BMO ranked at Management Degree with A- rating, surpassing worldwide monetary providers sector common
TORONTO, Feb. 6, 2020 /CNW/ – BMO Monetary Group (TSX:BMO) (NYSE:BMO) at present introduced it has been acknowledged by the CDP (previously known as the Carbon Disclosure Challenge) for its robust actions and transparency within the areas of local weather change governance, local weather change danger administration, and greenhouse fuel emissions discount. The CDP, a not-for-profit charity, gives a world disclosure system for traders, corporations, cities, states, and areas to handle their environmental impacts.
Greater than eight,000 corporations globally have been scored by CDP in response to the comprehensiveness of their disclosure and their actions in the direction of a net-zero emissions financial system, leading to each a North American regional common and a world monetary providers sector common of ‘C.’ BMO’s A- rating places the financial institution within the Management band – a sign that it’s implementing present greatest practices.
In June 2019, BMO unveiled its Objective commitments to double the great for a sustainable future, thriving financial system and inclusive society. This contains doubling the financial institution’s mobilization of sustainable finance to $400 billion by 2025 with each administration of consumer investments earmarked for sustainable goals, and mobilizing $150 billion in capital to help corporations pursuing sustainable outcomes. As well as, the Financial institution has introduced the creation of an influence funding fund – with $250 million in seed capital – to seek out and scale options to sustainability.
“For greater than 200 years, BMO has been a catalyst for constructive change for our prospects, workers and the communities we serve,” stated Simon Fish, Basic Counsel for BMO Monetary Group and Chair of BMO’s Sustainability Council. “We’re making an vital contribution within the shift to a sustainable future each inside our personal operations, and when guiding our shoppers. This dedication to sustainability is mirrored in our Objective to Boldly Develop the Good in enterprise and life.”
BMO Monetary Group’s dedication to making a sustainable future additionally contains:
Sustaining carbon neutrality for our operational emissions, together with enterprise journey, since 2010
Assembly three successive multi-year enterprise emission discount targets since 2008
First financial institution in Canada to supply a Sustainability Linked Mortgage
Establishing a Sustainable Bond Program and issuing a sustainability bond with belongings allotted to 4 inexperienced and two social venture classes that hyperlink to the United Nations 2030 Agenda for Sustainable Improvement
Collaborating in US$9.four billion in sustainable bond underwriting, $7.9 billion of renewable vitality debt and fairness financing, and offering $four.2 billion of mortgage commitments to renewable vitality entities and tasks
Solely financial institution to have book-run all 5 of the World Financial institution’s sustainable growth bonds, serving to to supply over $5.5 billion in financing for initiatives aligned with the UN Sustainable Improvement Targets (SDGs)
Donating $67.three million to registered charities and non-profit organizations in Canada and the USA in 2019
Enhancing our disclosure on climate-related dangers and alternatives according to the Taskforce on Local weather-related Monetary Disclosures (TCFD)
Including a brand new disclosure according to the Sustainability Accounting Requirements Board (SASB) requirements
BMO’s management on sustainability has been acknowledged on quite a few rankings, together with:
Prime ranked North American financial institution on Company Knights 2020 World 100 Most Sustainable Firms within the World
Bloomberg Gender-Equality Index (2020) for the fifth yr in a row
Forbes 2020 Finest Employers for Variety (United States)
Company Knights 2019 Finest 50 Company Residents in Canada
Dow Jones Sustainability Index, North America (2019) for the 15th yr in a row
Ethisphere® Institute’s record of the 2019 World’s Most Moral Firms®
For extra info on BMO’s dedication to a sustainable future, please go to the 2019 Sustainability Report.
About BMO Monetary Group
Serving prospects for 200 years and counting, BMO is a extremely diversified monetary providers supplier – the eighth largest financial institution, by belongings, in North America. With complete belongings of $852 billion as of October 31, 2019, and a staff of various and extremely engaged workers, BMO gives a broad vary of non-public and business banking, wealth administration and funding banking services to greater than 12 million prospects and conducts enterprise by means of three working teams: Private and Industrial Banking, BMO Wealth Administration and BMO Capital Markets.
Web: www.bmo.com Twitter: @BMOMedia
SOURCE BMO Monetary Group
For additional info: For Information Media Inquiries: Julie Smithers, Toronto, [email protected], (416) 867-3996