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Sustainable procurement

As part of BMO’s commitment to sustainability, we integrate environmental and social risk management into our procurement practices.

As part of BMO’s commitment to sustainability, we integrate environmental and social risk management into our procurement practices.

Sustainable procurement

BMO’s sustainable procurement practices are guided by our supplier code of conduct, which outlines the principles we expect our suppliers to uphold related to integrity, fair dealing and sustainability. Our procurement department works with our Sustainability Office to support their efforts to enable the identification of environmental and social risk within BMO’s supply chain.

We use environmental and social risk data tools to enhance our monitoring of issues affecting our supply chain. In 2020, we advanced our capabilities for understanding GHG emissions related to our supply chain, specifically Scope 3 category 1 emissions from purchased goods and services in the GHG protocol. This work will enable us to better identify carbon hot spots in our supply chain, and will also inform the development of our sustainable procurement program.

Other areas of focus include using more sustainable materials in new construction and renovation projects for our facilities. We aim to purchase locally manufactured materials and/or materials comprised of recycled content to reduce our impact on the environment. We choose materials containing low volatile organic compound (VOC) elements, to protect employee and customer health and comfort. And to minimize waste going to landfill, we select quality materials with a long lifespan. BMO also makes it a priority to use green cleaning products, furthering our protection of the environment.

Supplier diversity

Supplier diversity is a key component of BMO’s diversity and inclusion strategy. We’re committed to building long-term relationships with diverse suppliers and ensuring that qualified businesses have equal opportunities to compete for business. BMO works directly with diverse businesses, and expects its suppliers to provide similar opportunities in their own supply bases.

Supplier diversity is embedded in our procurement practices in both Canada and the U.S. These practices include:

  • Sourcing Process: identifying and including diverse suppliers in competitive events hosted to purchase a new product or service.
  • Reporting: tracking inclusion efforts consistently, with results reported quarterly to BMO’s Enterprise Supplier Diversity Council, as well as the Leadership Committee for Inclusion and Diversity (LCID), ensuring senior-level visibility and sponsorship.
  • Partnerships and outreach: establishing corporate partnerships with supplier diversity advocacy councils, which allows the bank to connect with and build relationships with diverse supplier communities to continuously improve inclusion in the sourcing process.
  • Education: Continuously engaging with diverse business communities, conducting one-on-one meetings and encouraging registration in BMO’s supplier portal for consideration in future opportunities.

BMO is constantly improving our supplier diversity practices. We have expanded our Supplier Diversity Council to be enterprise-wide and to include leadership from our lines of business, as well as setting line of business supplier diversity goals. We have also launched BMO’s first diverse business development program, BMO Elevate, to provide executive mentorship, help suppliers grow their businesses and connect them with decision makers at BMO.

Learn more in this February 2021 episode of BMO’s Sustainability Leaders podcast about supplier diversity.

Operational sustainability

Carbon neutral since 2010, BMO is dedicated to finding innovative ways to minimize the environmental impacts of our operations.

Environmental policy and approach

BMO’s environmental sustainability strategy, known as ECO5, guides how we reduce the environmental impact of our business operations.

Diversity, equity and inclusion

BMO’s Zero Barriers to Inclusion 2025 is a multi-year strategy focused on providing access to opportunities and enabling growth both inside and outside our doors.