|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|
Reporting – Canadian Imperial Bank of Commerce (CIBC) (2019 – 2020)
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
Totals 0 9 0
Totals 0 9 0
Sector Category A Category B Category C
Mining Infrastructure 1 Oil & Gas 2 Power 6 Others Region Category A Category B Category C
Americas 8 Europe, Middle East & Africa 1 Asia Pacific Country Designation Category A Category B Category C
Designated1 9 Non-Designated Independent Review Category A Category B Category C
Yes 9 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 Name Sector Host Country Name/ Project Location Year of Financial Close
1 Project Keane II (K2) Power Ireland 2019
2 Sugar Creek Wind Subco, LLC Power USA 2020
3 Maverick Creek Wind Holdings, LLC Power USA 2020
4 Hunter Solar, LLC Power USA 2020
5 Coastal GasLink Pipeline Limited Partnership Oil & Gas Canada 2020
6 Highway 104 Sutherlands River to Antigonish Twinning Project Infrastructure Canada 2020
7 (DESRI Illinois Portfolio) Prairie State Solar, LLC and Dressor Plains Solar, LLC Power USA 2020
8 (DESRI Louisiana Portfolio) Iris Solar, LLC and St. James Solar, LLC Power USA 2020
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
– 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.