TORONTO, March 8, 2021 /CNW/ - CIBC (TSX: CM) NYSE: CM) has been named the leading company in Canada for gender equality and ranked 19th globally in Equileap's fourth annual Gender Equality Global Report & Ranking.
Equileap, a leading provider of gender equality data and insights, presents the 100 companies which score the highest globally, on specific issues ranging from equal pay and gender representation at all levels of a company to paid parental leave and anti-sexual harassment policies. Equileap's research examined close to 4,000 companies on gender equality measures across 23 markets based on 19 in-depth criteria globally.
"This recognition underscores our progress in making inclusion a cornerstone of our bank's culture and advancing gender-balanced leadership," said Sandy Sharman, Group Head of People, Culture and Brand at CIBC. "We are committed to supporting and implementing measures that advance gender equality which is driving our business success and helping us make our clients' ambitions a reality."
CIBC is committed to ensuring gender-balance across its workforce including senior management, executive and board levels. This is supported through talent goals accompanied by tracking and reporting on gender; a gender-neutral compensation structure; and organizational policies on parental leave, sexual harassment and flexible work.
Currently, women make up 40 per cent of CIBC's executive committee members and 40 per cent of CIBC's board. On the election of director nominees at CIBC's annual meeting on April 8, 2021, CIBC's board will be 50 per cent women, with Katharine Stevenson as Chair of the Board.
In addition to advancing gender balance internally, CIBC has made several public commitments toward building a more equitable and sustainable society, supports external organizations that invest in women and provides solutions tailored to women clients which are highlighted below.
- CIBC is a signatory of the United Nations Women's Empowerment Principles, UK Women in Finance Charter, the Catalyst Accord, 30% Club Canada Investor Statement of Intent and the United Nations-supported Principles for Responsible Investment (PRI). CIBC is also member of the Canadian Coalition for Good Governance, Canadian Bond Investors Association, and Responsible Investment Association (RIA).
- CIBC Asset Management is also a founding signatory of the Responsible Investment Association's Canadian Investment Statement on Diversity and Inclusion, furthering its public commitments to integrate inclusion into investment processes and disclose work underway to remove barriers for team members.
Commitment to community organizations:
- CIBC partners with organizations supporting the unique needs of women, including:
- Prosperity Project, a not-for-profit organization founded to mitigate the impact of the COVID-19 pandemic on Canadian women who are being disproportionately affected;
- StandUp Ventures, a seed stage firm investing in women-led companies;
- Founding contributor of the Canadian Council for Aboriginal Business' Indigenous Women Entrepreneurship Fund.
- CIBC sponsors and donates to several organizations that support the advancement of women, including: Women in Capital Markets, Catalyst, Hackergal, and the Jean Augustine Centre for Young Women's Empowerment.
- CIBC recently celebrated its 25th anniversary supporting the Canadian Women's Foundation. Support this year is focused on helping women with disabilities move themselves out of poverty, with programs that provide skills development, mentorship and employment training.
Commitment to clients:
- CIBC offers tailored advice and tools to help women achieve their ambitions and provides training to all client-facing team members to help them identify and disrupt unconscious bias.
- As part of International Women's Day 2021, CIBC is hosting a live webinar (in English and French) to help women with their financial well-being during these uncertain times and into the future.
- In 2018, CIBC announced Canada's first social bond framework focused on corporations with a demonstrated commitment to women in leadership roles for institutional investors.
In addition to the Equileap ranking, CIBC was also recently named to the Bloomberg Gender-Equality Index for the sixth consecutive year and recognized as one of Canada's Best Diversity Employers for the 11th year in a row.
More on CIBC's commitment to gender-balanced leadership can be found in the most recent Sustainability Report.
CIBC is a leading North American financial institution with 10 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 with offices 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.