ESG oversight mandates The mandates of the Board and its Committees reflect specific responsibilities related to relevant ESG factors.
Committee ESG mandate
2023 highlights
Board of Directors
Responsibilities include oversight of our strategy, risk appetite and culture. Oversees our climate strategy, our enterprise approach to social matters, and our governance structure, as well as related ESG reporting.
• Received reporting on sustainability topics, including: – updates to our Sustainability Roadmap, including our evolving approach to climate change; – operational Scope 1 and 2 emissions and progress on estimation of financed Scope 3 GHG emissions; – current and emerging trends related to climate change, which could impact our business or the businesses of our clients; – the evolving regulatory and government policy landscape and potential downstream impacts; and, – stakeholders focus and engagement. • Reviewed our 2022 Sustainability Report. • Received educational material focused on Scope 3 GHG emissions. • Reviewed and recommended Board approval of the Enterprise Risk Management policy, which was updated in 2022 to include social and environmental risk in our risk universe. • Received quarterly reporting on emerged and emerging risks, including climate risk. • Reviewed management’s planned approach to continue to enhance CWB’s ESG disclosures and reporting. • Reviewed and recommended Board approval of climate disclosures in the Social and Environmental Risk section of our 2023 MD&A. • Reviewed the Environmental Protection and Social Responsibility section of our 2023 AIF. • Reviewed CWB’s Great Place to Work Canada ® engagement and trust survey results and management’s action plan. • Reviewed CWB’s updated hybrid work approach and requirements. • Reviewed CWB’s transition to a new flexible benefits program for all employees. • Reviewed progress and plans with respect to employment equity, diversity and inclusion. • Reviewed employment and workplace federal and provincial legislative developments and management’s compliance plans, including CWB’s plans and progress towards compliance with 2024 federal pay equity requirements. • Reviewed Board composition, diversity, and director succession planning. • Received educational material focused on Corporate Governance matters.
Risk Committee
Oversees our approach to principal risks and the continued integration of material social and environmental risk factors within the Risk Management framework. Oversees our financial reporting, including disclosures related to material ESG factors incorporated into the annual financial statements, annual Management’s Discussion and Analysis (MD&A) and Annual Information Form (AIF). Oversees our human capital management strategy and aspects of workplace culture, including diversity, equity and inclusion, and employee health, safety and well-being.
Audit Committee
HR Committee
GCR Committee
Oversees our corporate governance policies, practices and standards that promote ethical conduct throughout our organization as well as the allocation of sustainability oversight across the Committees.
14 2023 SUSTAINABILITY REPORT AND PUBLIC ACCOUNTABILITY STATEMENT
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