TORONTO, Oct. 8 /CNW/ - CIBC (CM: TSX;NYSE) is pleased to be selected for the third year in a row as a 2009 Climate Disclosure Leader by the Conference Board of Canada and the Carbon Disclosure Project (CDP). Ten companies in high-carbon impact sectors and five companies in low-carbon impact sectors have been recognized as Climate Disclosure Leaders based on their responses to the annual CDP questionnaire, which was sent to the largest 200 companies by market capitalization on the Toronto Stock Exchange. CIBC is one of the five low-carbon impact sector companies of the 15 Climate Disclosure Leaders.
The CDP represents some 475 global institutional investors, with more than US $55 trillion in assets under management. As an independent not-for-profit organization, CDP collects key climate change data from some 2,500 major corporations around the globe(1).
"CIBC is committed to environmental responsibility in its business activities" said Robert Hughes, CIBC's vice-president responsible for environmental risk management. "Being selected for the third consecutive year as a Climate Disclosure Leader shows CIBC's 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.