Environmental, Social, and Governance

Our Commitment

We are proud of the critical role we play in the lives of Canadians as Canada’s Challenger BankTM. We take our responsibility to our customers, shareholders, employees, business partners and community partners seriously, and understand that meeting our obligations, objectives and commitments requires good governance, inspired leadership and an empowered culture.

How this looks in practice

In 2021, we became the first Canadian Schedule I Bank to disclose our entire Scope 1, 2 and 3 greenhouse gas emissions, including financed emissions. We believe at our core that what gets measured gets managed, and we are committed to building out our disclosures and emissions reductions plans to achieve the most abundant future possible for all Canadians.

ESG at a glance
  • 610,999 tCO2e
    • Scope 1, 2 and 3 greenhouse gas emissions in 2021
  • 290,000+
    • We offer Canadians the chance to get more out of everyday dollars by earning high interest and not paying fees for everyday banking
  • 50%
    • Percentage of employees who self-identify as a member of a visible minority group/racialized person
  • 44%
    • Percentage of independent members of our Board of Directors that are women
Our Commitment

We are proud of the critical role we play in the lives of Canadians as Canada’s Challenger BankTM. We take our responsibility to our customers, shareholders, employees, business partners and community partners seriously, and understand that meeting our obligations, objectives and commitments requires good governance, inspired leadership and an empowered culture.

How this looks in practice

In 2021, we became the first Canadian Schedule I Bank to disclose our entire Scope 1, 2 and 3 greenhouse gas emissions, including financed emissions. We believe at our core that what gets measured gets managed, and we are committed to building out our disclosures and emissions reductions plans to achieve the most abundant future possible for all Canadians.

A low carbon footprint is innately embedded in our digital, paperless business and branchless operating model. We are the only Schedule I Bank that operates entirely without a physical retail presence and the only bank in Canada to host its digital core banking system in the cloud. These important characteristics give us the advantage of scalability, reduced costs in the long run, enhanced security and agility to bring new products and services to market quickly. We invest in the energy efficiency of our operations, product development and integration of fintech and emerging technologies.

We are considering how we embed climate impact in our financing decisions, how we can constructively incent lower carbon emissions for our customers, and how we can contribute to a net zero transition for Canada and the world.

Reports

2018

2018 Public Accountability Statement
ESG Ratings

The ESG landscape in Canada and around the world is constantly changing and evolving. There exist several rating agencies that look to organize and consolidate material ESG metrics into comparable scores. While there is room for consolidation in this industry, we continue to stay in contact with several ESG rating agencies through surveys, feedback reports and informational events. We work closely with and are scored by the following rating agencies and more.

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S&P CSA
In November 2022, EQB ranked in the 79th percentile in the Banks industry in the S&P Global Corporate Sustainability Assessment, meaning 79% of companies reached an equal or lower score.
 

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