BMO Financial Group Recognized by CDP for Best Practice in Climate Change
-
bookmark
-
print
BMO ranked at Leadership Level with A- score, surpassing international financial services sector average
TORONTO, Dec. 16, 2020 /CNW/ - BMO Financial Group (TSX:BMO) (NYSE:BMO) today announced it has been recognized by CDP for its strong actions and transparency in the areas of climate change governance, climate change risk management, and greenhouse gas emissions reduction. CDP, a not-for-profit charity, provides a global disclosure system for investors, companies, cities, states, and regions to manage their environmental impacts.
More than 9,600 companies globally disclosed through CDP in 2020, 14 per cent more than last year and 70 per cent more than when the Paris Agreement was signed. Companies were scored according to the comprehensiveness of their disclosure and their actions towards a net-zero emissions economy. BMO's A- score puts the bank in the Leadership band – an indication that it is implementing current best practices.
"At BMO, we recognize that climate change is a challenging issue that presents a test of resilience and requires us to anticipate risks and capture opportunities. We have been working to implement the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD), including undertaking climate change scenario analysis," said Simon Fish, General Counsel for BMO Financial Group and Chair of BMO's Sustainability Council. "We are committed to making an important contribution in the shift to a sustainable future, both within our own operations and when guiding our clients."
BMO is focused on the opportunities that the transition to a net-zero carbon economy presents. The bank continues to develop its sustainable finance capabilities and has a goal to mobilize $400 billion in sustainable finance by 2025. Equally committed to reducing the environmental impact of its own operations and in 2020, BMO built on its long-standing commitment to carbon neutrality by setting and meeting a goal to match 100 per cent of global electricity usage with electricity procured from renewable sources.
BMO Financial Group's actions on sustainability and towards a sustainable future include the following:
-
In 2019, BMO unveiled its Purpose to Boldly Grow the Good in business and life, announcing commitments to double the good for a thriving economy, sustainable future, and inclusive society
-
World-class sustainability disclosure, including on climate-related risks and opportunities in line with the Taskforce on Climate-related Financial Disclosures (TCFD) and the Sustainability Accounting Standards Board (SASB) standards
-
In 2019, issued a $500 million USD Sustainability Bond with use of proceeds tied to the UN Sustainable Development Goals
-
In October 2020, BMO reached a key milestone in matching 100 per cent of electricity usage with renewable electricity
-
In June 2019, BMO announced it would double the bank's mobilization of sustainable finance to $400 billion by 2025. This includes an impact investment fund, with $250 million in seed capital, to find and scale solutions to sustainability
-
In May 2020, signed the Operating Principles for Impact Investment, a gold standard for impact investment fund management, developed by the International Finance Corporation of the World Bank
-
First Canadian bank to sign the UN Women's Empowerment Principles in 2019. In 2018, BMO committed to make $3 billion in capital available to women business owners in Canada over three years
-
In 2020, BMO launched BMO EMpower, a $5 billion commitment over five years to address key barriers faced by minority businesses, communities, and families in the United States
BMO's leadership on sustainability has been recognized on numerous rankings, including:
-
Ranked in the top ten per cent globally for sustainability performance on the 2020 Dow Jones Sustainability Index
-
Ranked 15th in The Wall Street Journal's 2020 list of the 100 Most Sustainably Managed Companies in the World, third overall on Social Capital
-
Top ranked North American bank on Corporate Knights 2020 Global 100 Most Sustainable Corporations in the World
-
Recognized at the Leadership band by CDP (formerly called the Carbon Disclosure Project) for its strong actions and transparency in the areas of climate change governance, climate change risk management, and greenhouse gas emissions reduction
-
Bloomberg Gender-Equality Index (2020) for the fifth year in a row
-
Forbes 2020 Best Employers for Diversity (United States)
-
Corporate Knights 2020 Best 50 Corporate Citizens in Canada
-
Ethisphere® Institute's list of the 2020 World's Most Ethical Companies®
For more information on BMO's commitment to a sustainable future, please visit the bank's Sustainability Report. The 2020 version of the Sustainability Report will be published December 18th.
For more information on BMO's Purpose, please visit our Purpose page.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $949 billion as of October 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
For further information: Media Contact: Kelly Hechler, Toronto, kelly.hechler@bmo.com, (416) 867-3996
-
Minute Read
-
Listen
Stop
-
Text Bigger | Text Smaller
BMO ranked at Leadership Level with A- score, surpassing international financial services sector average
TORONTO, Dec. 16, 2020 /CNW/ - BMO Financial Group (TSX:BMO) (NYSE:BMO) today announced it has been recognized by CDP for its strong actions and transparency in the areas of climate change governance, climate change risk management, and greenhouse gas emissions reduction. CDP, a not-for-profit charity, provides a global disclosure system for investors, companies, cities, states, and regions to manage their environmental impacts.
