New Limited Partnership investments in climate
tech and energy transition funds
TORONTO, Dec. 20, 2021 /CNW/ - CIBC today announced a new
$100 million commitment in Limited
Partnership (LP) investments dedicated to investing in key climate
tech and energy transition funds.
Advancing its contribution to enable a more sustainable future,
CIBC will make new LP investments in low carbon and climate tech
funds, driving the development of new climate innovations.
"With new and intensifying environmental challenges, we believe
our bank has an important role to play in supporting the
acceleration of climate action through innovation across
North America," said Harry Culham, Group Head, CIBC Capital Markets.
"These investments are another way we're driving growth into new
areas of the economy while helping to foster long-term
sustainability."
CIBC has deep experience sourcing attractive LP relationships
through its Leveraged Finance, Private Capital and Innovation
Banking teams. Building on its Energy Transition and Sustainable
Finance expertise, and strong history of taking action across
environmental, social and governance (ESG) priorities, CIBC is
helping to enable a more secure, equitable and sustainable
future.
This $100 million LP investment is
in addition to CIBC's $450 million
for funds focused on the venture capital and growth equity
sectors.
About CIBC
CIBC is a leading North American financial institution with 11
million personal banking, business, public sector and institutional
clients. Across Personal and Small Business Banking, Commercial
Banking and Wealth Management, and Capital Markets businesses, CIBC
offers a full range of advice, solutions and services through its
leading digital banking network, and locations
across Canada, in the United States and around the
world. Ongoing news releases and more information about CIBC can be
found at www.cibc.com/ca/media-centre.
SOURCE CIBC