CIBC has developed Canada’s first social bond framework focused on corporations with a demonstrated commitment to women in leadership roles.
Bonds under the framework will help meet a growing demand among institutional investors for socially responsible investments and generate awareness of the importance of gender diversity across corporate Canada, says CIBC in a release.
Specifically, the framework supports CIBC’s corporate lending to companies that are signatories to the Catalyst Accord 2022, have 30% of board or executive positions held by women, and have a minimum of one woman on the board and one woman in an executive position.
The Catalyst Accord 2022 calls on Canadian boards and CEOs to pledge to accelerate women’s advancement in business through appointing women to executive positions.
Further, CIBC’s framework has established a list of exclusionary criteria for these bonds. For example, companies primarily involved in alcohol, tobacco, gambling or fossil fuels are excluded from the framework.
For full details, see the CIBC Women in Leadership bond framework.