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 from 2014 to 2016.
 

Reporting

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

CIBC has been a respondent to the Dow Jones Sustainability Indexes (DJSI) 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) climate change program since its initial launch in 2003.

CIBC has also been included on the Jantzi Social Index since its inception in 2000 and the FTSE4Good Index since its inception in 2001.

In 2016, CIBC was selected by Corporate Knights as one of the Best 50 Corporate Citizens in Canada, marking the ninth time the bank has made the list since the annual ranking began in 2002. Also in 2016, CIBC was listed as a constituent of the MSCI Global Sustainability Indexes, which are designed to provide exposure to companies that have high environmental, social and governance performance.

View a full list of CIBC's Awards and Recognitions
 

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.
 

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.

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. These mobile banking applications offer the convenience of doing everyday banking from anywhere, anytime to our 2.7 million mobile banking clients, while also reducing paper waste.

CIBC was first among the Big 5 Canadian banks to add an eDeposit feature to our mobile banking application. Now, personal and business banking clients can deposit cheques directly into their accounts by taking a photo from their mobile phones.

Waste management

In addition to paper, CIBC encourages recycling of aluminum cans, glass, plastics, organics, 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 2016 alone, CIBC diverted approximately 14,000 pieces or 638 tonnes of furniture from landfill.

Electronic waste

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

CIBC also recycles back-up tapes and copper cable. In 2016, these two recycling initiatives diverted more than 16,000 kilograms of waste material from landfills. Where feasible, CIBC redeploys used electronics within the organization. Equipment sent for recycling is broken down into its individual material components and recycled or upcycled into new, innovative products.

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 Renewed Computer Technology (RCT). RCT is 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 2016, CIBC donated more than 4,000 computer components to the program, which diverted over 30,000 kilograms of electronic waste from landfills. Also in 2016, 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 2016, there were approximately 5,000 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 also encourage our employees and departments to reuse devices rather than replace them with new ones. Since initiating this program, CIBC has retired more than 15,400 devices and 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.

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.


2016 Corporate Responsibility Report and Public Accountability Statement

For CIBC, corporate responsibility is integral to the way we think about and manage our business. Our 2016 Corporate Responsibility Report and Public Accountability Statement summarizes our commitment to our stakeholders and highlights the activities we are undertaking to enhance our economic, environmental, social and governance contributions.

Enter our interactive online report

Carbon Disclosure Project

View our 2017 CDP Response (630 KB)