Climate Change Data

Environmental Metrics

ESG Focus Areas

• Client relationships
• Affordable and accessible banking
• Privacy
• Diversity and inclusion
• Support for Aboriginal communities
• Small and medium-sized businesses
• Youth
• Environmental sustainability

Environmental Achievements

• Offered CIBC Enviro-Saver Rebate to eligible mortgage clients purchasing energy-efficient homes or making energy-saving improvements (resulting in a 10% savings on CMHC Mortgage insurance premium).

Social Achievements

• Invested over $900,000 in national and local programs supporting the Aboriginal community.
• Ranked 2nd among Canadian banks in serving Chinese, South Asian, and Italian communities (Solutions Research Group Consultants Inc. report).
• PCF Personal Banking Representatives conducted 118 free seminars for over 2,000 new homebuyers.
• Extended 24/7 automated telephone banking to Cantonese and Mandarin-speaking clients.
• Offered banking services through seven on-reserve branches and an on-reserve agency branch for Aboriginal clients.
• Introduced a Personal Financial Planning program in several Aboriginal communities.
• Improved branch accessibility for visually and hearing impaired clients, the elderly, and persons with restricted mobility.
• Offered 49 mutual funds meeting sustainable performance criteria set by the Social Investment Organization.
• Supported small businesses by allowing business account openings in all branches and offering remote credit applications.
• Invested in youth through programs like the CIBC Student Entrepreneur of the Year Award.

Governance Achievements

• Updated and enhanced CIBC’s “Your Privacy is Protected” brochure.
• Introduced enhanced standards and information for branch employees to better resolve client concerns.
• CIBC Code of Conduct provides employees with guidelines consistent with values of Trust, Teamwork, and Accountability.

Climate Goals & Targets

Environmental Challenges

• Potential physical barriers impacting client experience in branches (parking, building access, etc.).
• Meeting the diverse needs of small business clients.

Mitigation Strategies

• Surveyed branches to understand and address physical barriers.
• Conducted a study to understand how to better serve small business clients.
• Made banking more accessible for small businesses by allowing account openings in all branches and offering remote services.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Client Relations
• Employee Well-being
• Community Investment
• Environmental Responsibility

Environmental Achievements

• Reduced waste generation across branch network (1,105 tonnes in 2007 vs 1,182 tonnes in 2006)
• Recycled 9,705 tonnes of paper products
• Reduced CO2 emissions from employee business travel and electricity purchases by 3% since 2005
• Reduced energy consumption by approximately 11,000 GJ in 2007
• Implemented a new sustainable mechanical and electrical design standard for CIBC buildings

Social Achievements

• Met or exceeded workforce representation goals for women, visible minorities, Aboriginal peoples, and persons with disabilities
• Contributed over $36 million globally to charitable and non-profit initiatives, with over $27 million invested in Canada
• Raised $26.5 million in the Canadian Breast Cancer Foundation CIBC Run for the Cure
• Introduced Personal Days to improve work-life balance
• Launched updated online health and safety training for managers and supervisors
• Highest recorded number of on-campus hires (106 summer students and 81 full-time recent graduates)

Governance Achievements

• Updated Corporate Environmental Policy (last updated in 2007)
• Incorporated environmental risk assessment into commercial and small business credit adjudication processes
• Rolled out updated environmental credit standards and procedures in 2007
• Continued participation in national and international environmental associations (UNEP FI, Canadian Bankers Association, Environmental Bankers Association, Carbon Disclosure Project)
• Recognized as “best in class” by the Carbon Disclosure Project

Climate Goals & Targets

Environmental Challenges

• Rising healthcare costs
• Potential regulatory requirements for mandatory greenhouse gas emission reductions
• Fraudulent activity

