Canadian Imperial Bank Of Commerce

Canadian Imperial Bank Of Commerce (CIBC) Climate Performance & Commitments

CIBC, a Canadian financial intermediation services provider, is actively working to reduce its carbon footprint.

For 2025, CIBC's reported emissions are approximately 49 million kg CO2e. This includes Scope 1 emissions of about 19.4 million kg CO2e and Scope 2 (location-based) emissions of roughly 22.5 million kg CO2e. Scope 3 emissions for 2025 include approximately 24.2 billion kg CO2e from investments and 7.1 million kg CO2e from business travel.

In 2024, CIBC reported total emissions of approximately 50 million kg CO2e. This comprised about 19.4 million kg CO2e from Scope 1 emissions (including 8 million kg CO2e from mobile combustion), and around 24.3 million kg CO2e from Scope 2 (location-based) emissions. Scope 3 emissions for 2024 were approximately 2.25 billion kg CO2e, with about 2.36 billion kg CO2e from investments, 6.25 million kg CO2e from business travel, and 84.9 billion kg CO2e from the use of sold products.

For 2023, the bank's total emissions were approximately 53.1 million kg CO2e, with Scope 1 emissions at about 21.3 million kg CO2e (including 9 million kg CO2e from mobile combustion) and Scope 2 (location-based) emissions at around 25.7 million kg CO2e. Scope 3 emissions in 2023 were approximately 2.38 billion kg CO2e, including about 2.56 billion kg CO2e from investments, 6.04 million kg CO2e from business travel, and 96.8 billion kg CO2e from the use of sold products.

CIBC has set a near-term operational GHG reduction target of 30% by 2028 (from a 2018 baseline) for both Scope 1 and Scope 2 emissions. Additionally, the bank aims for carbon neutrality by 2024. For the long term, CIBC has an ambition to achieve net-zero greenhouse gas emissions from its operational and financing activities by 2050 across all scopes.