Our net-zero ambition

Our role in the net-zero transition

“Climate change is a critical and defining issue of our time, and CIBC is taking important steps to help mobilize stakeholders and chart a new path towards a low-carbon future. The targets we have set will be key to accelerating our actions aimed at addressing climate change, and we are committed to supporting our clients as we navigate this transition together and realize our shared ambition for a more sustainable future.” 

Oil and gas sector targets 

Scope 1 and 2

-35%

Scope 3

-27%

Target-setting framework

Science-aligned

Informed by credible climate science and aligned with widely accepted decarbonization pathways that limit warming to 1.5°C with no or low overshoot.

Comprehensive

Capture a majority of our greenhouse gas emissions within our boundaries and strive for full coverage as soon as possible. 

Transparent

Provide transparency in our methods, metrics and reporting of our GHG emissions calculations and targets, as well as in the progress towards our net-zero ambition.

Iterative

As new information becomes available, we’ll ensure our targets are consistent with the best available climate science, standards, guidance, data and industry best practices.

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