Environmental targets and performance
BMO Carbon Neutral Project DescriptionsView PDF
Carbon Neutrality: Achieving our GoalView PDF
2021 Sustainability Report Data Pack and GlossaryView PDF
Operational ECO5 summary reporting
We strive to mitigate our impact by managing our energy use, transportation, material consumption (including paper), waste generation and procurement – these are the 5 pillars of our ECO5 strategy. Our Sustainability Report Data Pack and Glossary provides a holistic view of the major indicators we use to guide us in the implementation of this strategy and to track progress toward our publicly stated targets.
Emissions reduction targets and reports
As a bank, the majority of our direct environmental impact is a result of emissions from the buildings we occupy, and the remainder is largely the result of business travel. Since 2008, we’ve met four separate multi-year enterprise emissions reduction targets. And we’ve built on that success with an ambitious new target established in 2019.
Emissions reduction target, established 2019
- Plan: In 2019, BMO set a new target to reduce Scope 1 and Scope 2 GHG emissions 30% by 2030 versus a 2019 baseline using science-based approaches.
- Progress: Scope 1 and Scope 2 emissions have decreased by 29% since 2019.
Note: In 2020 and 2021, we saw emissions reduction that reached or came close to the 2030 target, largely attributable to COVID-19 related remote working conditions. Return to office could increase emissions relative to 2020 and 2021 in future years but we will continue to target a 30% reduction by 2030 from the 2019 baseline.
Further reporting on emissions
Here’s more information on how we’re measuring against our goal to reduce carbon emissions:
- Sustainability Report Data Pack and Glossary: The indicators we use to guide us in the implementation of our operational efficiency strategy and to track progress toward our publicly stated targets can be found in our 2021 Sustainability Report Data Pack and Glossary.
- CDP: Formerly the Carbon Disclosure Project, CDP aims to enhance the level and quality of carbon emissions disclosure from publicly traded corporations. Read our 2021 response to the CDP which represents the relevant data for our fiscal 2020 period.
- Emissions verification statement: Read the third-party statement providing a commercially independent verification of the completeness and accuracy of our greenhouse gas emissions reporting.
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