BMO supports Canada’s bid to host headquarters of International Sustainability Standards BoardRead the blog
BMO releases first Impact Fund Disclosure applying IFC led Operating Principles for Impact ManagementRead the blog
BMO to chair global Cross-Sector Biodiversity InitiativeRead the blog
Earth Day 2021 – BMO turns trades into treesRead the blog
BMO kicks off Earth Month by celebrating our membership in the Priceless Planet CoalitionRead the blog
BMO declares climate ambitionRead the blog
BMO works with Atlantic Packaging towards a sustainable futureRead the blog
BMO announces bold renewable energy goalRead the blog
BMO among first Canadian banks to sign UN Principles for Responsible BankingRead the blog
The road to net zeroLearn more
Partnership for a net zero worldLearn more
Learn more about BMO’s net zero ambition with new videosRead the blog
Six of Canada’s largest banks join United-Nations-convened Net-Zero Banking AllianceRead the blog
BMO’s commitment to climate action
BMO’s net zero ambition is our strategy to address climate-related risks and opportunities, consider climate-related issues when reviewing strategic choices and measure and report our progress against goals and targets. It’s anchored by a new Purpose-driven Bold Commitment to be our client’s lead partner in the transition to a net zero world, and comprises four pillars: Commitment, Capabilities, Client Partnership and Convening for Climate Action.
Introducing The BMO Climate Institute
The new BMO Climate Institute brings together science, analytics, expertise and partners to understand and manage the financial risks and opportunities related to climate change and transition for both clients and the bank.
The Institute will drive thought leadership inside and outside of the bank, convene parties for climate action and provide insights and best practices for industry, government, academia and investors to unlock climate solutions. Learn more.
Mobilizing Sustainable Finance
Leveraging BMO’s existing capabilities in sustainable finance and insights from The BMO Climate Institute, BMO will support our clients to advance sustainability objectives, including the transition to a net zero world, mobilizing sustainable finance. BMO’s new commitment will include deploying C$300 billion (239 billion USD)* in capital to clients pursuing sustainable outcomes through green, social and sustainable lending, underwriting, advisory services, and investment by 2025.
*Converted to US Dollars at a rate of 1.30
Taking Definitive Action
Mapping a clear path to net zero, BMO is taking the following steps:
|Setting a new target to reduce operational greenhouse gas emissions by 30% by 2030 versus a 2019 baseline using science-based approaches, building on BMO’s Carbon Neutral operations (since 2010) and matching 100% of global electricity use with renewable energy purchases (since 2020)|
|Targeting net zero financed emissions in our lending by 2050 and committing to establishing intermediate (2030) and longer-term (2050) targets for financed emission reduction in partnership with our clients. BMO will report on progress annually beginning in 2021.|
|Committing to the UN Principles for Responsible Banking (PRB), and to align our business strategy with the UN Sustainable Development Goals (SDGs), the Paris Climate Agreement and relevant national and regional frameworks. In February 2021, BMO became one of the first major Canadian banks to sign the PRB.|
|Quantifying and disclosing financed emissions data leveraging the PCAF approach.|
|Joining the Net Zero Asset Managers Alliance and as a member of Climate Action 100+, aligning our investee engagement program with the ambitions of the Paris Climate Agreement, including a net zero world. BMO GAM will set an interim target toward a goal of 100% net zero assets under advisement by 2050.|
|Working with industry peers on the development of recommended actions, metrics and methodologies for asset owners and asset managers to allow BMO GAM to become net zero investors, as a member of the Institutional Investors Group on Climate Change.|
|Working with partners to develop and share good practices related to biodiversity and ecosystem services in the extractive industries, as a member of the Equator Principles Steering Committee and Chair of the Cross-Sector Biodiversity Initiative.|