THE BANK OF NOVA SCOTIA | Adopt Societal Dividend and Better Value Sharing Practices at THE BANK OF NOVA SCOTIA

Status
Withdrawn
AGM date
Previous AGM date
Resolution details
Company ticker
BNS
Resolution ask
Adopt or amend a policy
ESG theme
  • Environment
  • Social
ESG sub-theme
  • Corporate purpose
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
Canada
Resolved clause
RESOLVED: that the board of directors contemplate the creation of a societal contribution whereby a certain percentage of the corporation’s profits would be devoted to supporting ESG causes, in particular the environment and inequality.
Supporting statement
SUPPORTING STAEMENT: Given the scale of the climate crisis and the growing inequality, we are proposing the creation of a new kind of dividend aimed at expanding the sharing of the value created by the organization into projects with high social and environmental added value. Taking Crédit Mutuel (France) and MAIF (Mutuelle d’assurance pour les instituteurs de France)15 as an example, the amounts thus released could be devoted to ecological, climatic and social transition. For example, these amounts could be used to take stakes in companies whose objective is not necessarily immediate profitability, but which have a positive impact on the environment and inclusion, such as investments in energy renovation or the creation of bicycle garages in towns and cities, in support for customers and future customers who are most exposed to climatic events and most economically vulnerable, in the granting of zero-interest loans for energy renovation to customers on modest incomes, and so on.

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