Canadian Imperial Bank of Commerce | Adopt a policy to contribute a certain percentage of compay profit to support ESG causes at Canadian Imperial Bank of Commerce

Status
Withdrawn
AGM date
Previous AGM date
Resolution details
Company ticker
CM:CN
Resolution ask
Adopt or amend a policy
ESG theme
  • Environment
ESG sub-theme
  • Climate change
Filer type
Shareholder
Company sector
Financials
Company HQ country
Canada
Resolved clause
RESOLVED:It is proposed that the Board of Directors consider the creation of a social contribution whereby a certain percentage of the Company’s profits would be allocated to support ESG causes, in particular the environment and inequality.
Supporting statement
SUPPORTING STATEMENT: Given the scale of the climate crisis and growing inequalities, we propose the creation of a new kind of dividend aimed at broadening the sharing of the value created by the organization towards projects with strong social and environmental added value. Following the example of Crédit Mutuel (France) and MAIF (Mutuelle d’assurance pour les instituteurs de France – mutual insurance for teachers in France),1 the sums thus made available could be devoted to the ecological, climatic and social transition. For instance, these sums could be used to invest in companies that do not necessarily aim for immediate profitability, but have a positive impact on the environment and on inclusiveness, such as investments in energy renovation or the creation of bicycle garages in cities, in the support of customers and future customers most exposed to climatic events and the most economically vulnerable, or in the granting of zero-interest loans for energy renovation to customers on modest incomes, and so on.

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