In 2024, 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 4 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 19,410a | 21,321a | 22,157a | |
Total Scope 2 | ||||
Market-Based | 1,631a | 1,885a | 5,139a | |
Location-Based | 24,344a | 25,713a | 27,608a | |
Total Scope 3 | 19,969a | 79,418,997a | 89,968,766a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 1.0586a | 1.269a | 1.3872a |
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In 2024, the total operational greenhouse gas (GHG) emissions of CIBC amounted to 43,754 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 2023, the total operational greenhouse gas (GHG) emissions of CIBC decreased by 6.97%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of CIBC were 19,410 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, CIBC's Scope 1 emissions have decreased by 21.5%, reflecting a declining long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2023), CIBC's Scope 1 emissions decreased by 8.96%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, CIBC reported Scope 2 greenhouse gas (GHG) emissions of 1,631 tCO₂e using the market-based method and 24,344 tCO₂e using the location-based method.a
Since 2019, CIBC's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 34.9%, reflecting a declining long-term trend in Scope 2 emissions over time.a
Compared to the previous year (2023), 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
In 2024, CIBC reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, CIBC reported 19,969 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 2024 disclosure of CIBC includes a breakdown across 3 of the 15 Scope 3 categories defined by the GHG Protocol, down from 4 in 2023, indicating a decline in reporting granularity and reduced insight into the company's full value chain emissions.a
In 2024, CIBC reported total Scope 3 emissions of 19,969 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 54.94% of these emissions originated from upstream activities such as purchased goods and capital goods, while 45.06% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, CIBC's Scope 3 emissions have decreased by 30.43%, reflecting a declining long-term trend in Scope 3 emissions over time.ab
Compared to the previous year (2023), CIBC's Scope 3 emissions decreased by 99.97%, highlighting the company's efforts to lower indirect emissions from its value chain.a
In 2024, 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.
In 2024, the largest contributors to CIBC's Scope 3 emissions were:a
In 2024, CIBC reported Scope 1 greenhouse gas (GHG) emissions of 19,410 tCO₂e and total revenues of USD 18,336 millions. This translates into an emissions intensity of 1.06 tCO₂e per millions USD.a
In 2024, CIBC reported a Scope 1 emissions intensity of 1.06 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
In 2024, CIBC ranked 24 out of 25 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
In 2024, CIBC reported a total carbon footprint of 63,723 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 99.92% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to CIBC's total carbon footprint was Scope 2 emissions, accounting for 38.2% of the company's total carbon footprint, followed by Scope 3 emissions at 31.34%.a