More than 9,600 companies globally disclosed through CDP in 2020, 14 per cent more than last year and 70 per cent more than when the Paris Agreement was signed. Companies were scored according to the comprehensiveness of their disclosure and their actions towards a net-zero emissions economy. BMO's A- score puts the bank in the Leadership band – an indication that it is implementing current best practices.
"At BMO, we recognize that climate change is a challenging issue that presents a test of resilience and requires us to anticipate risks and capture opportunities. We have been working to implement the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD), including undertaking climate change scenario analysis," said Simon Fish, General Counsel for BMO Financial Group and Chair of BMO's Sustainability Council. "We are committed to making an important contribution in the shift to a sustainable future, both within our own operations and when guiding our clients."
BMO is focused on the opportunities that the transition to a net-zero carbon economy presents. The bank continues to develop its sustainable finance capabilities and has a goal to mobilize $400 billion in sustainable finance by 2025. Equally committed to reducing the environmental impact of its own operations and in 2020, BMO built on its long-standing commitment to carbon neutrality by setting and meeting a goal to match 100 per cent of global electricity usage with electricity procured from renewable sources.
BMO Financial Group's actions on sustainability and towards a sustainable future include the following:
-
In 2019, BMO unveiled its Purpose to Boldly Grow the Good in business and life, announcing commitments to double the good for a thriving economy, sustainable future, and inclusive society
-
World-class sustainability disclosure, including on climate-related risks and opportunities in line with the Taskforce on Climate-related Financial Disclosures (TCFD) and the Sustainability Accounting Standards Board (SASB) standards
-
In 2019, issued a $500 million USD Sustainability Bond with use of proceeds tied to the UN Sustainable Development Goals
-
In October 2020, BMO reached a key milestone in matching 100 per cent of electricity usage with renewable electricity
-
In June 2019, BMO announced it would double the bank's mobilization of sustainable finance to $400 billion by 2025. This includes an impact investment fund, with $250 million in seed capital, to find and scale solutions to sustainability
-
In May 2020, signed the Operating Principles for Impact Investment, a gold standard for impact investment fund management, developed by the International Finance Corporation of the World Bank
-
First Canadian bank to sign the UN Women's Empowerment Principles in 2019. In 2018, BMO committed to make $3 billion in capital available to women business owners in Canada over three years
-
In 2020, BMO launched BMO EMpower, a $5 billion commitment over five years to address key barriers faced by minority businesses, communities, and families in the United States
BMO's leadership on sustainability has been recognized on numerous rankings, including:
-
Ranked in the top ten per cent globally for sustainability performance on the 2020 Dow Jones Sustainability Index
-
Ranked 15th in The Wall Street Journal's 2020 list of the 100 Most Sustainably Managed Companies in the World, third overall on Social Capital
-
Top ranked North American bank on Corporate Knights 2020 Global 100 Most Sustainable Corporations in the World
-
Recognized at the Leadership band by CDP (formerly called the Carbon Disclosure Project) for its strong actions and transparency in the areas of climate change governance, climate change risk management, and greenhouse gas emissions reduction
-
Bloomberg Gender-Equality Index (2020) for the fifth year in a row
-
Forbes 2020 Best Employers for Diversity (United States)
-
Corporate Knights 2020 Best 50 Corporate Citizens in Canada
-
Ethisphere® Institute's list of the 2020 World's Most Ethical Companies®
For more information on BMO's commitment to a sustainable future, please visit the bank's Sustainability Report. The 2020 version of the Sustainability Report will be published December 18th.
