New Limited Partnership investments in climate tech and energy transition funds
TORONTO, Dec. 20, 2021 /CNW/ - CIBC today announced a new $100 million commitment in Limited Partnership (LP) investments dedicated to investing in key climate tech and energy transition funds.
Advancing its contribution to enable a more sustainable future, CIBC will make new LP investments in low carbon and climate tech funds, driving the development of new climate innovations.
"With new and intensifying environmental challenges, we believe our bank has an important role to play in supporting the acceleration of climate action through innovation across North America," said Harry Culham, Group Head, CIBC Capital Markets. "These investments are another way we're driving growth into new areas of the economy while helping to foster long-term sustainability."
CIBC has deep experience sourcing attractive LP relationships through its Leveraged Finance, Private Capital and Innovation Banking teams. Building on its Energy Transition and Sustainable Finance expertise, and strong history of taking action across environmental, social and governance (ESG) priorities, CIBC is helping to enable a more secure, equitable and sustainable future.
This $100 million LP investment is in addition to CIBC's $450 million for funds focused on the venture capital and growth equity sectors.
CIBC is a leading North American financial institution with 11 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/ca/media-centre.