonization initiatives in countries across the bank’s geographic footprint.

Organisations developing innovative research and opportunities to decarbonize key sectors and support the shift to a low-carbon economy have until May 28, 2024, to submit a submission for funding. The 2024 grants will range from CAD $25,000 to CAD $100,000 per entity.

Audrey Tugwell Henry, President and CEO, Scotia Group Jamaica, said the Bank is keen on making an impact in environmental preservation for future generations. “With a vested interest in small island states across the Caribbean region, Scotiabank understands the urgency of action in matters of environmental preservation. Our net-zero initiative underscores our attention and commitment to actions that will strengthen the response to climate change and determine our resilience and ability to withstand environmental threats that may affect future generations,” she stated.

“We encourage local stakeholders to take advantage of the funding available and advance their research to address the serious issue of climate change. We are proud to play a part as a responsible corporate citizen in advancing the innovative and necessary ideas that will assist in the critical transition to a net-zero future," she added.

Since 2021, Scotiabank's Net-Zero Research Fund has distributed CAD$3 million to more than 30 registered charities and non-profit organisations conducting climate and decarbonization research.

Some projects that have received grants from the fund include:

  • Expanding carbon sequestration
  • Developing improvements to greenhouse gas emissions measurements
  • Identifying policy and regulatory changes to enable rapid decarbonization
  • Increasing demand for lower or zero-carbon technologies

As for its own carbon-cutting initiatives, in 2023 Bank launched its green energy loan product for retail and business customers aimed at encouraging and enabling Jamaicans to implement greener solutions for household and commercial energy needs and transportation. The bank has also supported the national reforestation efforts through various seedling distributions and tree planting exercises.

To mark Earth Day 2024, in partnership with the Grace Kennedy Foundation and the Great Mangrove Cleanup, employee volunteers also worked to clear trash from Sigarney Beach in Kingston on April 27.

For more information on eligibility and how to apply, interested persons can visit Scotiabank’s Climate Change Centre of Excellence at https://www.scotiabank.com/ca/en/about/responsibility-impact/climate-commitments/climate-change-centre-of-excellence/net-zero.html.

Organisations must be registered charities and non-profit organisations to be eligible for the Scotiabank Net-Zero Research Fund.