CWBFG Annual Report 2023

Our developing approach to climate change

We recognize that we have a part to play in Canada’s transition to net-zero emissions by managing our direct and indirect climate impact, supporting the ongoing success of our clients as they strive to achieve their climate goals and mitigating the risks associated with climate change.

Disclosed our Scope 1 and 2 greenhouse (GHG) emissions across our national operational footprint for the first time in 2023.

Progressed development of a reduction plan and related targets to support Canada’s transition to net-zero emissions, with an initial focus on Scope 1 and 2 GHG emissions from our operations.

Initiated a phased approach to refine the estimation of our Scope 3 financed emissions within targeted areas of our lending portfolio to support future disclosures and emissions reduction planning.

Continued to integrate environmental and social risks into existing risk management processes and policies and progressed readiness activities to support compliance with upcoming climate regulations.

Developed an industry-level heatmap assessment to identify potential physical and transition impacts of climate change within our lending portfolios.

CWB Financial Group 2023 Annual Report | 13

Powered by