Reporting – Canadian Imperial Bank of Commerce (CIBC) (2019 – 2020)

Adoption Date:3 December 2003
Country of Headquarters:Canada
Region of Headquarters:North America
Institutional Reporting Hyperlink:https://www.cibc.com/content/dam/about_cibc/corporate_responsibility/pdfs/cibc-esg-2020-en.pdf
Current EPFI Reporting Year/Period:1 November 2019 - 31 October 2020
EPFI Reporting in Compliance:Yes

Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the Equator Principles Association website.

Further information on this EPFI may be obtained through the Institutional Reporting Hyperlink above.

PROJECT FINANCE ADVISORY SERVICES

Total number mandated in the reporting period: 0

PROJECT FINANCE TRANSACTIONS

Total number that reached financial close in the reporting period: 9

Totals090
Totals090
SectorCategory ACategory BCategory C
Mining
Infrastructure1
Oil & Gas2
Power6
Others
RegionCategory ACategory BCategory C
Americas8
Europe, Middle East & Africa1
Asia Pacific
Country DesignationCategory ACategory BCategory C
Designated19
Non-Designated
Independent ReviewCategory ACategory BCategory C
Yes9
No

1Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment. For the list of Designated Countries, go to: https://www.equator-principles.com/index.php/ep3/designated-countries

PROJECT NAME REPORTING FOR PROJECT FINANCE TRANSACTIONS (NOVEMBER 2019 – OCTOBER 2020)

No.Project NameSectorHost Country Name/ Project LocationYear of Financial Close
1Project Keane II (K2)PowerIreland2019
2Sugar Creek Wind Subco, LLCPowerUSA2020
3Maverick Creek Wind Holdings, LLCPowerUSA2020
4Hunter Solar, LLCPowerUSA2020
5Coastal GasLink Pipeline Limited PartnershipOil & GasCanada2020
6Highway 104 Sutherlands River to Antigonish Twinning ProjectInfrastructureCanada2020
7(DESRI Illinois Portfolio) Prairie State Solar, LLC and Dressor Plains Solar, LLCPowerUSA2020
8(DESRI Louisiana Portfolio) Iris Solar, LLC and St. James Solar, LLCPowerUSA2020

1 project was not disclosed as per the disclosure conditions specified in Annex B of the Equator Principles

PROJECT-RELATED CORPORATE LOANS

Total number that reached financial close in the reporting period: 0

IMPLEMENTATION OF THE EQUATOR PRINCIPLES

Implementation Reporting

– Mandate of Equator Principles (EP) Reviewers: Equator Principles applicable projects are reviewed by CIBC’s Environmental Credit Risk Management (ECRM) staff to ensure compliance with the Equator Principles.

– Respective roles of EP Reviewers, business lines, and senior management in transaction review process: CIBC has specific processes in place for all transactions. EP compliance, where applicable, is included in these processes (e.g., see above point)

– Incorporation of EPs in credit risk management policies and procedures: EPs are included in our environmental due diligence requirements, which have been in place since 2007 in the form of a set of Standards and Procedures that apply globally.

CIBC’s ECRM group provides training, guidance and review on EP implementation across the bank. ECRM completes training across the bank to both lending and risk adjudication groups, and has provided updated guidance as appropriate with respect to adoption of “EP4” in 2020. This training includes implementation of the Equator Principles.

All EP applicable transactions are reviewed by ECRM group staff. In fiscal year ended October 31, 2020, we financed 9 projects where the Equator Principles were applicable and that reached Financial Close.