As of 2021, it has awarded approximately $4 million Canadian dollars to more than 40 institutions and non-profit organizations.
Scotiabank announced the 10 winners of its global Net-Zero Research Fund 2024 program. The awarded funds, worth approximately $1 million Canadian dollars, were allocated to organizations in Canada, Peru, Colombia and Mexico that conduct research and initiatives that related to decarbonisation and the transition. to a net zero emissions economy.
“This is the fourth year that Scotiabank has awarded funding through our Net-Zero Research Fund and we are excited to see such high quality proposals. We congratulate this year’s recipients, who once again raised the bar with their innovative ideas and research on public policy, science and technology to advance the transition to a low-emissions economy,” said Meigan Terry, SVP and Scotiabank CEO Sustainability, Social Impact and Communications.
In many cities in Peru and Latin America, wastewater treatment is facing challenges due to population growth and infrastructure limitations. Inaction could create potential health problems for communities and ecosystems. In this context, Scotiabank has chosen the University of Engineering and Technology (UTEC Peru) for its initiative that aims to design an open cultivation system that acts as an extension of the Wastewater Treatment Plant (WWTP) in the high Andean region of Arequipa. This system will use microalgae to assimilate organic matter and salts in waste water, returning less contaminated water resources to the environment.
“This recognition given by Scotiabank shows the relevance of investment in research that seeks innovative solutions to address environmental challenges. Our microalgae cultivation project represents progress towards bioremediation technologies that improve water quality and generate biomass with agro-ecological applications. This effort reaffirms our commitment to actively contribute to the sustainable development of the country and the well-being of our community,” said Mónica Santa-María Fuster, Director of UTEC Research.
Through its Net-Zero Research Fund program, Scotiabank aims to distribute $10 million Canadian dollars in grants to organizations conducting research and initiatives leading initiatives related to the transition to a low-carbon economy. As of 2021, it has awarded approximately $4 million Canadian dollars to more than 40 institutions and non-profit organizations.