Corporate Knights Ranks BMO Top Sustainable Bank in North America
JAN 27, 2021 - 7:10 am
BMO Financial Group was named to Corporate Knights’ 2021 Global 100 Most Sustainable Corporations in the World list and was ranked the most sustainable bank in North America for the second year in a row.
BMO was recognized for its portfolio of sustainable loans — including green loans and loans to women and BIPOC-owned small businesses — as well as its commitment to create a sustainable future across all its operations. BMO also scored highly in leadership and board diversity, with women representing 45.5% of BMO’s board’s independent directors.
In 2019, BMO committed to mobilizing $400 billion in sustainable finance by 2025, including lending, underwriting and investing $150 billion in companies pursuing sustainable outcomes, and aligning $250 billion in client investments to sustainable objectives. By 2020 the bank achieved 71% of its $150 billion target and surpassed its $250 billion target.
“As the global discussion about climate change and sustainability grows, companies need not only to be part of the conversation but also part of the solution,” Dan Barclay, CEO and group head of BMO Capital Markets, said. “BMO has a purpose-driven commitment to sustainability that includes investing in and supporting the communities where we work and providing strategic support to assist clients in transitioning to more sustainable ways of operating. We believe sustainability is critical to a successful future.”
“Being ranked as the most sustainable bank in North America is a strong validation of the effort and commitment that has gone into our work on sustainability,” Michael Torrance, chief sustainability officer of BMO, said. “As part of our purpose, BMO is committed to creating long-term value for our stakeholders by responding to today’s most pressing challenges with industry-leading approaches to sustainable finance, climate change, human rights, diversity, equity and inclusion. We’re excited about the progress we’ve made and are more committed than ever to fulfilling our purpose and to helping clients, employees and communities fulfill theirs.”
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