Obsessed with your success
Table of Contents
Maintain a foundation of trust
Manage our impact responsibly
Supplemental reporting
Appendices and Glossary
Overview
Sustainable finance and products
As a bank, we can activate social and environmental progress by mobilizing capital and financial services. We recognize that sustainable finance represents a growth opportunity for our business and our clients that can also create positive outcomes for our communities and investors.
We are committed to determining how we can best support our clients, particularly small- and medium-sized businesses, to achieve their sustainability goals, in alignment with our growth strategy and prudent risk appetite. Mobilizing sustainable finance products can also support our ability to reduce GHG emissions associated with our lending portfolio by supporting our clients as they lower their own carbon footprint. We have also observed market demand for sustainable finance products, such as sustainable bonds, from investors. A key element of developing our approach to sustainable finance is to understand the climate impact of our current portfolio. To do this, we are taking a phased approach to estimating our financed emissions, or the indirect GHG emissions associated with our lending portfolio. For further information on this work, including disclosure of our initial estimates for residential mortgages and lending to clients in oil and gas extraction sectors, please see the Climate related disclosures section of this report. We believe the steps we are taking to advance our approach to sustainability, including climate change, are foundational to our ability to create lasting success for our business and our stakeholders. As we move forward, we are committed to enhancing our sustainable finance expertise and capabilities and providing our clients with product offerings, advisory services and financing products that support their sustainability goals.
RESPONSIBLE WEALTH MANAGEMENT PRACTICES
STAYING INFORMED
Our CFO is a member of the Sustainable Finance Action Council (SFAC), which was established in May 2021 and is responsible to make recommendations on the critical market infrastructure needed to attract and scale sustainable finance in Canada through disclosure of climate risks and opportunities, better access to climate data and analytics and a standardized climate risk taxonomy within the context of Canada’s capital markets. The current mandate of the Action Council will be complete on March 31, 2024.
CWB Wealth is committed to responsible investing. In 2022, CWB Wealth became a signatory to the Principles for Responsible Investing (PRI) and is currently formalizing an approach to integrate ESG factors into investment analysis and decision-making processes. We will report to PRI on our 2023 activities during the 2024 reporting cycle.
53 2023 SUSTAINABILITY REPORT AND PUBLIC ACCOUNTABILITY STATEMENT
Powered by FlippingBook