Mitigation Strategies

• Advocated a smart consumer approach to employee healthcare (negotiated discounts, generic drugs, lower dispensing fees)
• Completed a major portfolio risk review related to climate change regulatory requirements (2006)
• Ongoing research on climate change-related issues and initiatives
• Introduced enhanced security features (online security guarantee, anti-skimming devices on ABMs, CIBC CreditSmart features)

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Environmentally Responsible Procurement Standard (formalized and published in 2007)

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Regulatory changes

Opportunities

• Business opportunities related to climate change

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• CIBC Enviro-Saver mortgage

Awards & Recognition

• Top Employers for Workplace Diversity award (Canadian Immigrant magazine)

Environmental Metrics

ESG Focus Areas

• Economic
• Environmental
• Social
• Governance

Environmental Achievements

• Reduced energy consumption by more than 3% compared to 2010
• Increased the use of Forest Stewardship Council (FSC)-certified paper stock to 97%
• Installed approximately 47,000 square meters of environmentally preferred Cool Carpet tile, reducing greenhouse gas emissions by approximately 800 tonnes
• Reduced annual water consumption across the retail branch network by installing new lower flow aerators on faucets

Social Achievements

• Increased Employee Commitment Index for the seventh consecutive year
• Invested more than $62 million in employee training and development
• Invested more than $38 million in contributions to over 1,900 organizations in 450 communities
• Raised $4.1 million on CIBC Miracle Day in December 2011 to support children’s charities
• Nearly 13,000 CIBC employees raised more than $3 million through the 2012 Canadian Breast Cancer Foundation CIBC Run for the Cure

Governance Achievements

• Ranked the strongest bank in Canada and North America and third strongest bank in the world by Bloomberg Markets magazine
• Ranked among the top 10 of the World’s Safest Banks in North America by Global Finance magazine

Climate Goals & Targets

Environmental Challenges

• Employee turnover
• Maintaining a transparent supply chain
• Managing environmental risks associated with lending transactions

Mitigation Strategies

• Initiatives focused on increasing retention, including Fit to Role and Realistic Job Previews
• Developed a fair and inclusive procurement program to manage supplier relationships responsibly
• Implemented CIBC Environmental Credit Risk Management program to identify and manage environmental risks in lending decisions

Supply Chain Management

Responsible Procurement

• Fair, transparent, and disciplined process for selecting and managing suppliers
• Supplier evaluation on social and environmental initiatives
• Compliance with all applicable laws and regulations

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI G3 Guidelines, Canada Bank Act

Certifications: LEED® Gold certification

Awards & Recognition

• Strongest bank in Canada and North America, third in the world (Bloomberg Markets)
• Among top 10 World’s Safest Banks in North America (Global Finance)
• One of Canada’s 10 Most Admired Corporate Cultures (Waterstone Human Capital)
• One of Canada’s Top 100 Employers (Mediacorp Canada Inc.)
• One of Canada’s Best Diversity Employers (Mediacorp Canada Inc.)
• One of Canada’s Best Employers for New Canadians (Mediacorp Canada Inc.)
• Deal of the Year (Institutional Investor)
• Best Commercial Bank in Canada (World Finance)

Environmental Metrics

ESG Focus Areas

• Economic contribution
• Environmental responsibility
• Social investment (community investment, employee well-being)
• Governance practices

Environmental Achievements

• Increased the use of Forest Stewardship Council (FSC) certified paper stock to over 98% of paper used
• Led, co-led or participated in financings totalling more than $6 billion for renewable energy projects
• CO2 emissions were 4% lower than in 2011 (achieved through lighting retrofits, LED signage, building automation systems, and virtual servers)
• Reduced printing by 26 million pages in one year through electronic report retrieval

Social Achievements

• Invested more than $41 million to support community organizations across Canada
• Team CIBC raised over $3 million for the Canadian Breast Cancer Foundation CIBC Run for the Cure
• Raised a record $4.5 million for CIBC Miracle Day supporting children’s charities
• Raised a record $11.1 million for the 2012 United Way campaign
• Maintained a strong Employee Commitment Index in annual employee survey
• Recognized as one of Canada’s Top 100 Employers and as one of the Best Workplaces in Canada
• Named one of Canada’s Best Employers for New Canadians for the sixth consecutive year
• Named one of Canada’s Best Diversity Employers for the third consecutive year
• Invested more than $69 million in the training and development of employees

