Climate change


BMO is focused on being our clients’ lead partner in the transition to a net zero world. We’re taking comprehensive steps across our financing activities and operations to drive solutions to achieve net zero and our Purpose-driven commitment to a sustainable future.

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 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.

BMO Climate Institute

The BMO Climate Institute is a virtual hub that brings together science, analytics and expertise to unlock solutions to climate change and drive climate adaptation innovations.

Learn more

Environmental stewardship

Operational sustainability

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

Learn more