CIBC Targets Net Zero Greenhouse Gas Emissions By 2050 - Quick Facts

(RTTNews) - Canadian Imperial Bank of Commerce (CM.TO, CM) said the company targets to achieve net zero greenhouse gas emissions by 2050. The company also announced a significant increase in its commitment to mobilizing sustainable finance to a target of $300 billion by 2030.

CIBC said it will be setting interim targets for financed emission reduction, with reporting on key sectors beginning in fiscal 2022. The company will achieve carbon neutrality in its operations as 2024-end. This target includes sourcing 100% of electricity for operations from renewable sources.