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Selection as 2008 Climate Disclosure Leader endorses CIBC's record on the environment
CIBC is one of five low-carbon impact companies in the 15 top-scoring companies in Conference Board of Canada's 2008 Climate Disclosure Leader rankingsTORONTO, Nov. 6 /CNW/ - CIBC (CM: TSX;NYSE) is pleased to be selected for the second year in a row as a 2008 Climate Disclosure Leader by the Conference Board of Canada and the Carbon Disclosure Project (CDP). In the Climate Disclosure Leader ranking exercise, fifteen top-scoring companies were identified by a panel of judges composed of representatives from the CDP Canada Advisory Group on the basis of the companies' superior levels of transparency. CIBC is one of only five low-carbon impact sector companies in the 15 company leadership group out of the 200 most valuable companies by market capitalization listed on the Toronto Stock Exchange. The CDP is an independent not-for-profit organization which acts as an intermediary between shareholders and corporations on all climate change related issues, providing primary climate change data from the world's largest corporations, to the global market place. The data is obtained from responses to CDP's annual Information Request, sent on behalf of institutional investors and purchasing organizations(1) - 385 institutions with over $57 trillion in assets under management. "CIBC is committed to being an environmentally responsible organization, as outlined in our Corporate Environmental Policy," said Robert Hughes, CIBC's vice-president responsible for environmental risk management. "We are honoured to be selected once again as a Climate Disclosure Leader. It shows that CIBC continues to show leadership in the disclosure of information deemed important by investors". CIBC began examining climate change issues back in 2002. These efforts have evolved into an on-going carbon risk management program that is designed to assess and manage the impacts - both positive and negative - of climate change and climate change-driven regulations on our business operations and those of our clients. CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.------------------- (1) www.cdproject.net
For further information:
For further information: Doug Maybee, Director, External Communications and Media Relations, CIBC, Tel: (416) 980-7458, doug.maybee@cibc.com