Governance Achievements

• Ranked the strongest bank in Canada and North America and the third strongest globally by Bloomberg Markets magazine
• Ranked among the top 10 of the World’s Safest Banks in North America by Global Finance magazine
• Selected for the Dow Jones Sustainability World Index for the 12th consecutive year
• Listed on the FTSE4Good Index since its inception in 2001
• Member of the STOXX Global ESG Leaders Indices since its inception in 2011
• Member of the Jantzi Social Index since its inception in 2000
• Executive compensation linked to company-wide economic, environmental, social and governance (EESG) performance

Climate Goals & Targets

Environmental Challenges

• Reducing paper consumption
• Managing GHG emissions
• Maintaining strong employee commitment and retention
• Addressing workforce representation gaps

Mitigation Strategies

• Promoting paperless record keeping and banking methods
• Implementing energy efficiency initiatives (lighting retrofits, LED signage, building automation systems, virtual servers, green power purchase)
• Investing in employee training and development, flexible work arrangements, and employee recognition programs
• Implementing diversity and inclusion strategies, including employment equity goals and employee affinity networks

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct
• Environmentally Responsible Procurement Standard

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Renewable energy financing

Reporting Standards

Frameworks Used: GRI G3 Guidelines, Dow Jones Sustainability Index, FTSE4Good, Jantzi Social Index

Certifications: ISO 14001 (implied)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• CIBC eAdvantage Savings Account
• CIBC More-for-your-home Mortgage Bundle
• Mobile banking app
• Mobile cash management app

Awards & Recognition

• Bloomberg Markets’ World’s Strongest Banks
• Global Finance magazine’s World’s Safest Banks
• Canada’s Top 100 Employers
• Canada’s Best Workplaces
• Canada’s Best Diversity Employers
• Canada’s Best Employers for New Canadians
• Canada’s Top Brands
• Best Canadian Brands
• ACT Canada Innovation Awards
• Greenwich Share leader in Overall Canadian Fixed Income Market share

Environmental Metrics

ESG Focus Areas

• Economic
• Environmental
• Social
• Governance

Environmental Achievements

• 98% of total paper used across the organization was Forest Stewardship Council certified
• Lent $310 million towards $2 billion of financing for renewable power projects

Social Achievements

• Contributed more than $65 million to support 1,850 community organizations across Canada
• Increased Employee Commitment Index in our annual employee survey
• Invested more than $60 million in the development of our people
• 86% of our team agree that CIBC is a great place to work and 87% are proud to be identified with our bank

Governance Achievements

• Ranked the strongest publicly traded bank in Canada by Bloomberg Markets magazine and the only North American bank listed all five years
• CIBC CEO joined the Catalyst Canada Advisory Board and was named Chair of the 30% Club Canada
• 100% of employees completed CIBC Mandatory Training and Testing

Climate Goals & Targets

Environmental Challenges

• Low-growth economy
• New emerging competitors
• Efficiency ratio higher than desired
• High levels of Canadian consumer debt
• Potential impacts of lower oil prices
• Slowdown in China's economy
• European sovereign debt crisis

Mitigation Strategies

• Investing in innovation to find new ways to add value and make banking easier and more flexible for our clients
• Bank-wide initiative Program Clarity to simplify business and reduce costs
• Targeting a non-interest expense ratio of 55% over the medium term
• Qualifying all variable rate mortgage borrowers using the Bank of Canada 5-year fixed benchmark rate
• Prudent monitoring of oil and gas portfolio
• Prudent stance in addressing tolerance for exposure to China
• Active monitoring and assessment of business and geo-political environment in Europe

