Environmental performance

CIBC manages and reports on a number of key environmental performance indicators. We continue to seek ways to reduce the environmental impact of our facilities and operations, with a focus on pollution prevention and the efficient use of natural resources.

Learn more about CIBC's environmental performance (XLS, 65 KB) 


CIBC reports on our environmental performance through our annual Sustainability Report and other publicly available documents.

CIBC has been a respondent to the Dow Jones Sustainability Indexes (DJSI)Opens a new window in your browser since 2002, and has been listed as a component in the DJSI North American Index since 2005.

DJSI tracks the financial performance of the world's leading companies in terms of economic, environmental and social criteria. The indices serve as benchmarks for investors who integrate sustainability considerations into their portfolios.

CIBC has been an annual respondent to the Carbon Disclosure Project (CDP)Opens a new window in your browser climate change program since its initial launch in 2003.

In 2017, CIBC was selected by Corporate Knights as one of the Best 50 Corporate Citizens in CanadaOpens a new window in your browser marking the 10th time that CIBC has made the list since the annual ranking began in 2002.

In 2018, CIBC was ranked one of Corporate Knights' Global 100 Most Sustainable CorporationsOpens a new window in your browser for the first time. CIBC was one of only four Canadian companies, and the only Canadian bank to make the list.

CIBC is also listed on several indexes that are designed to help clients incorporate Environmental, Social and Governance (ESG) factors into their investment decision making processes. These indexes recognize companies who demonstrate strong ESG practices.

View a full list of CIBC's Awards and RecognitionsOpens a new window in your browser

Climate Change, Energy and Greenhouse Gas (GHG) Emissions Management

CIBC recognizes that climate change is an important environmental issue. Its physical effects, along with the regulations designed to mitigate it, will have a measurable impact on communities and businesses all over the world. As such, we are committed to understanding and responsibly managing the regulatory and physical impacts of climate change on our business. As a service-based company, CIBC has relatively low GHG (also referred to as 'carbon') emissions. However, many of our clients operate businesses that are currently facing or will face new carbon emission regulations in the future. Furthermore, we recognize that there are opportunities to further improve our carbon emission performance that is associated with our operations, supply chain, and business activities. With this in mind, CIBC began examining climate change issues in 2002 and our efforts evolved into a carbon risk management program. This program is designed to assess and manage the impacts (both positive and negative) of climate change and climate change-driven regulations on our business operations and those of our clients.

The on-going Carbon Management Program consists of the following five elements:

  1. Managing carbon emissions from CIBC's operations (our own climate change footprint)
  2. Assessing the impact of climate change regulation on CIBC's Credit Portfolio
  3. Tracking and assessing opportunities in emerging North American carbon markets
  4. Developing screening tools for climate change risk in credit risk assessment
  5. Assessing the physical impacts of climate change to CIBC's operations and to our lending & investment portfolio

CIBC pursues opportunities to reduce both our direct and indirect carbon emissions throughout our network of over 1,100 branches and offices worldwide. We proactively invest in energy reduction initiatives to achieve a measurable decrease in our energy use and associated carbon emissions.

Our Green Building Design Criteria, which include energy efficiency, are applied to new builds in our branch network and offices. We are focused on reducing our environmental impact while improving the comfort of our employees and clients.

Task Force on Climate-related Financial Disclosures and CDP

CIBC supports the recommendations published by the Task Force on Climate-related Financial Disclosure (TCFD), a global working group that developed guidelines for voluntary climate-related financial risk disclosure for use by companies. TCFD Climate-related Financial Disclosure enables stakeholders to assess and compare how a company is adapting its governance, strategy and risk management practices as a result of climate change using a consistent framework. Implementation of the TCFD recommendations will take time and a phased approached, but we’re committed to this new framework. Our Building a Sustainable Future report (PDF, 3.0 MB) Opens a new window in your browser. is our first climate-related disclosure aligned to the TCFD guidelines and structured around its four core elements: governance, strategy, risk management and metrics and targets.

CIBC also discloses information related to carbon risks and opportunities through our response to the annual Carbon Questionnaire of CDP, formerly the Carbon Disclosure Project (PDF, 480 KB) . Our response provides details on our governance, strategy and operational carbon emissions.

Data centres

CIBC does not own or operate our primary data centres. Data centre activities are outsourced to industry leading service providers that utilize high-efficiency technologies. The Power Usage Effectiveness (PUE) of our service providers ranges from 1.2 to 2. Our service providers have set targets and made significant investments to improve the energy efficiency of their data centres. Some examples of energy reduction initiatives implemented by our services providers include:

  • Using ‘free cooling’ technologies
  • Installing thermal management technologies
  • Increasing temperature set points to reduce cooling requirements
  • Shutting down computer room air conditioning units
  • Retrofitting data centre lighting with LED fixtures

Paper reduction and recycling

One of CIBC's largest environmental impacts and sources of waste is paper. We continue to find ways to reduce and eliminate paper use where possible.

