PR Newswire | Oct 4, 2021 08:02AM EDT

10/04 07:00 CDT

CIBC introduces new Sustainability Issuance Framework TORONTO, Oct. 4, 2021

New framework expands product offerings for clients and investors focused on financing green and social impact

TORONTO, Oct. 4, 2021 /CNW/ - CIBC today announced its new Sustainability Issuance Framework ("the Framework") to help mobilize capital and develop market-based solutions to support investments that shape a more sustainable economy. The Framework replaces and updates CIBC's existing Women in Leadership and Green Bond Frameworks to include three types of issuances: Green, Social and Sustainability.

A first for a major Canadian bank, the new Framework includes a range of products, beyond bonds, to support the financing of sustainable businesses, projects, and assets. The products include, but are not limited to, bonds, notes, certificates, commercial paper, deposits, guaranteed investment certificates ("GICs") and market-linked GICs.

"CIBC is committed to helping our clients build a more sustainable future," said Harry Culham, Group Head, CIBC Capital Markets. "With intensifying global challenges, the Sustainability Issuance Framework is just one way we are mobilizing capital towards a lower carbon world and a more sustainable and inclusive economy."

CIBC's Sustainability Issuance Framework is in alignment with the International Capital Market Association Green Bond Principles 2021, Social Bond Principles 2021 and Sustainability Bond Guidelines 2021. The Framework has received a Second-Party Opinion from Sustainalytics, a global leader in independent ESG and Corporate Governance research, ratings and analytics.

Over the past few years, CIBC has accelerated its contribution to creating a more sustainable future. In the past year, the bank intensified its investments in key environmental, social and governance ("ESG") initiatives.

Recently, CIBC announced its ambition to achieve net zero greenhouse gas emissions associated with operational and financing activities by 2050, and a significant increase in its commitment to mobilizing sustainable finance to a target of $300 billion by 2030. This Sustainability Issuance Framework will in part contribute towards this commitment. CIBC also recently announced Project Carbon, a voluntary carbon offset marketplace to bring efficiency, liquidity, and global standards to the carbon offset ecosystem, a key element in achieving net zero targets.

About CIBC

CIBC is a leading North American financial institution with 10 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