CIBC's fifth time on the list since its inception in 2002
TORONTO, June 23 /CNW/ - CIBC (CM: TSX;NYSE) is proud to announce that,
for the fifth time since 2002, Corporate Knights has named the bank to its
2009 Best 50 Corporate Citizens list. Corporate Knights Inc. is an independent
Canadian-based media company focused on promoting and reinforcing sustainable
development in Canada. The Best 50 Corporate Citizens ranks Canada's largest
and most influential companies on corporate sustainability initiatives and
responsible business practices, specifically reviewing environmental, social
and governance measures.
"We're pleased to be included once again in Corporate Knights' list of
top corporate citizens," said Stephen Forbes, CIBC's Executive Vice-President,
Marketing, Communications and Public Affairs. "At CIBC, we are committed to
providing accessible, affordable banking to our diverse clients, ensuring
strong corporate governance, making a difference in our communities, and being
an environmentally responsible organization. This recognition validates our
ongoing efforts to deliver on these commitments to all of our stakeholders -
clients, employees, investors and our communities."
CIBC compared favourably to its peer financial institutions for
Aboriginal banking, the quality of services the bank provides to First
Nations, Inuit and Métis, and for the holistic, integrated approach CIBC has
to building relationships with Aboriginal communities.
CIBC also did well against its peers in the key performance indicator of
sustainable assets under management. CIBC World Markets Inc. has been an
equity underwriter of energy technology companies for several years.
Additionally, CIBC's wholesale bank has been at the forefront of financing
renewable energy projects (including hydroelectric, wind, biomass, biogas and
district energy systems), having raised or extended over $3 billion in capital
for renewable energy developers since 2002.
According to Corporate Knights, "The goal of the Best 50 Corporate
Citizens in Canada ranking is to assemble a body of data that can distinguish
laggards from leaders and allow financial markets to better integrate valid
corporate social and environmental performance metrics into their standard
valuations."(1) Corporate Knights methodology is reviewed externally and
calibrates a broad range of metrics.
In addition to inclusion on this year's Best 50 Corporate Citizens list,
in 2008 CIBC was recognized by several other prominent lists and indexes for
its sustainability and corporate social responsibility. Last year, CIBC was:
- Selected as a component of the Dow Jones Sustainability Index for the
seventh consecutive year;
- Included as a member of the Jantzi Social Index since its inception
- Included on the FTSE4Good Index since it began in 2001, highlighting
companies that demonstrate exceptional corporate responsibility
- Recognized by the Conference Board of Canada's Carbon Disclosure
Project as a Carbon Disclosure Leader for our approach to climate
change disclosure; and
- Scored among the highest in the global banking sector for corporate
governance quality by Governance Metrics International.
About Corporate Knights, Inc.
Corporate Knights is an independent Canadian-based media company that
publishes the world's largest circulation magazine with an explicit focus on
responsible business. The mission of Corporate Knights Inc. is to humanize the
marketplace. Corporate Knights publishes the annual "Best 50 Corporate
Citizens in Canada" and the annual "Global 100 Most Sustainable Corporations
in the World."
CIBC is a leading North American financial institution with nearly 11
million personal banking and business clients. CIBC offers a full range of
products and services through its comprehensive electronic banking network,
branches and offices across Canada, in the United States and around the world.
You can find other news releases and information about CIBC in our Press
Centre on our corporate website at www.cibc.com.
(1) "Toward the Holy Grail: Putting a number on corporate
sustainability," Best 50 Corporate Citizens White Paper, Corporate
For further information:
For further information: Doug Maybee, Director, External Communications
and Media Relations, CIBC, Tel: (416) 980-7458, firstname.lastname@example.org