Message from the President and Chief Executive Officer
Victor G. Dodig

2017 marked 150 years of our bank helping people, businesses and communities grow and prosper.

Over the last year, we continued to move towards building a relationship-oriented bank by relentlessly focusing on our clients, innovating to meet their needs, and simplifying the way we do business. This focus has transformed our bank by continuing to evolve the client experience and creating value for our stakeholders.

This 2017 Corporate Responsibility Report and Public Accountability Statement highlights the five environmental, social and governance (ESG) areas that are most important to both CIBC and our stakeholders.

Our benchmarks for measuring progress are the international indices that assess corporate ESG performance including Dow Jones Sustainability Index, FTSE4Good and Jantzi Social Index. We are proud to be longstanding constituents of each of these indices.

Proud to be CIBC
CIBC was recognized as one of:

The Global 100 Most Sustainable Corporations by Corporate Knights

Canada’s Best Diversity Employers 2017 Logo

Canada’s Best Diversity Employers by Mediacorp

Achiever’s 50 Most Engaged Workplaces 2017 Logo

Achievers 50 Most Engaged Workplaces™ in North America

In 2018, we will remain focused on our clients and on building value for all stakeholders as we continue down the path of building a relationship-oriented franchise for a modern world.


Victor G. Dodig
CIBC President and Chief Executive Officer

In our annual employee giving campaign, Team CIBC raised more than $15.4 million for United Way and other charities, as well as raising $7 million for CIBC Miracle Day.

CIBC employees volunteering in the community CIBC employees volunteering in the community
Employees at CIBC Run for the Cure Employees at CIBC Run for the Cure

The 2017 Canadian Cancer Society CIBC Run for the Cure raised $17 million, including $3 million from Team CIBC.

CIBC employees with large, Run for the Cure pink ribbon CIBC employees with large, Run for the Cure pink ribbon

Material Topics

Client Experience

We recognize that the long-term success and viability of our bank is closely linked to the confidence and trust of our clients. We aim to build deep and enduring client relationships by putting our clients at the centre of everything that we do. Every day, our 45,000 team members are focused on bringing to life our vision of being the leader in client relationships.

Responsible Banking

We aspire to be a leader in environmental performance. Responsible banking delineates how our business objectives and environmental responsibilities are connected.

Engaging Employees

As one team, we are all working towards the shared goal of putting our clients at the heart of everything that we do. We have a strong, supportive culture of doing what's right for our clients, and each other. We're an inclusive community, where all of our team members can thrive and excel.

Community Investment

CIBC is committed to making a significant and lasting contribution to the well-being of communities where we live and work. For us, giving back and supporting initiatives that make communities stronger is how we do business.

Governance and Integrity

Strong governance provides a framework for accountable and responsible business practices and is the foundation to creating sustainable stakeholder value. Our bank is committed to leadership in governance and we live our values of Trust, Teamwork and Accountability through the work that we do every day.

Our Commitment

Our commitment to corporate social responsibility is rooted in our vision and values, and informs our day-to-day operations and business practices.

CIBC is a leading Canadian-based global financial institution with a market capitalization of $50 billion. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets – our 45,000 employees provide a full range of financial products and services to 11 million personal banking, business, public sector and institutional clients in Canada, the United States and around the world.

Our Strategy

At CIBC, we are building a relationship-focused bank that puts our clients at the centre of everything we do and delivers growth to our shareholders.

In 2017, our integrated bank-wide priorities were the key drivers accelerating our transformation:

1. Focusing on our clients

2. Innovating for the future

3. Simplifying our bank

Our Vison and Values

Our vision is to be the leader in client relationships. We are building the most trusting and enduring client relationships by putting our clients at the centre of all that we do. Our vision comes to life through our core values of Trust, Teamwork and Accountability. Our values are an intrinsic part of the work that we do every day and in every interaction with our stakeholders.

Balanced Scorecard

We recognize that the long-term success and viability of CIBC is closely linked to the confidence and trust that all of our stakeholders have in us. We report on our corporate responsibility performance using the Global Reporting Initiative Sustainability Reporting guidelines.

Our Balanced Scorecard tracks our progress against both financial and non-financial measures.

Stakeholder Engagement

At CIBC, stakeholder engagement is critical to how we conduct our business.

