As one of Canada’s largest banks, we’re committed to minimizing the impact of our operations on the environment and demonstrating leadership by integrating environmental considerations into our business practices. We continue to find new, innovative ways to reduce our environmental footprint through both enterprise-wide and employee-led initiatives.

Our strategy

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

BMO’s carbon neutral strategy comprises a three-pronged approach:

1. Reduce emissions from energy use in our buildings and business travel
2. Invest in renewable energy
3. Purchase high-quality voluntary carbon credits to close the remaining gap

This strategy also provides a framework for developing new practices, measuring success, charting our progress, promoting transparency, identifying opportunities and encouraging our clients, suppliers, peers and global partners to be innovative and find new ways to protect our collective future. Through grassroots employee programs and partnerships with environmental organizations, we are working in large and small ways to create a greener workplace and planet.

Our work continues

Achieving carbon neutrality in 2010 and first matching our global electricity use with renewables in 2020 were key milestones in our journey — but that journey continues. We are focused 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 (Scopes 1 and 2) by 30% by 2030 from a 2019 baseline.

In 2022, we saw emissions reduction that surpassed the 2030 target, due in part to the implementation of improved cooling efficiency initiatives in our data centres, and largely attributable to COVID-19 related remote working conditions. Return to office could increase emissions in future years but the overall emissions reduction target from the 2019 baseline will continue to be pursued.