- BMO ranked top bank in North
America
- Reflects commitment to sustainable future and carbon
neutrality
TORONTO and DAVOS, Switzerland, Jan. 21, 2020 /CNW/ - BMO Financial Group
(TSX:BMO) (NYSE:BMO) today announced it has been named to Corporate
Knights' 2020 Global 100 Most Sustainable Corporations in the World
ranking.
BMO, the top-ranked bank in North
America on the list, was recognized for its sizable
portfolio of sustainable loans, as well as its enterprise-wide
commitment to creating a sustainable future throughout its
operations.
In June 2019, BMO unveiled its
Purpose commitments to double the good for a sustainable future,
thriving economy and inclusive society. This includes doubling the
bank's mobilization of sustainable finance to $400 billion by 2025 with both management of
client investments earmarked for sustainable objectives, and
mobilizing $150 billion in capital to
support companies pursuing sustainable outcomes. In addition, the
Bank has announced the creation of an impact investment fund, with
$250 million in seed capital, to find
and scale solutions to sustainability.
"As the world grapples with addressing climate change, banks are
uniquely positioned to be catalysts for change that meets
environmental, social, and economic needs," said Dan Barclay, Chief Executive Officer and Group
Head, BMO Capital Markets. "We must convene all sides of the
debate, and work with industry – both traditional and emerging – to
transition to a sustainable future. At BMO, we're focused on
driving positive change and supporting our clients in this way will
help achieve a wide range of sustainable development goals."
"Our Purpose is to Boldly Grow the Good in business and life,"
said Simon Fish, General Counsel for
BMO Financial Group and Chair of BMO's Sustainability Council.
"We're committed to driving positive change for our customers,
employees and the communities we serve. This underpins the bank's
longstanding commitment to sustainability. Today, from human rights
to climate change to sustainable finance, the challenges we face
and opportunities we have before us are increasingly complex and
interconnected. In response, we are strengthening our commitment to
sustainability and to navigating these changes together with our
stakeholders."
BMO Financial Group's commitment to creating a sustainable
future also includes:
- Maintaining carbon neutrality for our operational emissions,
including business travel, since 2010
- First bank in Canada to
provide a Sustainability Linked Loan
- Establishing a Sustainable Bond Program
- Published the Sustainable Financing Framework that defines
eligible assets across seven green and four social project
categories that link to the United Nations 2030 Agenda for
Sustainable Development
- Participating in US$9.4 billion
in sustainable bond underwriting, $7.9
billion of renewable energy debt and equity, and providing
$4.2 billion of loan commitments to
renewable energy entities and projects
- Only bank to have book-run all five of World Bank's sustainable
development bonds, helping to provide over $5.5 billion in financing for initiatives aligned
with the UN SDGs
- Donating $67.3 million to
registered charities and non-profit organizations in Canada and the
United States
- Enhancing our disclosure on climate-related risks and
opportunities in line with the Taskforce on Climate-related
Financial Disclosures (TCFD)
- Adding new disclosure in line with the Sustainability
Accounting Standards Board (SASB) standards
In 2019, BMO's leadership on sustainability was recognized on
numerous rankings, including:
- Corporate Knights 2019 Best 50 Corporate Citizens in
Canada
- Ethisphere® Institute's list of the 2019 World's Most Ethical
Companies®
- Dow Jones Sustainability Index, North
America (2019) for the 15th year in a row
- Bloomberg Gender-Equality Index (2019) for the fourth year in a
row
- Forbes 2019 Best Employers for Diversity(United States) and Best Employers for Women
(United States)
For more information on BMO's commitment to a sustainable
future, please visit the 2019 Sustainability Report.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly
diversified financial services provider - the 8th largest bank, by
assets, in North America. With total assets of $852
billion as of October 31, 2019, and a team of diverse and
highly engaged employees, BMO provides a broad range of personal
and commercial banking, wealth management and investment banking
products and services to more than 12 million customers and
conducts business through three operating groups: Personal and
Commercial Banking, BMO Wealth Management and BMO Capital
Markets.
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SOURCE BMO Financial Group