Capital markets lending and advisory

Across sectors, CIBC Capital Markets has a long history of providing financial and advisory solutions to clients that are expected to play a role in the transition to a low-carbon economy. We’re at the forefront of financing new and innovative projects and businesses that contribute to renewable and emissions-free energy, energy efficiency, sustainable infrastructure and technology, sustainable real estate, sustainable forestry and agriculture.

We’re focused on increasing lending and capital markets activities to ESG-driven business leaders, including a growth of products such as green or sustainability-linked financial products. Particularly in 2021, we advised and mobilized $34.9 billion in environmental and sustainable finance activities, achieving a cumulative 25.7% or $77 billion over the past 3 years of our 13-year target.

In addition, we achieved a top 10 ranking in financing for the renewable industry across North America for transactions that closed from January 1, 2021 to September 30, 2021.

Renewable and emissions-free energy

Maverick Creek Wind Project

The Maverick Creek Wind Project is a 492 MW wind project located in Concho County, Texas. The Project is jointly sponsored by Algonquin Power & Utilities Corp. and Renewable Energy Systems Americas Inc. Upon completion, Maverick Creek will sell energy under 2 long-term power purchase agreements with 2 investment grade off-takers. In 2020, CIBC acted as the Coordinating Lead Arranger, Administrative Agent, and Depositary Bank for the $570 million construction financing of the project. Prior to the financing, CIBC also served as an advisor to RES for the sale of the project in 2019.

Greencoat Wind Projects

In 2020, CIBC provided funding to two separate Greencoat entities, acting as Mandated Lead Arranger (MLA) and Hedge Provider to Greencoat UK Wind PLC (UKW), United Kingdom’s leading listed renewable infrastructure fund and as MLA to Greencoat Renewables plc (GRP), also one of the leading listed renewables funds in Europe. Both companies invest predominantly in operating onshore and offshore windfarms.

Partnership for Carbon Accounting Financials

In 2021, CIBC joined the Partnership for Carbon Accounting Financials (PCAF), an initiative led by the financial industry to develop a harmonized global standard to measure and disclose the greenhouse gas emissions (GHG) of loans and investments. Using jointly developed GHG accounting methodologies will help enable CIBC to align its targets with the Paris Climate Agreement.

Center for Climate-Aligned Finance

In 2021, CIBC also joined RMI’s Center for Climate-Aligned Finance (the Center) as a Strategic Partner and the first Canadian bank to announce its partnership in the Center's efforts to develop the agreements and tools necessary to align financial decision-making with the long-term decarbonization of the real economy.

The Center serves as an “engine room” for the financial sector to work with corporate clients to identify practical solutions through deep partnerships with industry and policymakers to facilitate a transition in the global economy to net-zero emissions by mid-century. Achieving meaningful targets for carbon reduction requires the support of financial institutions, and the commitment of innovative companies in high-emitting sectors focused on the long term and committed to progress toward a more sustainable future. The collective impact of these stakeholders will be essential to achieving long-term goals.

Resources

2022 Sustainability Report

2022 Climate Report

2022 CDP Response (PDF, 830 KB) Opens in a new window.

Corporate Environmental Policy (PDF, 130 KB) Opens in a new window.

Supplier Code of Conduct (PDF, 320 KB) Opens in a new window.

CIBC Sustainability Issuance Impact Report

Responsible Investing Policy (PDF, 70 KB) Opens in a new window.