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CIBC has once again been honoured as one of Canada's Greenest Employers for 2024, marking its third consecutive receipt of this award from MediaCorp Canada.  

The award celebrates CIBC's ongoing commitment to environmental stewardship and the promotion of a sustainability-oriented culture both within the organization and the broader community.   

Kikelomo Lawal, executive vice-president, chief legal officer, and chair of the Senior Executive ESG Council at CIBC, expressed pride in the recognition. “We are honoured to be named as one of Canada's Greenest Employers,” Lawal stated.  

“Sustainability is a core pillar of our purpose-driven commitment to ESG, and we remain focused on advancing sustainable initiatives throughout our operations to contribute to a more inclusive and prosperous future for our clients, team members, and the communities we serve.”   

The criteria for the Canada's Greenest Employers award encompass several factors. These include the development and success of unique environmental initiatives, the extent to which these initiatives reduce the organization's environmental footprint, and employee involvement in these efforts.  

Additionally, the award considers the effectiveness of these initiatives in attracting new talent to the organization.   

In 2023, CIBC made significant investments towards its sustainability goals:   

• The bank achieved a 26.3 percent cumulative reduction in absolute greenhouse gas emissions (Scope 1 and 2) from its operations in Canada and the US since 2018, with plans to reach a 30 percent reduction by 2028. 

• CIBC's global headquarters, CIBC SQUARE, received Platinum Certification for Leadership in Energy and Environmental Design (LEED), the highest level of achievement under the LEED building rating system. 

• The bank announced a 2030 interim net-zero target for its automotive manufacturing portfolio and showed continued progress towards its 2030 interim net-zero targets for its oil and gas and power generation portfolios. 

CIBC also underscored its commitment through various sustainability partnerships:   

• It joined the RMI Centre for Climate Aligned Finance, becoming one of the first banks in Canada to do so. 

• CIBC is a member of the Partnership for Carbon Accounting Financials (PCAF), which is spearheaded by the financial industry to create a harmonized global standard for measuring and disclosing greenhouse gas emissions associated with loans and investments. 

• The bank is collaborating with Export Development Canada (EDC) to expand sustainable finance solutions for Canadian businesses.