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NorthX, Scotiabank Partner to Support Women in Climate Tech

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NorthX Climate Tech and Scotiabank, through Roynat Capital, have announced a new partnership to accelerate opportunities for women entrepreneurs advancing climate hard tech. The collaboration is supported by the Scotiabank Women Initiative and builds on NorthX’s mandate to fund scalable decarbonization technologies.

NorthX CEO Sarah Goodman said the effort unites innovators with financial experts to expand growth opportunities. Earlier this year, NorthX committed $2.46 million to five women-led climate tech ventures. Scotiabank executive David Rozin said the agreement reflects a commitment to diversity in Canada’s climate economy, ensuring women innovators help drive sustainable growth and climate resilience.

Want to know more? Check out the source code on CleanEnergy.ca.

Bank of Nova Scotia to Trim 2,700 Jobs Globally Amidst Operational Shifts

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The Bank of Nova Scotia is set to trim its global workforce by about three percent, equating to approximately 2,700 jobs, in response to operational shifts and changing customer preferences. This decision stems from an ongoing initiative to streamline operations.

The restructuring move will lead to a $590 million hit to earnings in the fourth quarter, encompassing a restructuring charge, severance provisions, and a writedown on an investment in a Chinese bank.

Royal Bank of Canada analyst, Darko Mihelic, views these measures as part of Scotiabank’s strategic realignment, not raising concerns about capital impact.

Want to know more? Check out the source code on Financialpost.com.