At CIBC, we recognize that engagement with our stakeholders on environmental matters is fundamental to maintaining a progressive and successful environmental management program. Here are some examples of how we are engaging with our internal and external stakeholders:

Employees
Investors
Clients
Non-governmental organizations
Professional associations
Government
External advisors
Community investment

Employees

We recognize that increased knowledge and understanding of environmental issues can encourage responsible action by our employees. Our Environmental Risk Management (ERM) group works with employees in various business areas and risk management on a daily basis to help assess and manage environmental issues associated with business transactions. The ERM group also participates in training and information sessions with employees, providing general information on environmental management policies and practices, or describing specific environmental topics, such as climate change or brownfield finance.

Our employees participate in a number of environmental events, including Earth Week celebrations held each April, in partnership with the property manager at our downtown Toronto headquarters. We also supported the City's 20-minute Toronto Makeover in St. James Park in 2005.

As well, we provide employees with environmental information and lending tools through our internal "CIBC and the Environment" website.

Investors

CIBC pursues constructive engagement with investors who are interested in how the bank is addressing credit and reputational risk issues related to environmental matters. In recent years, we have met with interested investors on the topics of climate change, biodiversity, the boreal forest, indigenous rights, and transparency and disclosure. In 2006, we held a number of productive discussions with the Ethical Funds Company to address their questions regarding CIBC's integration of boreal forest and climate change considerations into the credit risk assessment process.

We regularly provide environmental, social and governance information to socially-responsible investors and analysts who include us in socially-responsible mutual funds and indices - including the Jantzi Social Index, the FTSE4Good, the Dow Jones Sustainability World Index, and the Desjardins Environment Fund. In 2006, we also responded to the fourth information request of the Carbon Disclosure Project (CDP4), as described on the Climate Change page.

Clients

In March 2007, CIBC co-organized and hosted a workshop on social and environmental issues in oil and gas development and finance. The objective of the workshop was for participants to better understand the social and environmental challenges, particularly in Canada's oil sands developments, and how the issues were being managed. Participants included representatives from major Canadian oil and gas companies, the Canadian Association of Petroleum Producers and all of Canada's major banks.

Non-governmental organizations

We have regular conversations and meetings with non-governmental organizations (NGOs) on a variety of social and environmental topics. Throughout 2006 and 2007, CIBC has been working closely with the Canadian Boreal Initiative (CBI) to scope out and implement a comprehensive strategy to consider biodiversity and boreal forest impacts in our business and operating activities. The CBI works with a wide range of conservation organizations, First Nations, industry and other interested parties to link science, policy and conservation activities in Canada's boreal forest.

In August 2006, we held a stakeholder consultation session to update interested parties on our programs, priorities and progress. Participants represented the World Wildlife Fund Canada, Canadian Boreal Initiative, Rainforest Action Network, Forest Ethics, and the Ethical Funds Company. Participants had the opportunity to provide CIBC with helpful ideas and feedback on how to strengthen and focus our activities.

Professional associations

Canadian Bankers Association
CIBC has been a member of the Environmental Issues Specialists Group (EISG) of the Canadian Bankers Association since 1992. The group provides a forum for inter-bank consultation on environmental issues affecting EISG members, banks and, when appropriate, acts as an industry representative regarding these issues. The EISG reviews and provides feedback on proposed new and revised environmental statutes that may affect the business activities of Canadian banks and their clients. This includes commenting on proposed legislation such as Ontario's recent Brownfields legislation, revisions to Alberta's Environmental Protection and Enhancement Act, and proposed changes to the Canadian Environmental Protection Act regarding the management of underground storage tanks.

Environmental Bankers Association
CIBC is a member of the Environmental Bankers Association, a U.S.-based forum for disseminating information of interest to the North American financial services industry with respect to transactional environmental due diligence, risk management and sustainable development affecting lending and trust activities.

United Nations Environmental Programme Finance Initiative
In 1992, CIBC became a signatory to the United Nations Environmental Programme (UNEP) Statement by Financial Institutions on the Environment & Sustainable Development. Over 160 financial institutions including banks, insurers and fund managers, work with UNEP to understand the impacts of environmental and social considerations on financial performance.

CIBC has been a member of the UNEP FI North American Task Force since 2002. This Task Force consists of representatives from the North American banks that are signatory to the UNEP Statement by financial institutions. Its primary mission is to support and expand sustainable financial institution practices in North America. In 2006, CIBC was elected Chair of the North American Task Force of the UNEP FI for a 2-year term. Chairmanship of the NATF also includes a position on the Steering Committee of the UNEP FI, which has enabled CIBC to participate in the strategic planning, budgeting, and decision-making process. In June 2006, we hosted a UNEP FI workshop on Environmental Risk Management in Toronto, attended by 45 bankers from around the world.

Government

Environment Canada's Informal Network on Linking Environmental Performance to Financial Value

The Network is a forum to increase communication and co-ordination among North American expert organizations working on linking environmental performance to financial value. It aims to identify and to contribute to research and analysis on the connection between environmental performance and business value, including financial value, in the North American context. Further, it aims to make this research and analysis more relevant to financial sector audiences.

From its start in 2004, CIBC has been actively participating in this network along with other members from the financial sector, industrial corporations, academia, Environmental Non Governmental Organizations and the public sector.

External advisors

In recent years, proactive dialogue with clients and investors has drawn our attention to a number of key areas, including environmental disclosure and transparency, climate change, forestry and biodiversity issues.

In late 2005, CIBC's Environmental Risk Management group sought out finance and sustainability experts with diverse backgrounds to help us understand how those outside the bank view our strategies, and what experts think we should be doing. Through these discussions, CIBC has better positioned itself to understand key environmental issues for banks in the short and medium term; views on CIBC's current environmental management strategies; and what CIBC should be considering in 2007 and beyond.

Community investment in environment

At CIBC, we contribute funding to a wide range of organizations dedicated to environmental protection and awareness.

View examples of some of our more recent contributions.