New initiative with The Walrus to support Black digitally-focused journalists announced as part of commitment
TORONTO, March 7, 2022 /CNW/ - CIBC announced today that the CIBC Foundation is now accepting applications for funding from charitable organizations. Aimed at removing limits to ambition and creating greater access to opportunities, the CIBC Foundation will place an emphasis on applications from organizations that increase access to education and employment outcomes for underserved communities, with a specific focus on reskilling, upskilling, and addressing the digital divide.
The CIBC Foundation will assess each organization's request based on its alignment to these focus areas, and their plan to make a meaningful impact in the communities they serve through the creation of social and economic opportunities.
"Through the CIBC Foundation we are demonstrating our purpose in action by supporting causes important to our clients and communities," said Harry Culham, Group Head, Capital Markets, CIBC, and Co-Chair, CIBC Foundation. "We are excited by this new chapter and look forward to helping realize the purposeful objectives of organizations who share our collective ambition to increase access to education and employment outcomes across the country."
Launched in November, the CIBC Foundation is built on the bank's storied history of supporting its communities and demonstrates its commitment to helping create a world without limits to ambition. In 2021, CIBC made donations totalling $70 million towards the foundation, with plans to grow to $155 million over time to further contribute to social impact initiatives as part of its broader ESG commitments.
As part of this commitment, the CIBC Foundation is also announcing today a new one-year Digital Fellowship for Emerging Black Journalists through The Walrus, one of Canada's leading not-for-profit media organizations. The initiative involves the creation of a new digitally-focused position at The Walrus for an early-career Black journalist, who will be trained by their talented team on the skills and tools required to conceptualize, develop, and produce storytelling in a variety of digital media.
"We are thrilled to partner with the CIBC Foundation to launch this new fellowship," said Jennifer Hollett, Executive Director of The Walrus. "This is the second program established by The Walrus in support of rising Black journalists in Canada. This fellowship is another step towards building a more inclusive media landscape in the country. We are excited to announce the call for applications, and soon welcome a new Digital Fellow to The Walrus team."
"Supporting communities has been an integral part of our bank's genuinely caring culture for the past 155 years and counting, and this is the next phase in that ongoing commitment," said Sandy Sharman, Group Head, People, Culture and Brand, CIBC, and Co-Chair, CIBC Foundation. "As we progress towards our goal of collectively advancing social and economic equity for underserved communities, we're proud to be supporting The Walrus and the next generation of Black journalists through this unique fellowship program."
Other recent commitments the bank has made through the CIBC Foundation include the new Black Entrepreneur Program (BEP) announced this January, in partnership with the Black Opportunity Fund (BOF). As part of this commitment, the CIBC Foundation donated $2 million to the BOF to provide non-repayable loans to Black entrepreneurs in various stages of their business planning to help build their knowledge and capacity, and succeed.
The CIBC Foundation builds on the bank's existing efforts to support cancer initiatives, invest in financial education, and raise funds for children aged 13 and under through CIBC Miracle Day.
Aligned with its ESG strategy and commitments, CIBC is working to build equitable and resilient communities with a goal to create more opportunities for underserved and underrepresented groups through partnerships, employee activities and its own leadership and actions.
CIBC is a leading North American financial institution with 11 million personal banking, business, public sector and institutional clients. Through corporate donations, community partnerships and the genuinely caring culture of Team CIBC, we are committed to helping people and our communities make their ambitions a reality. Learn more about our community impact. Ongoing news releases and more information about CIBC can be found at https://www.cibc.com/en/about-cibc/media-centre.html.
About The Walrus
The Walrus provokes new thinking and sparks conversation on matters vital to Canadians. As a registered charity, we publish independent, fact-based journalism in The Walrus and at thewalrus.ca; we produce national, ideas-focused events, including our flagship series The Walrus Talks; and we train emerging professionals in publishing and nonprofit management. The Walrus is invested in the idea that a healthy society relies on informed citizens.