TORONTO, April 20, 2022 /CNW/ - CIBC has been named one of Canada's Greenest Employers for 2022 by MediaCorp Canada for its commitment to creating a culture of environmental awareness within the organization.
"We are honoured to receive this recognition," said Kikelomo Lawal, CIBC Executive Vice-President, Chief Legal Officer and Chair of the Senior Executive ESG Council. "Sustainability is at the heart of our purpose at CIBC, and we are committed to making positive environmental changes for our team, clients, communities and our planet to create a more secure and equitable future for everyone."
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.
"This award recognizes CIBC's long-term commitment to accelerating climate action and our progress towards reducing our organizational carbon footprint. As a financial institution and a large employer of choice, we play an important role in championing sustainability in the communities where we live and work," added Ms. Lawal.
CIBC's key investments towards sustainability include:
- Commitment to achieve net-zero greenhouse gas emissions associated with operational and financing activities by 2050, and collaboration with carbon-intensive sectors for a successful transition.
- Launching Carbonplace, a new technology platform for the voluntary carbon market, helping companies meet net-zero ambitions.
- Implementing the Sustainability Issuance Framework to help mobilize capital and develop market-based solutions to support investments that shape a more sustainable economy.
- Introducing Sustainable Investment Solutions focused on responsible investing, with a portion of revenues donated to organizations supporting climate transition activities.
- $34.9 billion in mobilization of sustainable financing in 2021 – and doubling our sustainable finance mobilization target to $300 billion by 20301.
- Committing $100 million in Limited Partnership (LP) investments dedicated to investing in key climate tech and energy transition funds.
CIBC's sustainability partnership commitments include:
- One of the first Canadian banks to join the RMI Center 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.
Other industry recognitions include:
- Top 10 ranking in financing for the renewable energy industry across North America2.
- Ranked A- among the top-tier of global banks for climate actions by CDP.
- Named to the Dow Jones Sustainability Index - North America for 17th consecutive year.
For more information about CIBC's commitment to sustainability, visit our website.
|
1
|
Sustainable financing largely relates to client activities that support, but are not limited to, renewable and emission-free energy, energy efficiency, sustainable infrastructure, green buildings, sustainability-linked financings and green financial products. The products 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.
|
|
|
|
2
|
North American Renewables League Tables by Inframation for transactions closed from January 1, 2021 to September 30, 2021.
|
About CIBC
CIBC is a leading Canadian-based global financial institution with 11 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, 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.
SOURCE CIBC
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2022/20/c7599.html