Canadian Imperial Bank of Commerce (CIBC)
Risk Level:
Summary:
Canadian Imperial Bank of Commerce (CIBC) has not terminated business relationships due to religious or political beliefs. The bank permits donations to faith-based charities. However, CIBC has begun to further emphasize ESG in its investing and hiring practices in recent years, and the bank has begun to fund abortion-related travel expenses for its American employees after the overturning of Roe v. Wade. It also remains to be seen if any CIBC clients had their accounts frozen due to participation in the February 2022 vaccine mandate protests in Ottawa. For these reasons, CIBC receives a "Medium Risk" rating.
Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.
Canadian banks were ordered to freeze accounts of vaccine mandate protestors in February 2022. It remains to be seen if any CIBC clients had their assets frozen.
Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.
Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.
CIBC does not explicitly protect against viewpoint discrimination, but its code of conduct does include “respect for individual political beliefs” (1).
Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.
CIBC has instituted sweeping ESG reforms, including environmental changes, initiatives to further emphasize race in hiring, and mandatory diversity training for employees (1).
Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.
After the Supreme Court decided to overturn Roe v. Wade, CIBC announced that it would expand its benefits to cover abortion-related travel costs for its American employees (1).
Uses corporate political contributions for ideological, non-business purposes.
CIBC has not used its PAC for ideological purposes (1).
All links were last accessed and all information was updated on:
March 27, 2023
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