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity & Inclusion
• Corporate Governance
• Executive Compensation
• Sales Practices
• Decarbonization
• Corporate Responsibility
• Risk Management

Environmental Achievements

• Reduced NIX ratio by 80 basis points (from 58.0% to 57.2%)
• Greenhouse gas (carbon) risk management program in place
• Responding to CDP's annual Carbon Questionnaire since 2003
• Disclosing information related to carbon risk and opportunity on website and in Corporate Responsibility Report

Social Achievements

• CIBC has been one of Canada’s Best Diversity Employers for the past seven years
• Women comprise 44% of directors nominated, 27% of Executive Committee members, and 30% of executives
• Hired more than 500 persons with disabilities in 2017
• Rolled out training to increase inclusive leadership capabilities
• Employee engagement score 7% above global financial services norm
• Measure of how likely employees are to recommend CIBC as a place to work and do business was 10 points higher than 2016

Governance Achievements

• Adopted a Proxy Access Policy
• Established a comprehensive global framework outlining CIBC’s approach to subsidiary governance
• 95% of shareholders voted in favor of the advisory resolution on executive compensation approach in the previous year
• Board adopted a Proxy Access Policy
• Annual review of director compensation program
• Amendments to the ESOP to enhance governance and align with best practices (eliminating grants of stock appreciation rights, limiting eligibility, introducing PSUs, introducing a clawback provision, limiting dilutive effect, changing vesting schedules)

Climate Goals & Targets

Environmental Challenges

• Pressure on employees to achieve sales targets and excessive supervision (as reported in media coverage)
• Climate change impacts on business operations and those of clients
• Maintaining a competitive deferred compensation program

Mitigation Strategies

• Participated in industry-wide review of sales practices
• Reinforced the need to act with integrity, transparency and respect in all dealings with clients in the Code of Conduct
• Developed a greenhouse gas risk management program
• Monitoring pilot project on scenario-based analysis in accordance with TCFD recommendations
• Proposed increasing the number of common shares available for issuance under the ESOP

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: TCFD

Awards & Recognition

• Canada’s Best Diversity Employers (multiple years)
• Catalyst Canada Honours Champion for CEO

Environmental Metrics

ESG Focus Areas

• Client Experience
• Inclusive Banking
• Climate Change
• Sustainable Finance
• Employee Engagement
• Inclusion and Diversity
• Community Relationships
• Corporate Governance
• Business Ethics
• Privacy and Information Security

Environmental Achievements

• 6% reduction in greenhouse gas emissions intensity
• 100% diversion of electronic waste from landfill
• 13% reduction in internal paper use per employee

Social Achievements

• Reached 85,000+ clients through financial education initiatives
• Invested $79 million in community organizations
• 89% employee engagement score

Governance Achievements

• 100% of employees completed CIBC’s ethical training on our Code of Conduct
• 47% women on the CIBC Board of Directors
• 93% of directors were independent

Climate Goals & Targets

Environmental Challenges

• Climate change impacts on operations and clients
• Maintaining high ethical standards across a large workforce
• Balancing business needs with community and environmental responsibilities

Mitigation Strategies

• Carbon Risk Management Program
• Robust ethics policies and training programs
• Commitment to sustainable finance and community investment

Supply Chain Management

Supplier Audits: Ongoing assessment process, including questionnaires on environmental and social performance

Responsible Procurement

• CIBC Supplier Code of Conduct
• Environmentally Responsible Procurement Standard
• Supplier Inclusion and Diversity Program

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products and services
• Growth in sustainable finance

Reporting Standards

Frameworks Used: GRI Standards, SASB

Certifications: Null

Third-party Assurance: Independent limited assurance for selected environmental and social indicators

