- Ranked in the top ten per cent globally for sustainability performance
- A perfect score gains BMO a top spot in Customer Relationship Management, Financial Inclusion, Environmental Reporting and Social Reporting
- Strong performance in Corporate Governance, Information Security, Human Capital Development, and Talent Attraction and Retention
TORONTO, Nov. 25, 2020 /CNW/ - BMO Financial Group ranks in the 91st percentile of banks globally on the Dow Jones Sustainability Indices (DJSI) – the highest among Canadian peers. The DJSI is a set of best-in-class benchmarks for investors who have recognized that sustainable business practices are critical to generating long-term shareholder value.
The DJSI ranks companies' sustainability performance across three dimensions – Governance & Economic, Environmental, and Social Sustainability. BMO earned the highest possible score in the areas of Customer Relationship Management, Financial Inclusion, Environmental Reporting and Social Reporting. The bank was also recognized for strong performance in Human Capital Development, Talent Attraction and Retention, Information Security/Cybersecurity, and Corporate Governance.
"Sustainability is a key pillar of BMO's Purpose to Boldly Grow the Good in business and life and we are delighted to be recognized for the achievement," said Simon Fish, General Counsel for BMO Financial Group and Chair of BMO's Sustainability Council. "Together with The Wall Street Journal's recent ranking of BMO as one of the most sustainably managed companies in the world, inclusion in the DJSI North America Index is an honour and a strong affirmation of our commitment to environmental and social sustainability now and in the future."
BMO Financial Group's actions on sustainability and towards a sustainable future include:
- 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 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 the 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 most recent Sustainability Report.
For more information on BMO's Purpose, please visit our Purpose page.
For more information on the Dow Jones Sustainability Index, go to https://www.spglobal.com/esg/csa/indices/djsi-index-family.
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 $974 billion as of July 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