We use a variety of methods to strengthen stakeholder relationships. These include gathering feedback and gauging the perceptions of our stakeholders to ensure we are meeting their evolving needs and expectations. We use this feedback to inform how we run our business.

Throughout 2017, our clients, employees, shareholders and investors, governments and regulators, non-governmental organizations (NGOs) and interest groups, community partners, and suppliers helped us on a number of important issues.

Table that summarizes CIBC’s engagement with clients, employees, shareholders, government, NGOs, community partners and suppliers.

Economic Value

CIBC is a major contributor to the Canadian economy and to the communities in which we work and live.

photo CIBC representative in banking centre photo CIBC representative in banking centre

At CIBC, we create economic value by helping our clients grow and prosper, as well as providing employment opportunities, purchasing local goods and services, supporting small businesses, and investing in social issues that matter.

CIBC’s business strategy has been to build a relationship-focused bank by putting our clients first, innovating for the future and simplifying our bank to make it easier to do business with us. We have a track record of delivering sustainable financial results, which is the foundation for our ability to deliver economic value to our stakeholders.

Our approach to creating economic value is rooted in how we manage:

  • Our business, including how we deliver value to our clients;
  • Our workforce and our suppliers; and
  • Our contribution to the communities in which we work and live.

As a member of the financial services industry, CIBC is committed to ensuring our business complies with tax obligations in all markets where we do business. In response to new legislation in the United Kingdom, CIBC has published its U.K. Tax Risk Management Strategy.

Learn more

artist’s illustration of CIBC Square artist’s illustration of CIBC Square

CIBC Square, our new global headquarters coming to downtown Toronto, is expected to create more than 4,000 construction-related jobs over the seven-year development of the complex.

Canadian Public Accountability Statement

All federally regulated financial institutions in Canada with equity greater than $1 billion are required to publish annual public accountability statements outlining their contributions to the Canadian economy and society. Our previous Public Accountability Statement was included in the CIBC 2016 Corporate Responsibility Report and Public Accountability Statement. Our current and previous reports are available for download and printing here.

Our Affiliates

This Corporate Responsibility Report and Public Accountability Statement has been published by CIBC and the following affiliates of CIBC: CIBC World Markets Inc.; CIBC Mortgages Inc.; CIBC Life Insurance Company Limited; CIBC Trust Corporation; CIBC Securities Inc.; CIBC Investor Services Inc.; CIBC Asset Management Inc.; CIBC BA Limited; Atlantic Trust Company, N.A.; AT Investment Advisers, Inc.

Trademarks

Trademarks used in this 2017 Corporate Responsibility Report and Public Accountability Statement which are owned by Canadian Imperial Bank of Commerce, or one of its wholly-owned subsidiaries, in Canada and/or other countries include: CIBC; CIBC CUBE DESIGN AND “BANKING THAT FITS YOUR LIFE”; “CIBC MIRACLE DAY HELPING KIDS RISE ABOVE” & DESIGN; CIBC 60 PLUS ADVANTAGE; CIBC ADVANTAGE; CIBC ASSET MANAGEMENT; CIBC BUSINESS BANKING; CIBC CAPITAL MARKETS; CIBC CHILDREN’S FOUNDATION; CIBC CREDITSMART; CIBC EVERYDAY; CIBC FOREIGN CASH ONLINE; CIBC GLOBAL MONEY TRANSFER; CIBC HELLO HOME; CIBC HOMEOWNER; CIBC INVESTOR’S EDGE; CIBC MIRACLE DAY; CIBC MOBILE BANKING; CIBC ONLINE BANKING; CIBC PRIVATE WEALTH MANAGEMENT; ATLANTIC TRUST; IMPERIAL INVESTOR SERVICE; PROFESSIONAL EDGE; SIMPLII FINANCIAL and WOOD GUNDY.

® President’s Choice Financial is a registered trademark of Loblaws Inc. CIBC is a licensee of the mark.

All other trademarks mentioned in this 2017 Corporate Responsibility Report and Public Accountability Statement, which are not owned by Canadian Imperial Bank of Commerce or its subsidiaries, are the property of their respective owners.

About this Report

The CIBC Corporate Responsibility Report and Public Accountability Statement provides an overview of CIBC’s environmental, social and governance commitments to our communities where we do business.

Contact Us

Corporate Secretary

Email: corporate.secretary@cibc.com
Call: 416-980-3096

Corporate Responsibility

Email: corporateresponsibility@cibc.com