CIBC Mellon Releases 2010 Corporate Social Responsibility Review: "Doing Well By Doing Right"
Toronto, April 29, 2011 – Today, CIBC Mellon released its third annual corporate social responsibility (CSR) review: "Doing Well By Doing Right."
"We are committed to doing well by doing right," said Tom Monahan, president and chief executive officer, CIBC Mellon. "I am proud of our performance in 2010 as a company, as a corporate citizen, and as an organization committed to taking responsibility for the impact of our actions on our stakeholders."
CIBC Mellon's 2010 CSR review provides an overview of the company’s CSR program, its 2010 achievements and its 2011 objectives. The document focuses on the company’s efforts and achievements in five key areas: community, environmental sustainability, governance and ethics, clients and products, and employees.
CIBC Mellon's 2010 CSR successes include:
- Contributing more than $800,000 to more than 130 not-for-profit organizations.
- Supporting employees in volunteering more than 5,800 hours of fundraising and volunteering.
- Quadrupling the number of volunteering events during business hours: more than 150 employees supported a variety of registered charities at 20 events.
- Decreasing paper usage levels to 35 per cent below the company’s baseline 2007 year.
"We are passionate about making a positive difference in the communities where we live and work," said Tim Rourke, vice president, relationship management and chair of CIBC Mellon’s CSR committee. "Our CSR program helps us motivate our employees, serve our clients more effectively, reduce our environmental impacts and ensure the highest standards across our organization at all times.”
Note: In keeping with the company’s environmental sustainability commitment, 80 per cent of our 2010 CSR review distribution will be achieved electronically.
About CIBC Mellon
CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce and BNY Mellon. CIBC Mellon is a leading provider of financial services for institutions and corporations, providing superior asset and investment servicing, multicurrency accounting, information delivery, unitholder recordkeeping securities lending and foreign exchange services in Canada. CIBC Mellon is part of BNY Mellon, which has US$25.5 trillion in assets under custody and administration and more than $1.2 trillion in assets under management.
David Bauer, corporate affairs, 416-643-5142