TORONTO, April 16,
2024 /CNW/ - CIBC has proudly been recognized as
one of Canada's Greenest
Employers for 2024, marking the third consecutive year the bank
has received this award from MediaCorp Canada. This recognition
underscores CIBC's commitment to environmental stewardship and its
efforts to create a culture of sustainability within the bank and
broader community.
"We are honoured to be named as one of Canada's Greenest Employers," said
Kikelomo Lawal, Executive
Vice-President, Chief Legal Officer and Chair of the Senior
Executive ESG Council, CIBC. "Sustainability is a core pillar of
our purpose-driven commitment to ESG and we remain focused on
furthering sustainable initiatives across our bank to contribute to
a more inclusive and prosperous future for our clients, team
members, and communities where we live and work."
The Canada's Greenest
Employers award evaluates an organization based on the unique
environmental initiatives and programs they have developed, the
extent to which they have been successful in reducing their
organizational environmental footprint, the degree to which their
employees are involved in these programs, and whether these
initiatives have attracted new employees to the
organization.
CIBC's key investments towards sustainability in 2023
include:
- Achieved a 26.3% cumulative reduction in absolute greenhouse
gas emissions (Scope 1 and 2) from our operations in Canada and the U.S. since
2018(1) and we are on track to reach our goal of
30% reduction by 2028.
- Became Platinum Certified for Leadership in Energy and
Environmental Design (LEED), the highest level of achievement under
the LEED building rating system, for our workplace at CIBC SQUARE,
our global headquarters.
- Announced a 2030 interim net-zero target for our automotive
manufacturing portfolio and demonstrated continued progress towards
our 2030 interim net-zero targets for our oil and gas and power
generation portfolios.
CIBC's sustainability partnership commitments
include:
- One of the first banks in Canada to join the RMI Centre for Climate
Aligned Finance.
- Member of the Partnership for Carbon Accounting Financials
(PCAF), an initiative led by the financial industry to develop a
harmonized global standard to measure and disclose greenhouse gas
emissions on loans and investments.
- Collaborating with Export Development Canada (EDC) to expand
sustainable finance solutions for Canadian
businesses.
For more information about CIBC's commitment to sustainability,
visit our website.
(1) Reduction in
absolute GHG emissions (location-based Scope 1 and 2) versus the
baseline year of 2018. 2023 data is as of August 1, 2022 – July 31,
2023.
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About CIBC
CIBC is a leading North American financial institution with 14
million personal banking, business, public sector and institutional
clients. Across Personal and Business Banking, Commercial Banking
and Wealth Management, and Capital Markets and Direct Financial
Services businesses, CIBC offers a full range of advice, solutions
and services through its leading digital banking network, and
locations across Canada, in the United States and around the world.
Ongoing news releases and more information about CIBC can be found
at www.cibc.com/ca/media-centre.
SOURCE Canadian Imperial Bank of Commerce