Bank recognized for its commitment to a more secure, equitable and sustainable future

TORONTO, Dec. 16, 2022 /CNW/ - CIBC (TSX: CM) (NYSE: CM) has been named to the Dow Jones Sustainability North America Index (DJSI) for the 18^th consecutive year, demonstrating its continued commitment to enabling a more sustainable and equitable future. The DJSI is a widely recognized industry standard for measuring companies' performance of environmental, social and governance (ESG) criteria.

CIBC is ranked in the 91^st percentile among banks globally, and was recognized for continued leadership in board diversity, tenure and experience, as well as in its environmental and social reporting and disclosure practices, among other areas.

"CIBC is proud to once again be recognized for taking meaningful action to support our shared ambitions for a more sustainable future," said Kikelomo Lawal, Executive Vice-President and Chief Legal Officer, CIBC. "Financial institutions play a critical role in the ESG ecosystem. By working together with our clients and all stakeholders, we're focused on driving change and maximizing our impact, both within our bank as well as with the clients and communities we serve."

In addition, CIBC's recent notable ESG initiatives include:

• Establishing 2030 targets for emissions reduction from its oil and gas and power generation portfolios.
• Achieving a top 10 ranking in financing for the renewable industry across North America.ⁱ
  
• Furthered our progress on Carbonplace, an international joint effort to create an innovative voluntary carbon credit technology platform, by expanding the network of banks from four to nine founding members and moving towards commercializing the platform, helping companies meet their net-zero ambitions.

CIBC's other industry recognitions include:

• Named to Bloomberg Gender-Equality Index for seven consecutive years.
• Ranked #1 in Canada for gender equality by Equileap for the second consecutive year.
• Named one of Canada's Best Diversity Employers for the 12th consecutive year.

More on CIBC's sustainability practices can be found in the 2021 Sustainability Report.
For more information on the Dow Jones Sustainability Index, click here.

CIBC is a leading North American financial institution with 13 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.

SOURCE CIBC