BMO Financial Commits to Mobilizing $400B for Sustainable Finance

BMO Financial Group has published its 2019 Sustainability Report.

Sustainability activities highlighted in the report include:

  • Committing to mobilize $400 billion for sustainable finance, including aligning $250 billion in client investments toward sustainable outcomes and making $150 billion in capital available to companies pursuing sustainable outcomes
  • Establishing a Sustainable Bond Program to support its sustainable finance commitment
  • Participating in $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
  • Donating $67.2 million to registered charities and non-profit organizations in Canada and the United States
  • Enhancing its 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 sustainability disclosure contributed to the company’s standing on numerous rankings, including:

  • 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
  • Corporate Knights 2019 Best 50 Corporate Citizens in Canada
  • Forbes 2019 Best Employers for Diversity (U.S.) and Best Employers for Women (U.S.)

The 2019 Sustainability Report provides BMO’s environmental, social and governance (ESG) disclosure, with a focus on issues identified by stakeholders as most affecting the bank’s sustainability. The report also includes the Public Accountability Statements for Bank of Montreal and its applicable subsidiaries: Bank of Montreal Mortgage Corporation, BMO Life Assurance Company and BMO Life Insurance Company.

“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.”

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