Canadian Imperial Bank of Commerce
CIBC's GHG Emissions Data Preview
In 2023, CIBC completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
CIBC has also provided a category-level breakdown for 3 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2023 | 2022 | 2021 | 2020 - 2017 |
|---|---|---|---|---|
Total Scope 1 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 2 | ||||
Market-Based | Copy restricted. Please purchase to unlock this data.  b | Copy restricted. Please purchase to unlock this data.  b | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Location-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 3 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 1 Revenue Intensity (tCO2e/$M) | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
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aVerified Sources Behind CIBC’s Greenhouse Gas (GHG) Emissions Data
Every figure on this dashboard has a transparent audit trail. With Tracenable, each data point is traceable back to its original source, viewable directly inside our platform. Explore CIBC’s data sources below and access millions more through our Disclosure Search.
Insights into CIBC's Operational Emissions
In 2023, the total operational greenhouse gas (GHG) emissions of CIBC amounted to 47,034 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2). a
Compared to 2022, the total operational greenhouse gas (GHG) emissions of CIBC decreased by 5.49%, showing that the company has made progress in taking action to reduce the climate impact of its operations. a
CIBC's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are CIBC's Scope 1 emissions?
In 2023, the total Scope 1 emissions of CIBC were 21,321 metric tons of CO₂ equivalent (tCO₂e). a
Has CIBC reduced its Scope 1 emissions over time?
Since 2018, CIBC's Scope 1 emissions have decreased by 9.17%, reflecting a declining long-term trend in Scope 1 emissions over time. a
Compared to the previous year (2022), CIBC's Scope 1 emissions decreased by 3.77%, highlighting the company's efforts to lower direct emissions from assets it owns or controls. a
What are CIBC's Scope 2 emissions?
In 2023, CIBC reported Scope 2 greenhouse gas (GHG) emissions of 1,885 tCO₂e using the market-based method and 25,713 tCO₂e using the location-based method. a b
Has CIBC reduced its Scope 2 emissions over time?
Since 2018, CIBC's Scope 2 greenhouse gas (GHG) emissions ( Location-Based) have decreased by 36.27%, reflecting a declining long-term trend in Scope 2 emissions over time. a
Compared to the previous year (2022), CIBC's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that CIBC 's emissions have plateaued with no significant change in its energy consumption footprint. a
What methodology does CIBC use for Scope 2 reporting?
In 2023, CIBC reported its Scope 2 emissions using the market-based method and using the location-based method. a b
CIBC's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
- Total Scope 2 Market-Based
Insights into CIBC's Value Chain Emissions
In 2023, CIBC reported 23,997 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain. a
The 2023 disclosure of CIBC includes a breakdown across 3 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2022, demonstrating consistent Scope 3 emissions reporting coverage year over year. a
CIBC's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are CIBC's Scope 3 emissions?
In 2023, CIBC reported total Scope 3 emissions of 23,997 metric tons of CO₂ equivalent (tCO₂e). a
Approximately 61.27% of these emissions originated from upstream activities such as purchased goods and capital goods, while 38.73% came from downstream activities like product use, distribution, and end-of-life treatment. a
Has CIBC reduced its Scope 3 emissions over time?
Since 2018, CIBC's Scope 3 emissions have decreased by 25.48%, reflecting a declining long-term trend in Scope 3 emissions over time. a
Compared to the previous year (2022), CIBC's Scope 3 emissions increased by 35.07%, suggesting that the company faced challenges in reducing emissions across its value chain. a
What categories of Scope 3 emissions does CIBC disclose?
In 2023, CIBC reported emissions for 3 out of the 15 Scope 3 categories defined by the GHG Protocol. a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
What are the main sources of CIBC's Scope 3 emissions?
In 2023, the largest contributors to CIBC's Scope 3 emissions were: a
- Downstream Leased Assets (Cat. 13): 9,294 tCO₂e (38.73%)
- Purchased Goods and Services (Cat. 1): 8,664 tCO₂e (36.1%)
- Business Travel (Cat. 6): 6,039 tCO₂e (25.17%)
CIBC's Scope 3 Emissions by Categories
Insights into CIBC’s GHG Emissions Intensity Compared to Industry Peers
In 2023, CIBC reported Scope 1 greenhouse gas (GHG) emissions of 21,321 tCO₂e and total revenues of USD 16,801 millions. This translates into an emissions intensity of 1.27 tCO₂e per millions USD. a
CIBC's Scope 1 Emissions Intensity Compared to Peers
How does CIBC's GHG emissions intensity compare to its peers?
In 2023, CIBC reported a Scope 1 emissions intensity of 1.27 tCO₂e per millions USD. Compared to the peer group median of 0.56 , this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors. a
Where does CIBC rank on GHG emissions intensity within its industry?
In 2023, CIBC ranked 22 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD). a
This places CIBC among the least efficient performers, with one of the highest emissions intensities in its sector. a
Insights into CIBC's Total Carbon Footprint
In 2023, CIBC reported a total carbon footprint of 71,031 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 5.18% increase compared to 2022, suggesting a rise in emissions across its operations or value chain. a
The largest contributor to CIBC's total carbon footprint was Scope 2 emissions, accounting for 36.2% of the company's total carbon footprint, followed by Scope 3 emissions at 33.78%. a