CIBC's Sustainability Report demonstrates how the bank is working alongside stakeholders to create positive change and enable a more sustainable future for its clients, employees, communities and the planet. The report includes the Public Accountability Statement for CIBC and its applicable subsidiaries.
"Sustainability lies at the heart of our purpose, and as a bank, we play a unique and vital role in enabling a more secure, equitable and sustainable future, a responsibility we act on every day across our team," said Victor
"We will remain responsive to our stakeholders as we deliver on our strategy, further embedding ESG into all facets of our bank," said Kikelomo Lawal, CIBC Executive Vice-President, Chief Legal Officer and Chair of the
The 2022 Sustainability Report highlights examples of CIBC's ambitions in action through collaboration with stakeholders to drive change and maximize impact.
Accelerating climate action – we support solutions to address climate change and help transition to a more sustainable, low carbon future.
- 22% reduction in absolute greenhouse gas emissions (Scope 1 & 2) from operations in
Canada and theU.S. since 2018.(1) On track to reach our target of a 30% reduction by 2028. $112.9 billion in mobilization of sustainable financing over the past four years towards our 13-year goal – 37.6% of our mobilization goal. On track to reach our goal of$300 billion (2018-2030).(2)- #6 in
North America for renewable energy financings.(3)
Creating access to opportunities - we partner to build equitable and resilient communities where ambitions are more attainable for all.
- 38% women and 24% people of colour in Board-approved executive roles (globally).(4)
- Launched the Black Entrepreneur Program aimed at helping entrepreneurs from the Black community start, run and grow their business.
- Continued progress in stewarding the bank's Reconciliation Framework.
- Established a new partnership with the
First Nations Major Projects Coalition (FNMPC) to help advance sustainable business opportunities for First Nations inCanada . As a Sustaining Partner, CIBC shares FNMPC's vision for building prosperity for Indigenous peoples inCanada while mobilizing towards a low carbon world and a more sustainable and inclusive economy. - Opened a Legacy Space at CIBC's headquarters, dedicated to the importance of economic reconciliation in promoting Indigenous prosperity.
$368 million invested in corporate giving, community sponsorships and employee giving and fundraising (Team CIBC) globally over the past four years, exceeding our target of$350 million (2019-2023).(5)
Building integrity and trust - we act with integrity and transparency to maintain the trust that you have placed in us.
- Achieved strong results in our 2022 Client Experience Index through enhanced digital capabilities, valued advice, and consistent service delivery.(6)
- Scored 2nd in the 2022 J.D. Power Retail Banking Satisfaction study, our highest ranking since 2018.
- Partnered with
MX Technologies Inc. to enhance secure data sharing with third-party fintech applications to ensure a secure and seamless experience for our clients.
CIBC's Sustainability Report has been prepared with reference to the
For more details, please read CIBC's 2022 Sustainability Report and accompanying ESG Data Tables detailing the bank's seven-year performance trends.
(1) Reduction in absolute GHG emissions (Scope 1 & 2) versus the baseline year of 2018. 2022 data is as of (2) Sustainable financing largely relates to client activities that support, but are not limited to, renewable and emission-free energy, energy efficiency, sustainable infrastructure, sustainable real estate, affordable housing and basic infrastructure, and products such as, sustainability-linked and green financial products. The services offered by CIBC included in our mobilization commitment to support these client activities include loans and loan syndications, debt and equity underwritings, M&A advisory and principal investments. In 2022, our methodology was updated prospectively to include transactions relating to the affordable housing sector. The affordable housing sector includes loans and investments that meet our obligations under the (3) Source: (4) Board-approved executive roles include Vice-Presidents and above appointed to their role as of (5) Includes corporate giving, including (6) The Client Experience Index is an enterprise-wide dashboard comprised of 20 internal and external client experience metrics. Excludes CIBC FirstCaribbean, |
From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including in this press release, in other filings with Canadian securities regulators or the
CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.
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