For more information on BMO's Purpose, please visit our Purpose page.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $949 billion as of October 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
For further information: Media Contact: Kelly Hechler, Toronto, kelly.hechler@bmo.com, (416) 867-3996
You might also be interested in
Expanded Latino Leaders Index500, Powered by BMO Ranks Top U.S. Latino-Owned Businesses
Record Investor Attendance Expected at BMO's 33rd Global Metals, Mining & Critical Minerals Conference, February 25th to February 28th, 2024
BMO Arranges Green Financing to Fund New Lawson Centre for Sustainability, Trinity College's Most Significant Build in a Century
BMO Establishes new U.S. Wine Industry Partnership, Enhancing Offering for Wine and Spirits Industry
BMO ranked one of the most sustainable companies in North America on the Dow Jones Sustainability Indices
BMO Financial Group Increases Common Share Dividend by 4 cents from the prior quarter, up 6 per cent from the prior year
BMO Climate Institute Business Leaders Survey: Nearly Half of Business Leaders in the U.S. and Canada Believe Climate Change Has Already Affected Their Businesses, but Few Have a Strategy
BMO Blue Book: U.S. Economy is Resilient but Predicted to Slow in Early 2024
BMO Announces Retirement of Dan Barclay, Names Alan Tannenbaum CEO, BMO Capital Markets
BMO's 19th Equity Through Education Trading Day Raises C$1.65 Million to Promote Education, Development and Progress for Promising Students Around the World
BMO Donates $3 Million to GRID Alternatives to Provide Solar Energy Solutions for Low-Income Families
Banco do Brasil and BMO Financial Group to Introduce First-of-its-Kind Program to Provide Sustainability-Linked Trade Loans Supporting Brazilian Exporters
BMO Provides Innovative New Sustainability-Linked Deposit Product to Zurn Elkay Water Solutions
BMO Marks National Indigenous History Month and National Indigenous Peoples Day with Support for Indigenous-Led Organizations that Empower Communities
BMO and Bell Canada Execute Innovative Sustainability-Linked Derivative Tied to Ambitious GHG Emission Reduction Targets
BMO Financial Group Increases Common Share Dividend by 4 cents from the prior quarter, up 6 per cent from the prior year
BMO Named to UN-Convened Group Providing Guidance to Global Banks on Nature Target Setting
Global Food and Agriculture Trends and Outlook: BMO Hosts 18th Farm to Market | Chemicals Conference in New York
BMO Celebrates Earth Day with 3rd Annual Trees from Trades Day on its Global Trading Floors
BMO Capital Markets CEO Dan Barclay named Male Ally of the Year by Financial Women's Association
BMO Ranked North America's Most Sustainable Bank by Corporate Knights for Fourth Consecutive Year
BMO ranked one of the most sustainable companies in North America on the Dow Jones Sustainability Indices
Top Rankings for BMO Capital Markets' FICC Macro Strategy Group in Institutional Investor Client Survey
BMO Climate Institute Survey Shows Costs and Competing Priorities Slowing Climate Action for Small and Mid-Sized Businesses
BMO Financial Group Increases Common Share Dividend by 4 cents from the prior quarter, up 8 per cent from the prior year
BMO the Top Ranked Financial Institution on New Global Sustainability Benchmark Announced at COP 27
The Government of Canada announces the issuance of a Ukraine Sovereignty Bond
BMO to Invest in Innovative Carbon Offsets from CarbonCure to Permanently Store CO2
The Financial Women's Association Underscores Its Commitment to the Back2Business™ Return-to-Work Program
A Canadian First: BMO and Concordia University Partner for a Sustainable Future with Innovative Sustainability-Linked Loan
BMO's 18th Global Equity Through Education Trading Day Raises C$1.65 Million for Education and Development of Students in Need
BMO Capital Markets Trading Floors in Toronto, New York and London Promote Equity Through Education for 18th Year to Provide Financial Aid to Students
BMO to Acquire Calgary-based Radicle Group Inc., a Leader in Environmental Services
BMO Financial Group Increases Common Share Dividend by 6 cents from the prior quarter, up 31 per cent from the prior year
BMO Expands Electronic Trading Operations for Institutions and Broker Dealers to EMEA Markets
BMO and EDC Announce Collaboration to Introduce Sustainable Finance Solutions for Canadian Businesses
BMO joins leading US banks in support of Ownership Works, to help create wealth for working families through employee ownership programs
BMO proud to support first Government of Canada Green Bond transaction as joint-lead manager
BMO Supports Women Entrepreneurs in Canada with $5 Billion in Capital to Mark International Women’s Day 2022
BMO Launches Business Within Reach: BMO for Black Entrepreneurs and Commits $100 million in loans to Help Black-led Businesses Start up, Scale up, and Grow
