Canadian Imperial Bank Of Commerce
The Canadian Imperial Bank of Commerce (CIBC), headquartered in Toronto, Ontario, is a leading financial institution in Canada, renowned for its comprehensive banking services. Founded in 1867, CIBC has evolved into a major player in the banking industry, serving millions of customers across Canada and internationally. CIBC offers a diverse range of products, including personal and commercial banking, wealth management, and investment services, distinguished by its commitment to customer service and innovative solutions. With a strong market position, CIBC has received numerous accolades for its financial performance and customer satisfaction, solidifying its reputation as a trusted partner in the financial sector.
DitchCarbon Score
How does Canadian Imperial Bank Of Commerce's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Canadian Imperial Bank Of Commerce's score of 41 is higher than 93% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Canadian Imperial Bank Of Commerce's reported carbon emissions
In 2023, the Canadian Imperial Bank of Commerce (CIBC) reported total carbon emissions of approximately 71,031,000 kg CO2e. This figure includes 48,366,000 kg CO2e from Scope 1 emissions, which are direct emissions from owned or controlled sources, and 15,913,400 kg CO2e from Scope 2 emissions, which are indirect emissions from the generation of purchased electricity. Additionally, CIBC's Scope 3 emissions, which encompass all other indirect emissions, amounted to 207,500,000 kg CO2e. Over the years, CIBC has demonstrated a commitment to reducing its carbon footprint. In 2022, the bank's total emissions were about 67,531,000 kg CO2e, indicating a slight increase in 2023. The bank has not disclosed specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other formal climate pledges, suggesting a need for clearer commitments in the context of global climate action. CIBC's emissions intensity, measured in terms of revenue, has shown variability, with a reported intensity of 0.0135 kg CO2e per dollar of revenue in 2023. The bank's ongoing efforts to monitor and report its emissions reflect an awareness of the importance of sustainability in the financial sector, although further clarity on reduction strategies would enhance its environmental accountability.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 61,215,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 240,919,000 | 00,000,000 | 00,000,000 | 0,000,000 | 000,000,000 |
| Scope 3 | 302,134,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Canadian Imperial Bank Of Commerce is not committed to any reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