UN Sustainable Development Goals

• Goal 3 (Good Health and Well-being)
• Goal 4 (Quality Education)
• Goal 5 (Gender Equality)
• Goal 7 (Affordable and Clean Energy)
• Goal 8 (Decent Work and Economic Growth)
• Goal 10 (Reduced Inequalities)
• Goal 11 (Sustainable Cities and Communities)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 16 (Peace, Justice and Strong Institutions)

CIBC's initiatives contribute to these goals through various programs and commitments

Sustainable Products & Innovation

• CIBC SmartBanking for Business
• New debit and credit card innovations

Awards & Recognition

• Bank Innovator of the Year by Digital Finance Institute
• Best Consumer Digital Bank in Canada by Global Finance magazine
• Best 50 Corporate Citizens in Canada by Corporate Knights

Environmental Metrics

ESG Focus Areas

• Client experience
• Privacy and information security
• Sustainable finance
• Inclusive banking
• Belonging at work
• Employee engagement
• Community relationships
• Business ethics

Environmental Achievements

• Reduced Scope 1 and Scope 2 GHG emissions by more than 5%
• Reduced GHG emissions intensity (CO2e/m2) by approximately 8% compared to 2018 baseline
• Reduced internal paper use per team member by 25% (35% reduction compared to 2018 baseline)
• Procured approximately 15,000 EcoLogo-certified renewable energy certificates (RECs) representing over 15,000 megawatt hours of electricity

Social Achievements

• Assisted more than 500,000 clients facing financial hardship through payment deferral programs
• Provided ‘front-of-the-line’ access to seniors and persons with disabilities
• Launched new fully digital solutions for clients, including small- and mid-sized business owners
• Introduced a COVID-19 Relief Offering for team members
• Raised $5.6 million for CIBC Children’s Foundation through CIBC Miracle Day
• Raised $2 million for breast cancer research through a virtual Canadian Cancer Society CIBC Run for the Cure
• Increased representation of women, visible minorities, and leaders from the Black community in Board-approved executive roles
• Engaged more than 52,600 clients in financial education through seminars, webinars, and national events

Governance Achievements

• Completed a formal, comprehensive materiality assessment engaging over 1,800 individuals and organizations
• Aligned ESG disclosure with UN Sustainable Development Goals
• Introduced personal performance measures related to climate change targets for the Chief Risk Officer
• Instituted quarterly review of environmental risk by Board committee
• Obtained limited assurance of key environmental and social metrics
• 100% employee completion rate for ethical training on the Code of Conduct

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic and its impact on clients, team members, and communities
• Supply chain disruptions due to the COVID-19 pandemic
• Three privacy findings against CIBC by regulators in 2020

Mitigation Strategies

• Implemented various relief measures for clients and team members
• Adjusted business operating model to respond to client needs during the pandemic
• Enhanced transparency around banking costs
• Accelerated digitization of online processes
• Worked cooperatively with the Office of the Privacy Commissioner of Canada to resolve privacy findings
• Strengthened controls to mitigate risks related to the pandemic

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct
• Environmentally Responsible Procurement Standard
• Supplier Inclusion and Diversity Program
• Accessibility Procurement Standard (in development)

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards

UN Sustainable Development Goals

• 3
• 4
• 5
• 7
• 8
• 9
• 10
• 11
• 13
• 16

CIBC's actions contribute to several UN SDGs through its commitment to sustainability and addressing material issues.

Awards & Recognition

• Canada’s Best Diversity Employers (ten years in a row)
• Bloomberg’s best organizations globally for gender equality (six consecutive years)

Environmental Metrics

ESG Focus Areas

• Accelerating climate action
• Creating access to opportunities
• Building integrity and trust

Environmental Achievements

• Reduced absolute GHG emissions from operations in North America by 20% by 2021 (66% achieved to date towards a 30% reduction by 2028)
• Mobilized $34.9 billion in sustainable finance activities (25.7% achieved to date towards a $300 billion target by 2030)

