The Canadian Imperial Bank of Commerce (CIBC) recently received a top score from the Carbon Disclosure Project (CDP), recognizing continued improvements to transparency and reporting on environmental impact, and the bank’s continued focus on enhancing environmental sustainability. The B score ranks CIBC above the global financial services average in CDP’s most recent rankings.
“Our focus on creating a more sustainable future is reflected in our continued improvements in the areas of transparency and reporting, and our commitment as an organization to taking action on climate change,” said Josh Picov, senior vice president of Enterprise and Conduct Risk for CIBC. “We believe banks have a clear role to play in reducing their own environmental impact as well as helping to shape a more sustainable economy working with clients, and we have made clear progress in each of these areas as part of our long term focus on environmental sustainability.”
CIBC recently announced a target of $150 billion in environmental and sustainable financing by 2027, to mobilize the necessary capital and develop market-based solutions to support investments that address critical environmental challenges and sustainability.
CIBC, one of the “big five banks”, is a leading Canadian-based global financial institution with 10 million personal banking, business, public sector and institutional clients across Canada, in the United States and around the world.
The bank also recently released a report entitled “Building a Sustainable Future”, CIBC’s first climate-related disclosure report aligned with the Task Force on Climate-Related Financial Disclosures. The report highlights the bank’s governance, strategy and risk management approach to climate related issues. The report also provides specific metrics and targets for the bank to reduce our overall environmental impact and support clients in doing the same.
To read CIBC’s “Building a Sustainable Future” report click here.
To read the full CDP report, click here.