BMO joins the Partnership for Carbon Accounting Financials

PCAF is a global partnership of monetary establishments that function with each other to create and put into practice a harmonized solution to assess and disclose the greenhouse gas (GHG) emissions linked with their loans and investments. In November 2020, PCAF revealed the International GHG Accounting and Reporting Common for the Economical Marketplace. With more than 95 banking institutions and buyers from five continents, the industry-led initiative is rapidly expanding in North The usa, Latin The united states, Europe, Africa and Asia-Pacific.

“Signing up for the Partnership for Carbon Accounting Financials supports BMO’s leadership placement on climate-linked danger and prospect,” said Michael Torrance, Chief Sustainability Officer, BMO. “By becoming a member of we are supporting the development of primary methodologies to observe and report financed emissions which will advise our risk assessment and climate approach likely forward.”

BMO carries on to make major development on its Reason commitments to double the good for a sustainable future, thriving economy and inclusive modern society. In 2019 BMO fully commited to mobilizing $400 billion in sustainable finance by 2025, which include lending, underwriting and investing $150 billion in firms pursuing sustainable outcomes, and aligning $250 billion in consumer investments to sustainable targets. By 2020 the bank experienced achieved 71 for each cent of its $150 billion target and surpassed its $250 billion focus on.

BMO is a powerful supporter of the Undertaking Pressure on Local weather-relevant Monetary Disclosures (TCFD) and has been doing the job to carry out the TCFD’s recommendations and build applications, techniques and disclosures that align with the TCFD framework. By becoming a member of PCAF and committing to measure and disclose the GHG emissions connected with its portfolio of loans and investments using PCAF methodologies, BMO is advancing its approach to climate-linked threat and chance, playing its element to progress the ambition for a internet zero environment.

“PCAF is really happy that BMO has joined around 95 economical establishments globally that are committed to measuring and disclosing the emissions of their portfolios to help conference the plans of the Paris Local weather Settlement,” mentioned Chris Snyder, North The us Direct of the PCAF Secretariat. “BMO proceeds to exhibit environmental leadership toward a very low carbon potential by its collaboration with PCAF.”

BMO Economic Group’s steps on sustainability and towards a sustainable long run incorporate:

In 2019, BMO unveiled its Reason to Boldly Improve the Good in small business and life, asserting commitments to double the great for a flourishing economy, sustainable potential, and inclusive culture
In 2020, BMO introduced BMO EMpower, a $5 billion commitment more than 5 a long time to address important limitations confronted by minority firms, communities, and family members in the United States
In 2019, BMO issued a $500 million USD Sustainability Bond with use of proceeds tied to the UN Sustainable Progress Plans
In Oct 2020, BMO reached a key milestone in matching 100 for every cent of energy usage with renewable electrical power
In May possibly 2020, BMO signed the Running Principles for Effect Financial commitment, a gold regular for effects investment fund administration, developed by the International Finance Corporation of the Entire world Financial institution
World-class sustainability disclosure, such as on climate-similar pitfalls and options in line with the Taskforce on Climate-similar Money Disclosures (TCFD) and the Sustainability Accounting Requirements Board (SASB) criteria
Very first Canadian financial institution to signal the UN Women’s Empowerment Principles in 2019. In 2018, BMO committed to make $3 billion in cash obtainable to women small business house owners in Canada about a few several years

BMO’s leadership on sustainability has been acknowledged on a lot of rankings, such as:

Ranked 15th on the Wall Road Journal’s 2020 listing of the 100 Most Sustainably Managed Organizations in the World, 3rd total on Social Cash, only lender in North The usa
Major North American bank on Corporate Knights’ 2021 Worldwide 100 Most Sustainable Firms in the World for the second 12 months in a row
Ranked in the leading 10{f13b67734a7459ff15bce07f17c500e58f5449212eae0f7769c5b6fbcf4cc0c4} of banking institutions globally on the Dow Jones Sustainability Index
Scored an A- on the 2020 CDP Local weather Alter Questionnaire
Ethisphere® Institute’s checklist of the 2020 World’s Most Moral Companies®
Bloomberg Gender-Equality Index (2021) for the sixth yr in a row
Forbes 2020 Ideal Employers for Range (United States)
Company Knights 2020 Most effective 50 Company Citizens in Canada&#13