Bank recognized as a leader in environmental and social disclosure practices
TORONTO, Nov. 18, 2021 /CNW/ - CIBC (TSX: CM) (NYSE: CM) has been included in the Dow Jones Sustainability Index (DJSI) North America for the 17th consecutive year, as a result of its responsible and sustainable business practices, and transparency in disclosure. The DJSI measures the performance of companies based on economic, environmental and social criteria.
CIBC is ranked in the 90th percentile among banks globally, being recognized for continued gains in the social dimension category and in disclosure practices related to human rights and talent attraction.
"We are proud to see CIBC's endeavours in strengthening environmental, social and governance practices recognized," said Kikelomo Lawal, Executive Vice-President and Chief Legal Officer, CIBC. "Recognizing there is more to be done, we will continue to invest in a more sustainable future and work closely with our stakeholders to help them achieve their ambitions in this area. We recognize the critical role banks play in advancing the sustainability agenda, and we're committed to doing our part.
In addition, CIBC's measures towards a sustainable future include:
- Introducing a new Sustainability Issuance Framework to help support sustainable investments.
- Announcing its ambition to achieve net-zero greenhouse gas emissions by 2050.
- Significantly increasing its commitment to mobilizing sustainable finance to a target of $300 billion by 2030.
- Announced a partnership with global banks to launch Project Carbon, a voluntary carbon offset marketplace to bring efficiency, liquidity and global standards to the carbon offset ecosystem.
- Becoming the first Canadian bank to join the Center for Climate Aligned Finance.
- Launching new Sustainable Investment Solutions focused on responsible investing through CIBC Asset Management, with a portion of revenues from managing these solutions being donated to organizations supporting climate transition activities.
- Becoming a Member of the Partnership for Carbon Accounting Financials (PCAF), an initiative developed by the financial industry to create a global standard to measure and disclose greenhouse gas emissions on loans and investments.
CIBC's Other industry recognitions include:
- The Global Top 100 for Gender Equality
- Bloomberg Gender-Equality Index for our commitment to inclusion
- One of Canada's Best Diversity Employers
More on CIBC's sustainability practices can be found in the 2020 Sustainability Report.
For more information on the Dow Jones Sustainability Index, click here.
CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Small 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.