CIBC issues inaugural Green Bond

CIBC Press Release | Oct 20, 2020

Green bonds - CIBC issues inaugural Green BondBond will help finance assets, businesses and projects that shape a more sustainable economy

TORONTO, Oct. 19, 2020 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today a USD$500 million, five-year green bond to help finance new and existing green projects, assets, and businesses that mitigate the risks and effects of climate change, including: renewable energy, green buildings, clean transportation, natural resource conservation, biodiversity conservation, energy efficiency, and pollution prevention and control.

"As a leading renewables financer and advisor in North America, we are proud to help mobilize capital and develop market-based solutions to support investments that shape a more sustainable future," said Roman Dubczak, Managing Director and Head, Global Investment Banking, CIBC Capital Markets.

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"Our clients are increasingly investing in the sustainability of their operations, and our green bond issuance supports these efforts while meeting the growing demand for environmentally responsible investments."

This marks the bank's inaugural green bond issued under CIBC's Green Bond Framework. The Framework is in line with International Capital Market Association (ICMA) Green Bond Principles 2018 and has been reviewed by Sustainalytics, an independent provider and global leader in environmental, social and governance research, analysis and services to investors.

As the demand for environmentally responsible investments increases, CIBC is committed to being a leader in environmental stewardship and sustainable financing, supporting clients in growing the lower carbon economy, and taking action to address environmental and social issues.

"Our bank recognizes the positive role that financial institutions can play in supporting a greener future," said Peter Levitt, Executive Vice President and Treasurer, CIBC. "We are committed to enabling sustainable growth in our economy, and today's green bond issuance is another step in support of this objective."

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