CIBC undertakes $100 Million to accelerate climate action in tech
A Brief Summary
CIBC to invest $100 Million in investments to promote low carbon targets. The move will help achieve sustainability when investments target the acceleration of climate action through the development of new climate innovations.
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CIBC, the world's largest bank, has pledged $100 million in low-carbon and climate-tech initiatives, which will aid in the development of new climate solutions. Limited Partnership investments, which focus on cooperating with other firms, are being used to distribute the funds.
"With new and rising environmental problems, we believe our bank has a critical role to play in accelerating climate action via innovation across North America," said Harry Culham, group head of CIBC Capital Markets. "These investments are another way we're fostering long-term sustainability while driving growth into new areas of the economy." According to a news release announcing the development, specific specifics about the investment aren't accessible at this time.