.cibc says it aims to cut the emissions intensity of its power generation portfolio by 32 per cent by 2030 in the latest climate target released by a Canadian bank.
Economic, ResourceTORONTO – CIBC says it aims to cut the emissions intensity of its power generation portfolio by 32 per cent by 2030 in the latest climate target released by a Canadian bank.
The emission cut targets are the early steps of the greater goal of achieving net zero emissions in portfolios by 2050, something which all of Canada’s big banks have committed to. “We continue to be encouraged by the commitment we’re seeing from our clients as we work towards enabling a more sustainable and inclusive economy,” said Harry Culham, head of capital markets at CIBC, in a statement.
Intensity reductions mean that the emissions needed to produce say one kilowatt-hour of energy is reduced, but the total amount of emissions produced could still go up as power production rises.
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