BMO has been named to Corporate Knights’ 2020 Global 100 Most Sustainable Corporations in the World ranking—as the top-ranked bank in North America on the list. The Global 100 companies list represents what the Toronto-based Corporate Knights considers the top 1% of companies in the world who are leading the way on sustainability performance.
BMO was particularly recognized for our sizable portfolio of sustainable loans, as well as our enterprise-wide commitment to creating a sustainable future throughout our operations. In line with our Purpose commitment to double the good for a sustainable future, BMO has been making bold strides within the area of sustainable finance, including by committing to mobilize $400 billion for sustainable finance by 2025. This includes $250 billion in client investments aligned with sustainable objectives, and $150 billion in capital to support companies pursuing sustainable outcomes. In addition, BMO has created an impact investment fund, with $250 million in seed capital, to find and scale solutions to sustainability challenges.
Operationally, BMO has been carbon neutral since 2010. Our carbon neutrality strategy includes reducing emissions through energy efficiency and waste reduction initiatives, investing in renewable energy and purchasing high-quality carbon offsets. It covers all of our operational emissions globally, including emission from business travel.
“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. 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.”
In recognizing BMO this week for our sustainability commitments, Corporate Knights is joined by Bloomberg, which announced that it has included BMO on its 2020 Gender Equity Index and Forbes Magazine, which today awarded BMO a spot on its list of Best Employers for Diversity.