CIBC becomes a registered observer of Green Bond Principles
TORONTO, Sept. 22, 2014 /CNW/ - CIBC World Markets Inc., the wholesale
banking arm of CIBC, (TSX: CM) (NYSE: CM) announced today that it has
become a registered observer of the Green Bond Principles (GBP), a set
of voluntary guidelines designed to promote integrity in the green bond
market where capital is raised to fund projects with environmental
benefits.
Launched earlier this year by the International Capital Markets
Association or ICMA, the GBP initiative provides transparency and
disclosure guidance for bond issuers and underwriters when launching
green offerings.  It is also designed to ensure investors have the
information necessary to evaluate the environmental impact of green
bond investment opportunities - from how projects funded from green
bonds are evaluated and selected to how bond proceeds are used and
monitored.
"The green bond market is growing at a tremendous pace with global
issuance for the first half of 2014 reaching approximately $20 billion,
almost double the total for last year," says Susan Rimmer, managing
director and head of debt underwriting for CIBC's corporate and
financial institution clients.  "As green bonds increase in popularity
among issuers and investors, confidence in the market is essential to
ensuring that funding continues to grow and be available for credible
projects. Â We are pleased to support this effort with our clients and
industry partners."
Ms. Rimmer adds that CIBC's support for the GBP initiative underscores
the bank's commitment to financing new and innovative projects that
contribute to cleaner, alternative or renewable energy supplies,
including biogas, biomass, district energy systems, hydroelectric,
geothermal, solar and wind.
More information about the ICMA green bonds initiative is available here.
CIBC is a leading Canadian-based global financial institution with
nearly 11 million personal banking and business clients and three
major business units - Retail and Business Banking, Wealth Management
and Wholesale Banking. CIBC's wholesale banking business provides
integrated credit and capital markets products, investment banking
advisory services and top-ranked research to corporate, government and
institutional clients around the world. Visit www.cibcwm.com for Wholesale Banking news releases and information. You can find other
news releases and information about CIBC in our Media Centre on our
corporate website at www.cibc.com.
SOURCE CIBC World Markets
For further information:
Tom Wallis, Communications and Public Affairs at 416-980-4048, tom.wallis@cibc.ca