CIBC named one of Canada's Greenest Employers for third consecutive year

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.

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

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