NASSAU, BAHAMAS — Scotiabank is now accepting grant submissions for the Net-Zero Research Fund. Organizations 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 Net-Zero Research Fund was established in 2021 as part of the bank’s climate commitment to initiate partnerships with leading think tanks and academic institutions and support research to advance global decarbonization. The bank has committed CAD $10 million in funding.
“Scotiabank recognizes the critical effects of climate change and the unique vulnerabilities of small island states especially. We, therefore, have a deep-seated commitment to playing an integral part in environmental preservation. The net-zero initiative signals our dedication to safeguarding the environment and ensuring our nation’s resilience and fortifying against future environmental challenges for generations to come,” Roger Archer, Managing Director, Scotiabank Bahamas said.
He urged eligible stakeholders to “seize the opportunity for grant funding to spearhead research efforts to combat climate. “Archer shared that Scotiabank is pleased to be able to contribute to the fight against climate change by supporting innovation within relevant organizations with the aim of advancing the critical shift towards a net-zero future.
He noted that in commemoration of Earth Day, the bank provided 1000 seedlings to promote reforestation in The Bahamas, in keeping with its tree-planting exercises in schools in collaboration with the Bahamas Agriculture and Marine Science Institute in recent years.
Since 2021, Scotiabank’s Net-Zero Research Fund has distributed CAD$3 million to more than 30 registered charities and non-profit organizations 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, and increasing demand for lower or zero-carbon technologies
Scotiabank’s grants in 2024 will range from CAD $25,000 to CAD $100,000. Organizations must be registered charities and non-profit organizations to be eligible for the Scotiabank Net-Zero Research Fund.
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