CWB publishes 2023 Sustainability Report

EDMONTON, AB, March 13, 2024 /CNW/ - Canadian Western Bank (CWB) today released its 2023 Sustainability Report, which provides insight into our performance related to priority environmental, social and governance (ESG) factors that support the ongoing success of our clients, long-term value creation for all our stakeholders and sustainable growth for our business. Our Sustainability Report includes our Public Accountability Statement and can be found on our website at: www.cwb.com/sustainability-reports.

"Our 2023 Sustainability Report showcases our continued progress on our ESG priorities, which are focused to deliver sustainable value for all our stakeholders and the responsible growth of our business," said Chris Fowler, CWB's President and CEO. "Our values, culture and strategy are the guiding force that sets our talented teams up for success as we navigate the continuously evolving landscape that impacts our business, and the businesses of our clients. I am proud of the dedication that our team members have demonstrated in a challenging environment. Through their efforts we have built a strong, resilient full-service bank and are well positioned to seize opportunities to drive sustainable change and long-term value creation."

As a further step to manage our direct and indirect climate impact, CWB commits to reduce absolute Scope 1 and Scope 2 GHG emissions 42% by 2030 from a 2022 base year. This target is informed by the Science Based Targets Initiative 1.5^oC pathway.

We support the need for clear and transparent ESG disclosures based on frameworks that allow for comparability across and within industries, and continued our phased adoption of the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and the Sustainability Accounting Standards Board (SASB) standards in our 2023 Sustainability Report. Moving forward, we will continue to advance our disclosures in alignment with relevant reporting frameworks as our approach to sustainability matures.

SOURCE CWB Financial Group

CWB Sustainability Team, [email protected]