BMO Announces Plan to Partner with Breakthrough Energy Catalyst to Accelerate Climate Innovation
BMO Financial Group Named North America's Most Sustainable Bank for Third Consecutive Year
BMO Financial Group accelerates North American growth with strategic acquisition of Bank of the West
BMO Capital Markets Named Best Canadian Bank for USD/CAD for 11th Consecutive Year
BMO Financial Group Increases Common Share Dividend by 27 cents from the prior quarter, up 25 per cent from the prior quarter and prior year
BMO Financial Group Announces Intention to Repurchase Up to 22.5 Million of its Common Shares
BMO Helps Boralex Go Beyond Renewable Energy, with the Transition of its Credit Facility to a Sustainability-Linked Loan
BMO Capital Markets' Fixed Income Strategy Group Earns Top Rankings in Institutional Investor Survey
BMO First Bank to Pre-Purchase Direct Air Capture Carbon Removals using Carbon Engineering technology
A Global First: BMO Supports Bruce Power with World's First Nuclear Green Financing Framework
BMO ranked one of the most sustainable companies in the world according to Dow Jones Sustainability Indices
North American Metals & Mining first: BMO helps Sandstorm Gold Royalties achieve ESG goals with Sustainability-Linked Loan
BMO Celebrates International Day of the Girl 2021 - Participates in New Sustainability Innovation Hub to Inspire Young Women
BMO marks National Day for Truth and Reconciliation with $600,000 in donations to Indigenous organizations across Canada
Education, Employment and Economic Empowerment: BMO Releases Wîcihitowin ᐑᒋᐦᐃᑐᐏᐣ- First Annual Indigenous Partnerships and Progress Report
BMO's 17th Annual Equity Through Education Trading Day Raises C$1.6 Million to Promote Diversity, Equity and Inclusion
Media Advisory - BMO Celebrates 17 Years of Promoting Diversity and Inclusion Through BMO Capital Markets' Equity Through Education Trading Day
BMO Harnesses AI Technology for Capital Markets Structured Note Pricing and Scenario Analysis
BMO Announces $12 Billion Financing Commitment towards Affordable Housing in Canada
BMO supports Canada's bid to host the headquarters of the International Sustainability Standards Board
BMO Named to Canada's Best 50 Corporate Citizens Ranking by Corporate Knights
Bringing Indigenous Perspectives to Canadians: First Nations University of Canada, Reconciliation Education and BMO launch new eLearning to mark National Indigenous History Month
The Future of Food & Agriculture: BMO Hosts World-Leading Farm to Market Conference for 16th Consecutive Year
Rush University System for Health and BMO Financial Group Announce $10 Million Donation to Create the Rush BMO Institute for Health Equity
BMO Shares Progress on IFC led Operating Principles for Impact Management in First Disclosure Statement
BMO Announces $250,000 Donation to Organizations Supporting Global Emergency COVID-19 Relief Efforts
A North American First: BMO Helps Gibson Energy Fully Transition Credit Facility to a Sustainability-Linked Loan
Forbes names BMO Harris Bank one of the Best Employers for Diversity 2021 for the third year in a row
BMO Issues C$750 million Women in Business Bond In Support of Women-Owned Businesses
BMO Commits $1.2 Million to SheEO Programs Helping Women-Led Venture Companies Access Financing
BMO Named One of the World's Most Ethical Companies by the Ethisphere Institute for the Fourth Year in a Row
BMO Financial Group among first Canadian banks to sign United Nations Principles for Responsible Banking
BMO Financial Group ranked top bank in North America on Corporate Knights' 2021 Global 100 Most Sustainable Corporations in the World
BMO Financial Group 2020 Sustainability Report and Public Accountability Statement Now Available Online
BMO Capital Markets Named Best Canadian Bank for USD/CAD for 10th Consecutive Year
BMO Ranked Among Most Sustainable Companies on Dow Jones Sustainability Index - North America
BMO Financial Group Reaches Key Milestone in Matching 100 Per Cent of Electricity Usage with Renewables
BMO Financial Group Recognized as One of the World's Most Sustainably Managed Companies in New Wall Street Journal Ranking
BMO Capital Markets to Donate C$1.6 Million Following 16th Annual Equity Through Education Trading Day
Media Advisory - BMO Capital Markets Celebrates 16 Years of the Equity Through Education Trading Day
Forbes ranks BMO Harris Bank as one of America’s Best Employers for Women in 2020
Tracking the Recovery: BMO Economics Introduces Canadian Business Activity Index
BMO Capital Markets to host 2020 Prescriptions for Success Healthcare Virtual Conference
BMO Financial Group to Source 100 Per Cent of Electricity Usage From Renewables
Media Advisory - BMO Expert Podcast on COVID-19 and the Future of the Global Economy
Canada's Six Biggest Banks Take Decisive Action To Help Customers Impacted by COVID-19
Maple Leaf Foods and BMO Capital Markets enter into First Sustainability-Linked Loan in Canada