Sunrise

BMO Reaches Goal to Match 100 Per Cent of Electricity Usage with Renewables


BMO has announced it has reached an important milestone in its commitment to a sustainable future: it has met its 2020 goal, announced last April, to match 100 per cent of its electricity usage with electricity produced from renewable sources across global operations.

This achievement includes investment in Renewal Energy Certificates from wind, solar and hydro projects in the regions where BMO operates, in quantities that match its 2019 global electricity consumption. The investment has enabled the generation of over 407,000 MWh of renewable energy.

This initiative aligns with BMO’s long-standing leadership on sustainability, which includes maintaining carbon neutrality in global operations since 2010 and meeting three successive multi-year enterprise emission reduction targets since 2008, matching 100 per cent of electricity usage in U.S. operations with renewables, and committing to mobilize $400 billion in sustainable finance by 2025.

“We’re excited to have reached this milestone so quickly and to be making such an important contribution in the shift to a sustainable future, a key part of BMO’s Purpose 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 continue to focus on reducing our own energy use and associated greenhouse gas emissions with a robust energy management plan that includes both operational efficiency improvements and capital upgrades to our buildings.”

BMO has set a target to reduce its operational greenhouse gas emissions by 15 per cent by 2021 compared to its 2016 baseline and is on track to achieve this goal, reaching a 9 per cent reduction at the end of 2019.  BMO’s 2019 operational efficiency data is available at https://corporate-responsibility.bmo.com/our-practices/environmental-stewardship/enviro-targets-performances/.

BMO has been recognized for sustainability by a number of organizations in 2020, including Corporate Knights and The Wall Street Journal.



Related Insights



BMO GAM takes two awards in Investment Week’s Sustainable & ESG Investment Awards 2019
Corporate social responsibility, Sustainable finance

BMO’s Responsible Global Equity Fund (£600m AUM) has been recognised by the respected UK industry magazine Investment Week as the Best ESG Investment Fund for 2019, the second time it has won. The Fund, which was launched in October 1987, focuses on businesses that are proactively and effectively managing their own ESG risks and opportunities, […]

Solar panels and wind turbines BMO announces bold renewable energy goal
Environmental stewardship

At BMO, we’re committed to reducing our impact on the environment. That’s why we recently announced a 2020 goal to match 100 per cent of our electricity usage with electricity produced from renewable sources across global operations. The initiative includes investment in Renewal Energy Certificates, and will enable the generation of nearly 400,000 MWh of […]

BMO's Tracie Morris BMO’s 2019 Sustainability Report demonstrates purpose in action across the bank
Corporate social responsibility

Every year, BMO releases a substantive public report that provides a detailed analysis of the bank’s performance against key sustainability indicators. The Sustainability Report (formerly titled the Environmental, Social and Governance Report) offers comprehensive insight into our progress, as well as an outline of our actions and responses to the issues that our stakeholders and […]