EDMONTON, AB, March 14,
2022 /CNW/ - Canadian Western Bank (CWB) today
released its inaugural Sustainability Report, demonstrating
continued progress towards providing comprehensive reporting
focused on the environmental, social and governance (ESG) factors
that we identify as material to our business and of greatest
importance to our clients, people, communities and investors. The
Sustainability Report also includes our Public Accountability
Statement.
"Our approach to sustainability is a journey we have embarked on
with purpose, and I'm pleased to share our progress and priorities
within our first-ever Sustainability Report." says Chris Fowler, President and Chief Executive
Officer, CWB Financial Group. "Our momentum is building, and our
approach will remain focused on long-term value creation for all
our stakeholders and supporting a more sustainable future."
Our digital transformation has us well positioned to continue to
meet the evolving needs of our business owner clients. As we look
forward, we will explore greater integration of ESG factors into
the design and management of the products and services offered
across all our business lines. Aligned with this commitment, CWB
Wealth Management recently became a signatory to the Principles for
Responsible Investing (PRI), and is working to formalize our
approach to integrate ESG factors into investment analysis and
decision-making processes.
As we fully develop our approach to climate change, we remain
focused on how we will best support our clients in achieving their
sustainability goals to ensure they are positioned for long-term
success as Canada transitions to
net-zero emissions. As a foundational first step to manage our own
carbon footprint, we have commenced the work to measure our
greenhouse gas (GHG) emissions, including financed emissions,
across our national footprint.
We support the need for clear and transparent ESG disclosures
based on frameworks that allow for comparability across and within
industries, and are committed to adopt the Task Force on
Climate-related Financial Disclosures (TCFD) recommendations and
the Sustainability Accounting Standards Board (SASB) standards
through a phased approach. Our Sustainability Report includes
select TCFD and SASB disclosures, which we will continue to enhance
in subsequent reports.
About CWB Financial Group
CWB is the only full-service financial institution in
Canada with a strategic focus to
meet the unique financial needs of businesses and their owners. We
provide nation-wide full-service business and personal banking,
specialized financing, comprehensive wealth management offerings,
and trust services. Our teams deliver a uniquely proactive and
differentiated level of service to clients in targeted industries
where we have deep expertise. Clients choose CWB for our highly
personalized service, specialized expertise, customized solutions
and faster response times.
As a public company on the Toronto Stock Exchange (TSX), CWB
trades under the symbols "CWB" (common shares), "CWB.PR.B" (Series
5 preferred shares) and "CWB.PR.D" (Series 9 preferred shares). We
are firmly committed to the responsible creation of value for all
our stakeholders and our approach to sustainability will support
our continued success. Learn more at www.cwb.com.
SOURCE CWB Financial Group