Social Achievements

• Increased representation of women in Board-approved executive roles to 38% in 2021
• Increased corporate giving, corporate sponsorships and employee giving and fundraising to $133 million in 2021
• Provided $4.8 billion in new loan authorizations to small and medium-sized enterprises in 2021
• Employee engagement score exceeded the Willis Towers Watson Global Financial Services Norm by 89% (109.88% of the norm)

Governance Achievements

• 100% of employees completed CIBC ethical training on our Code of Conduct
• No unresolved privacy findings against CIBC by regulators
• Executive Compensation Linked To ESG: Yes (10% of Business Performance Factor includes ESG factors)

Climate Goals & Targets

Environmental Challenges

• Climate change impacting the planet and communities
• Persistent inequality among people
• Supply chain disruptions (implied)
• Cybersecurity threats

Mitigation Strategies

• Developed a Climate Transition Plan with a net-zero ambition by 2050
• Increased commitment to sustainable finance
• Implemented robust cybersecurity safeguards
• Enhanced data protection measures
• Developed alternative sourcing strategies (implied)

Supply Chain Management

Responsible Procurement

• CIBC Supplier Code of Conduct

Climate-Related Risks & Opportunities

Opportunities

• Sustainable finance
• Renewable energy investments
• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards (Core report), SASB, TCFD

Certifications: ISO 14064-3:2019 (Greenhouse Gas Emissions)

Third-party Assurance: Independent limited assurance for selected environmental and social performance indicators

UN Sustainable Development Goals

• Goal 3
• Goal 4
• Goal 5
• Goal 7
• Goal 8
• Goal 9
• Goal 10
• Goal 12
• Goal 13
• Goal 16

Various initiatives contribute to these goals as detailed in section 5.4

Sustainable Products & Innovation

• Green loans
• Sustainability-linked loans
• ESG bonds
• CIBC GoalPlanner
• CIBC Insights
• Virtual Assistant
• Digital Identity Verification

Awards & Recognition

• Top 10 ranking in financing for the renewable industry across North America
• #1 in customer satisfaction for mobile banking apps among Canada’s largest banks (J.D. Power)
• Top rank in Canada for mobile banking experience (Surviscor)
• Best Unique or Innovative Learning and Development Program – GOLD
• Best Learning Program Supporting a Change Transformation Business Strategy – SILVER
• Leading company in Canada for gender equality (Equileap)
• Ranked 19th globally in Equileap’s Gender Equality Global Report & Ranking
• Included in the Bloomberg Gender-Equality Index for the seventh consecutive year
• The Globe and Mail’s ranking of Canada’s top corporate boards
• Ranked A- among the top-tier of global banks for climate actions by CDP
• Outstanding Community Reinvestment Act Rating from the Federal Deposit Insurance Corporation (FDIC)

Environmental Metrics

ESG Focus Areas

• Accelerating climate action
• Creating access to opportunities
• Building integrity and trust

Environmental Achievements

• 22% reduction in absolute Scope 1 and 2 emissions from 2018 baseline
• 35% of electricity used in Canada and the U.S. came from renewable energy sources or credits

Social Achievements

• 90% employee engagement score
• Launched Black Entrepreneur Program
• $81M invested in community organizations globally
• Increased representation for people of colour in Board-approved executive roles to 24%

Governance Achievements

• 50% women on CIBC’s Board of Directors
• 100% employee completion rate for Code of Conduct training
• No unresolved well-founded privacy findings against CIBC from the Office of Privacy Commissioner of Canada

Climate Goals & Targets

Environmental Challenges

• Increased incidents of extreme weather events impacting operations and client access
• Ongoing economic uncertainty impacting growth in responsible investment holdings
• Inflationary pressures
• Geopolitical risk
• Global supply-chain disruptions

Mitigation Strategies

• Investing in operational and client-focused carbon reduction strategies
• Developing internal energy transition and climate expertise
• Accelerating climate action through industry partnerships and collaboration
• Refining Total Rewards offering to remain competitive
• Expanding access to learning content and increasing curated development opportunities

