TORONTO, June 4, 2021 /CNW/ - From now until July 2nd Scotiabank's Net Zero Research Fund is accepting applications from think tanks and academic institutions that are supporting key sectors in their efforts to decarbonize the economy. Launched earlier this year, the $1 million fund is an initiative that will advance research and leadership in support of global decarbonization as part of the Bank's Climate Commitments.

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One of the first beneficiaries of the Scotiabank Net Zero Research Fund is The Transition Accelerator, a national climate change non-profit that works with groups across the country to solve business and social challenges while building viable transition pathways to a net-zero future. Scotiabank's two-year investment will support the development of Canada Grid, a collaborative initiative that will help ensure that electricity systems are ready to provide enough secure, non-emitting power in the net-zero future through the promotion of better planning, fairer benefit distribution and infrastructure buildout, as well as grid integration and optimization.

"With electrification set to be a core component of Canada's future clean energy system, it is vital that we think differently about how to plan for, produce, transmit and distribute clean electricity," says Dan Wicklum, CEO of The Transition Accelerator. "This grant from Scotiabank's Net Zero Research Fund will go a long way to build resilience, capacity and greater integration in our electricity grids, and position Canada for economic and environmental success in a net zero future."

Scotiabank's Net Zero Research Fund was designed with the objectives of the Paris Agreement in mind, to stimulate research, dialogue and understanding of the shift to a net zero emission global economy.

By identifying pathways and initiatives that require investment to accelerate adoption or scale of application, the Fund will also strengthen relationships between academic and non-profit research institutes and the corporate sector through collaboration and knowledge sharing.

Scotiabank grants will range from CAD $25,000 to CAD $100,000. Any funds not granted through the initial application cycle will be awarded through a second call for proposals in 2022.

To be eligible for the Scotiabank Net Zero Research Fund, partner organizations must be not-for-profit organizations in their jurisdiction. 

For more information on submission eligibility and how to apply, please visit https://www.scotiabank.com/ca/en/about/responsibility-impact/climate-commitments/climate-change-centre-of-excellence.html.

About Scotiabank

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 90,000 employees and assets of approximately $1.1 trillion (as at April 30, 2021), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank

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