Manage our impact responsibly
Table of Contents
Maintain a foundation of trust
Obsessed with your success
Supplemental reporting
Appendices and Glossary
Overview
2023 Climate Metrics
Metric
Unit of measure
2023
2022
Data quality score (9)
Energy consumption Direct energy use (Scope 1) (1)
40,062
42,037
Gigajoules (GJ)
36,331
35,160
Indirect energy use (Scope 2) (2)
GJ
GHG emissions Scope 1 (3)
2,229
2,339 (5)
Tonnes of carbon dioxide equivalent (tCO 2 e)
3,571
3,614 (5)
Scope 2 (3)(4)
5,800
5,953
Total Scope 1 and 2
0.088
0.089
Scope 1 and 2 emissions intensity (6)
tCO
2 e/square metre of space occupied
794
N/A
Scope 3, Category 6, Business travel
tCO 2 e
(11)
Scope 3, Category 15, Investments (financed emissions) (7) Residential Mortgages (8)
-
59,516
4.1
tCO
2 e
-
$6.0
Portfolio balance ($billion CAD)
-
47,476
1.7
Oil and Gas Extraction (10)
tCO
2 e
-
$0.3
Portfolio balance ($billion CAD)
KPMG provided limited assurance of this figure. Refer to page 85 for KPMG’s 2023 Independent Limited Assurance Report.
(1) Includes natural gas used to heat the spaces we occupy, and diesel used within back-up generators, where applicable. (2) Includes electricity and steam used within the spaces we occupy. (3) Our GHG inventory is prepared by a third-party consulting firm in accordance with the Greenhouse Gas Protocol.
• We use the operational control approach to define our organizational boundary. As per the Greenhouse Gas Protocol, under the operational control approach, a company accounts for 100% of the GHG emissions from operations over which it can introduce operating decisions, which includes all owned and leased spaces occupied by Canadian Western Bank and its subsidiaries. • In 2023, we shifted the time period of our emissions calculations. GHG emission reported for 2023 reflect October 1, 2022 through September 30, 2023, and for 2022 reflect November 1, 2021 through October 31, 2022. We did not restate 2022 baseline, which is calculated using fiscal year. All results reflect 12 months of operations and are comparable. • Greenhouse gases included in the inventory are CO 2 , CH 4 , N 2 O, and HFCs. • Electricity, natural gas and diesel emissions factors were obtained from the National Inventory Report 1990-2021: Greenhouse Gas Sources and Sinks Canada, Environment and Climate Change Canada. Emissions factors were chosen based on latest available non-preliminary factors at the time of calculation for each year. Steam emissions factors were obtained from the most recent U.S. Environment Protection Agency Emission Factors for Greenhouse Gas Inventories, for each year. Refrigerant emissions were estimated based on the Environmental Protection Agency (EPA) HFC Emissions Accounting Tool (Simplified Screening 2 Approach), using global warming potentials from the IPCC Fifth Assessment Report, 2014 (AR5). • To determine energy consumption used to estimate our GHG emissions, we relied upon utilities invoices, where possible, and landlord provided information for certain locations. There were cases where data inputs were incomplete or unavailable, such as utility usage data at a specific location for a particular period. Where required, we used estimation techniques to approximate utility usage, including extrapolation of existing consumption data to cover incomplete periods, as well as energy use intensity (EUI) data from facilities of a similar profile and location. (4) We report our Scope 2 GHG emissions using both market-based and location-based methods. Based on our current operations, the results for the location-based and market-based methods are equivalent. (5) KPMG previously provided assurance over our baseline 2022 Scope 1 and Scope 2 emissions. KPMG’s assurance opinion on our 2022 baseline can be found in page 74 of our 2022 Sustainability Report . In 2023, KPMG was not engaged to perform assurance procedures on our baseline 2022 Scope 1 and Scope 2 emissions and therefore have not expressed a conclusion on this information in 2023. (6) Total Scope 1 and 2 emissions per square metre of banking centre and corporate office space occupied throughout the year. (7) Reflects the share allocated to CWB of client Scope 1 and Scope 2 GHG emissions using the PCAF Global GHG Accounting and Reporting Standard, for our portfolio as-at October 31, 2022. (8) Reflects the gross balance of mortgages and loans to retail customers for the purpose of purchasing residential real estate. (9) Data quality scores represent the weighted average of data quality scores for each loan based on PCAF data quality score tables for each asset class (score 1 = highest data quality; score 5 = lowest data quality). (10) Reflects the gross balance of loans to entities in the Oil & Gas extraction industry as per North American Industry Classification System (NAICS) codes. Includes lending under both Business Loans and Motor Vehicle Loans asset classes as defined by PCAF. (11) Not reported in 2022.
69 2023 SUSTAINABILITY REPORT AND PUBLIC ACCOUNTABILITY STATEMENT
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