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (floods, hurricanes, wildfires, extreme temperatures)

Transition Risks

• Increasing GHG regulation compliance costs for clients
• Changes in consumer behavior

Opportunities

• New areas of the economy emerging from policy response and changes in consumer behavior
• Development of climate technology and energy transition funds

Reporting Standards

Frameworks Used: GRI Standards, SASB Standards, TCFD

Certifications: ISO 14064-3:2019, ISAE 3000

UN Sustainable Development Goals

• Goal 3
• Goal 4
• Goal 5
• Goal 7
• Goal 8
• Goal 9
• Goal 10
• Goal 12
• Goal 13
• Goal 16

Detailed mapping provided in section 6.3

Sustainable Products & Innovation

• Green bonds
• Sustainability-linked loans
• Transition finance
• Sustainable investment solutions
• CIBC Smart Start

Awards & Recognition

• Ranked highest in Customer Satisfaction for Online Banking among Canada’s largest banks by J.D. Power
• Award winner of the Ipsos Financial Service Excellence Award 2022 for Mobile Banking Excellence
• Financial Adviser of the Year (ESG) – The Americas by IJGlobal ESG Awards

Environmental Metrics

ESG Focus Areas

• Accelerating climate action
• Creating access to opportunities
• Building integrity and trust

Environmental Achievements

• 26.3% cumulative reduction in GHG emissions from operations (from 2018 baseline) (Canada, US)

Social Achievements

• Launched employee well-being program, resulting in 90% employee engagement score
• $66 million in community investment (Global)
• Increased the share of women in Board-approved executive roles to 39% in 2023

Governance Achievements

• Established Trustworthy AI Principles and an AI governance framework
• Developed and published Generative AI guidelines for all CIBC team members

Climate Goals & Targets

Environmental Challenges

• Data lag in client emissions reporting
• Slowdown in external hiring impacting Indigenous representation goals

Mitigation Strategies

• Developed alternative sourcing strategies
• Leveraging inclusive talent partnerships and inclusion scholarships

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events impacting operations

Transition Risks

• Regulatory changes, market shifts impacting clients in carbon-intensive industries

Opportunities

• Growth in renewable energy sector

Reporting Standards

Frameworks Used: GRI Standards, SASB

Certifications: ISO 14064-3:2019, ISAE 3000

Third-party Assurance: Independent limited assurance

Sustainable Products & Innovation

• Green vehicle loans
• Sustainable investment solutions
• CIBC Smart Planner

Awards & Recognition

• Employment Equity Achievement Award for Indigenous Reconciliation
• Canada’s Top 100 Employers
• Canada’s Top Employers for Young People
• Canada’s Greenest Employer
• Equileap’s 2023 Gender Equality Global Report & Ranking
• J.D. Power awards

Environmental Metrics

ESG Focus Areas

• Environmental Management

Climate Goals & Targets

Environmental Challenges

• Environmental risks (including climate-related issues) arising directly from operations or indirectly from credit and investment activities.

Mitigation Strategies

• Implementing an Environmental Management System (EMS) to reduce environmental impact, ensure compliance, and continuously improve performance.
• Developing, implementing, and maintaining standards and procedures to review, assess, and manage environmental risks in lending and investment activities.
• Avoiding transactions where counterparties don't address environmental issues responsibly.
• Considering stakeholder views on environmental issues.
• Integrating environmental considerations into procurement and seeking environmentally responsible third parties.
• Minimizing the environmental impact of products and services and promoting environmentally friendly financial products.

Supply Chain Management

Responsible Procurement

• Integrating environmental considerations into procurement and seeking to form business relationships with third parties and sub-contractors who follow acceptable environmental standards, as outlined in the Environmentally Responsible Supplier Engagement Standard

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Recognized reporting frameworks (mentioned but not specified)