Banking giant CIBC is committing $100 million in investments towards low carbon and climate tech, which will help create new climate innovations.
The funds are being allocated through Limited Partnership investments, which focus on partnering with other corporations.
“With new and intensifying environmental challenges, we believe our bank has an important role to play in supporting the acceleration of climate action through innovation across North America,” Harry Culham, group head of CIBC Capital Markets, said in a statement. “These investments are another way we’re driving growth into new areas of the economy while helping to foster long-term sustainability.”
Specific details of what the investment will look like aren’t available at this time, according to a press release regarding the announcement.
Image credit: CIBC