For example, we use double-sided printing as the default as well as secure print technology, which requires users to confirm their print job prior to printing. We also ensure that all of our internal paper materials across our branch network and office buildings are securely collected, shredded and recycled.

In 2017, CIBC continued its focus on improving our internal processes to make them more efficient and to reduce paper consumption. Since 2015, our internal paper use per full-time equivalent employee has decreased by more than 22%.

We also extend our paper waste reduction efforts to our clients by offering paperless banking methods such as pre-authorized bill payment, online transfers, direct deposit programs, eDeposits and telephone and online banking. 

Our mobile banking applications offer the convenience of doing everyday banking from anywhere, anytime to our more than 3.1 million mobile banking clients, while also reducing paper waste.

Waste management

In addition to paper, CIBC encourages recycling of aluminum cans, glass, plastics, organics, cardboard, toner cartridges and batteries where available in our office buildings and select branches. In 2016, CIBC implemented a toner cartridge recycling program in all of our branches. Through this program we are able to return all used toner cartridges for remanufacturing or recycling.

Refurbished office furniture

Maximizing the reuse of office equipment and furniture is an important element of reducing our waste.

For many years, CIBC has partnered with our furniture supplier to refurbish and re-deploy surplus furniture across the organization. Items that cannot be repaired are broken down into individual material components and recycled. Overall, the program ensures quick replacement of furniture when needed and reduces costs and waste. In 2017 alone, CIBC diverted more than 19,000 pieces or 882 tonnes of furniture from landfill.

Electronic waste

In Canada, the United States, the United Kingdom, and the Asia-Pacific region 100% of CIBC's used electronics are donated, reused, recycled or upcycled.

Where feasible, CIBC redeploys used electronics within the organization. Equipment sent for recycling is broken down into its individual material components, such as metal, aluminum, copper, plastic and glass and recycled or upcycled into new, innovative products. In 2017, we recycled, combined, over 200,000 kilograms of copper, metal, and plastic material removed from electronic waste.

Renewed Computer Technology

CIBC has been the largest corporate supporter of the Renewed Computer Technology (RCT) program since our partnership began in 1993.

A portion of CIBC's used electronics is donated to RCT, a not-for-profit, charitable organization in Canada that is helping to meet the need for computers in schools, public libraries and not-for-profit learning organizations. In Ontario, RCT is licensed by Industry Canada to operate the Computers for Schools program, which collects, repairs and refurbishes donated used computers from government and the private sector.

In 2017, CIBC donated more than 3,600 computer components to the program, which diverted over 26,000 kilograms of electronic waste from landfills. Also in 2017, RCT recognized CIBC’s contributions with their most prestigious Gold Technology Accelerator Award.

Green IT

CIBC's Green IT focus continues to enhance our IT infrastructure to provide environmental benefits across CIBC. In accordance with our Environmentally Responsible Procurement Standard, we manage our computers, monitors and printers to use less energy and to produce less waste.

Our IT team continues to deploy 'virtual' servers that share computer resources, such as memory and disk space with other servers, which ultimately helps reduce CIBC's energy consumption. At the end of 2017, there were approximately 5,500 virtual servers installed globally.

CIBC actively promotes the use of energy-efficient, shared network, multi-functional devices, including all-in-one printers, copiers and scanner devices. We encourage our employees and departments to reuse devices rather than replace them with new ones. Since initiating this program CIBC has reused over 2,100 devices.

In 2016, CIBC changed its default font on workstations to a more eco-friendly font that uses an estimated 15% less toner when printed. The new font has fewer pixels, which leads to lower ink coverage. It also fits more characters per page, which can reduce paper use.

In 2016 and 2017, CIBC implemented a program to analyze and optimize our existing fleet of printers in office locations. The program, which focused on reducing printers while maintaining daily operations, successfully eliminated approximately 500 printers. As a result, CIBC has significantly lowered paper and toner consumption in these locations.

Business travel

When travel is required, CIBC employees are asked to combine trips and meetings to make each business trip as efficient as possible. Our travel policy also encourages employees to walk, bike, carpool and use public transportation or hotel shuttles whenever possible. To improve fuel economy and reduce emissions, CIBC employees are required to rent economy size or compact vehicles.

We encourage our employees to consider alternatives to business travel, such as conference calls and online meetings.

Furthermore, CIBC has standardized the installation of bike racks for all new branch locations. In our rented premises, CIBC works with our landlords to help ensure the provision of bike racks for our clients and employees.

2019 Sustainability Report

For CIBC, sustainability is integral to the way we think about and manage our business. Our 2019 Sustainability Report summarizes our commitment to our stakeholders and highlights the activities we are undertaking to enhance our economic, environmental, social and governance contributions.

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