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CIBC Progressed Toward ESG Targets in 2021

By Adriano Marchese

 

Canadian Imperial Bank of Commerce on Monday said that it has made progress toward its sustainability goals in 2021, including carbon emissions reductions and creating more opportunities for women and visible minorities among its executive ranks.

Among its highlights, the Canadian bank said it has reduced the company's absolute scope 1 and 2 greenhouse gas emissions by 20% since 2018, and mobilized sustainable financing worth 34.9 billion Canadian dollars, the equivalent of US$27.38 billion.

It said it has also doubled its target for sustainable finance mobilization to C$300 billion by 2030.

CIBC also said that it continues to create access to opportunities, and in the year, 38% of board-approved executive roles were held by women while 23% were visible minorities in Canada.

"We know that to further strengthen our focus and accelerate progress in an era where sustainable development has renewed urgency, we need to enhance structures, strategies and processes at CIBC," said Kikelomo Lawal, executive vice-president, chief legal officer and chairwoman of the senior executive ESG Council.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

March 14, 2022 09:40 ET (13:40 GMT)

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