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Sustainability-Linked Loans

BMO’s 30th annual Global Metals and ...

Dan Barclay March 01, 2021 | Global Metals & Mining

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  BMO’s 30th annual Global Metals and Mining ...

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  Ian Lyngen and Ben Jeffery bring you ...

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IN Tune: ESG Performance in the ...

Jenny Ma, CFA February 26, 2021 | COVID-19 Insights, Research & Strategy

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  IN Tune is a podcast featuring Equity Research ...

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Driving Sustainable Outcomes: Canada’s First Labelled Green Loan

  Labelled Green Loans have come to Canada, adding an important new tool to companies wishing to finance a wide range of projects that provide clear environmental benefits. BMO’s Commercial Banking, Capital Markets and Sustainable Finance teams recently helped deliver the first labelled Green Loan in Canadian history. The labelled Green Loan was provided to Atlantic Packaging, with loan proceeds used to finance a new 100% recycled containerboard facility in Whitby, Ontario. In conjunction with the loan, BMO worked with Atlantic to publish a Green Financing Framework containing additional information on the loan and the company’s overarching commitment to a sustainable future. The Green Loan category is still nascent, making up approximately US$80bn of US$700bn in sustainable debt issued globally in 2020, with Green Bonds, Social Bonds and Sustainability Linked Loans making up the lion’s share of issuance.   SOURCE: BloombergNEF By structuring the first labelled Green Loan in Canadian history, BMO is once again at the forefront of delivering innovative products to our clients, and in turn driving a sustainable future for all. In December 2019, BMO Capital Markets entered into an agreement to provide Maple Leaf Foods with the first sustainability-linked loan in Canada. What is a Labelled Green Loan? Labelled Green Loans are any type of loan instrument that aligns with the Green Loan Principles (GLPs). The GLPs were published in 2018 by the Loan Market Association, Asia Pacific Loan Market Association, and Loan Syndications and Trading Association to promote the development and integrity of the green loan market. The Four Core Components of the GLPs Are: Use of Proceeds – the green loan proceeds must be used for green projects that provide clear environmental benefits. The GLPs provide non-exhaustive categories of eligibility, including renewable energy, clean transportation, eco-efficient adapted products, and more. Process for Project Evaluation and Selection – the borrower should clearly communicate its environmental sustainability objectives and the process by which it selects green projects for financing. Management of Proceeds – the proceeds of a green loan should be tracked by the borrower to maintain transparency. Reporting – the borrower is encouraged to keep readily available information on the use of proceeds and the expected impact.

BMO Named One of the World's Most Ethical Companies by the Ethisphere Institute for the Fourth Year in a Row

  TORONTO, Feb. 23, 2021 /CNW/ -  BMO Financial Group has been recognized as one of the World's Most Ethical Companies for the fourth consecutive year by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. BMO is one of four Canadian companies, the only bank in Canada, and one of only five banks worldwide, to be recognized in 2021, affirming the bank's commitment to support a thriving economy, sustainable future, and inclusive society. "The global pandemic has presented significant economic and social challenges for our employees, customers and communities. As trusted stewards of the financial system and enablers of long-term growth, banks play a vital role in driving economic recovery. At BMO, we embrace our front-line role supporting the resilience of the communities we serve," said Darryl White, Chief Executive Officer, BMO Financial Group. "Having our employees recognized for the fourth year in a row is a tribute to the ways they lead with empathy and adaptability as they serve the millions of people who count on us every day to achieve their financial goals. It reflects our fundamental belief in doing what's right – consistently, equitably and sustainably. At BMO we sum it up in a simple statement of purpose that underpins everything we do: Boldly Grow the Good in business and life." The annual recognition honours companies with individuals and leaders who are diligently working to build a world-class program and advance an environment that is defined by integrity. It is an affirmation of the leadership of companies contributing to the greater good. This award highlights the ongoing importance of culture and a shift in the purpose of corporations showcasing the importance of broader stakeholders and sustainability. In 2021, 135 honorees were recognized spanning 22 countries and 47 industries. "This award recognizes leaders' and businesses' continuous commitment to prioritizing ethical behaviour as a means to improve the world, while enhancing business performance," said Timothy Erblich, Chief Executive Officer, Ethisphere. "Congratulations to everyone at BMO for earning the World's Most Ethical Companies designation." BMO's commitment to creating positive change for its customers, employees, and communities has spanned more than 200 years. Since unveiling its Purpose commitments in 2019, BMO has made significant progress towards them, including: Surpassing its goal to align $250 billion in client investments with sustainable objectives Achieving 71 per cent of its commitment to mobilize $150 billion in capital by 2025 to companies pursuing sustainable objectives Reaching 64 per cent of its commitment to doubling the size of the bank's Indigenous Banking business by 2025 Increasing the representation of Black, Indigenous and People of Colour (BIPOC) in U.S. senior roles by 20 per cent In addition to its Purpose commitments, BMO announced new five-year diversity and representation goals in 2020 centred around eliminating barriers in society to inclusion. The bank's continuous focus on advancing diversity, equity and inclusion in its workforce and communities it serves, has helped the bank achieve important results: 41.9 per cent of senior leadership roles are held by women More than 40 per cent of independent Board roles are held by women More than 30 per cent of senior roles are held by BIPOC Beyond the World's Most Ethical Companies recognition, BMO has recently received a growing list of notable achievements, including:  Ranked 15th on the Wall Street Journal's 2020 list of the 100 Most Sustainably Managed Companies in the World, third overall on Social Capital Ranked in the top 10 per cent of banks globally on the Dow Jones Sustainability Index Top ranked North American bank on Corporate Knights 2021 Global 100 Most Sustainable Corporations in the World Scored an A- on the 2020 CDP Climate Change Questionnaire Bloomberg Gender-Equality Index (2021) for the sixth year in a row Forbes 2020 Best Employers for Diversity (United States) Corporate Knights 2020 Best 50 Corporate Citizens in Canada For more information on BMO's commitments to building social good, please read its 2020 Sustainability Report. Methodology & Scoring Grounded in Ethisphere's proprietary Ethics Quotient®, the World's Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe. This year, the process was streamlined and question set expanded to gauge how applicants are adapting and responding to the global health pandemic, environmental, social, and governance factors, safety, equity, and inclusion and social justice. 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 $973 billion as of January 31, 2021, 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. About the Ethisphere Institute The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World's Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.  SOURCE BMO Financial Group For further information: Olivia Fraczkowski, Toronto, Olivia.Fraczkowski@bmo.com, (416) 867-3996, Internet: www.bmo.com, Twitter: @BMOMedia

BMO Named One of the World's Most Ethical Companies by the Ethisphere Institute for the Fourth Year in a Row

February 23, 2021 | News Releases