TORONTO and CHICAGO, Dec. 17, 2019 /CNW/ - BMO Financial Group has published its 2019 Sustainability Report. The report can be downloaded at https://corporate-responsibility.bmo.com/reports/.
The 2019 Sustainability Report provides BMO's environmental, social and governance (ESG) disclosure, with a focus on issues identified by stakeholders as most affecting the bank's sustainability. The report also includes the Public Accountability Statements for Bank of Montreal and its applicable subsidiaries: Bank of Montreal Mortgage Corporation, BMO Life Assurance Company and BMO Life Insurance Company.
"Our Purpose is to Boldly Grow the Good in business and life," said Simon Fish, General Counsel for BMO Financial Group and Chair of BMO's Sustainability Council. "We're committed to driving positive change for our customers, employees and the communities we serve. This underpins the bank's longstanding commitment to sustainability. Today, from human rights to climate change to sustainable finance, the challenges we face and opportunities we have before us are increasingly complex and interconnected. In response, we are strengthening our commitment to sustainability and to navigating these changes together with our stakeholders."
Sustainability activities highlighted in our 2019 Sustainability Report include:
- Committing to mobilize $400 billion for sustainable finance, including aligning $250 billion in client investments toward sustainable outcomes and making $150 billion in capital available to companies pursuing sustainable outcomes
- Establishing a Sustainable Bond Program in support of our sustainable finance commitment
- Participating in US$9.4 billion in sustainable bond underwriting, $7.9 billion of renewable energy debt and equity, and providing $4.2 billion of loan commitments to renewable energy entities and projects
- Donating $67.2 million to registered charities and non-profit organizations in Canada and the United States
- Enhancing our disclosure on climate-related risks and opportunities in line with the Taskforce on Climate-related Financial Disclosures (TCFD)
- Adding new disclosure in line with the Sustainability Accounting Standards Board (SASB) standards
In 2019, BMO's sustainability disclosure contributed to the company's standing on numerous rankings, including:
- Ethisphere® Institute's list of the 2019 World's Most Ethical Companies®
- Dow Jones Sustainability Index, North America (2019) for the 15th year in a row
- Bloomberg Gender-Equality Index (2019) for the fourth year in a row
- Corporate Knights 2019 Best 50 Corporate Citizens in Canada
- Forbes 2019 Best Employers for Diversity(United States) and Best Employers for Women (United States)
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 $852 billion as of October 31, 2019, 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