Skip to main content
BMO Harris Bank Close Icon

Select Region / Language

  • Canada
    • English
    • Français
  • US
    • English
BMO Bank
Commercial Close icon
search icon

Insights

No match found

Industries

No match found

Solutions

No match found

Experts

No match found

Get On Our Email List


Select the business and financial topics of interest to you and sign up to stay current on the latest news
Sign Up Now>
  • Industry Expertise
  • We Can Help
Who We Are
Industry Expertise
We Can Help
Our Bankers
Contact us Get on our email list
BMO Commercial Banking

Find

Sign In
Bookmarks 0

Reading List

Email icon
  • Online banking

    Register for online banking with a
    BMO Debit Card or Credit Card


  • BMO InvestorLine
  • BMO Nesbitt Burns
  • BMO SmartFolio
  • BMO Mutual Funds
  • BMO Private Banking
  • BMO Credit Card
  • Online Banking for Business
  • Personal
  • Wealth
  • Business
  • Commercial
  • Capital Markets
CA-English Contact Us Sign-in
  • Online banking

    Register for online banking with a
    BMO Debit Card or Credit Card


  • BMO InvestorLine
  • BMO Nesbitt Burns
  • BMO SmartFolio
  • BMO Mutual Funds
  • BMO Private Banking
  • BMO Credit Card
  • Online Banking for Business

Select Region / Language

  • Canada
  • English
  • Français
  • US
  • English

Resources

BMO - Canada logo
search icon
  • Who We Are
  • Industry Expertise
    View all of Industry Expertise
    • Agriculture
    • Auto Dealerships
    • Business Properties
    • Cannabis & Emerging Industries
    • Commercial Real Estate
    • Engineering & Construction
    • Franchise Finance
    • Healthcare
    • Manufacturing
    • Media
    • Oil & Gas Services
    • Private Equity Sponsors
    • Professional Services
    • Public Sector
    • Retail & Wholesale Distribution
    • Technology & Innovation
    • Trucking
    • Agriculture
    • Auto Dealerships
    • Business Properties
    • Cannabis & Emerging Industries
    • Commercial Real Estate
    • Engineering & Construction
    • Franchise Finance
    • Healthcare
    • Manufacturing
    • Media
    • Oil & Gas Services
    • Private Equity Sponsors
    • Professional Services
    • Public Sector
    • Retail & Wholesale Distribution
    • Technology & Innovation
    • Trucking
  • We Can Help
    View all of We Can Help
    • Addressing COVID-19
    • Asset Based Lending
    • Business Strategy
    • COVID-19 Financial Relief Programs
    • Doing Business Internationally
    • Doing Business in the U.S.
    • Economic Insights
    • Equipment Financing & Leasing
    • Finance Growth
    • Loan Syndication & Agency Services
    • Manage Cash Flow
    • Manage Deposits
    • Manage Risk
    • Mergers & Acquisitions
    • Subordinated Debt/Equity
    • Wealth Management
    • Addressing COVID-19
    • Asset Based Lending
    • Business Strategy
    • COVID-19 Financial Relief Programs
    • Doing Business Internationally
    • Doing Business in the U.S.
    • Economic Insights
    • Equipment Financing & Leasing
    • Finance Growth
    • Loan Syndication & Agency Services
    • Manage Cash Flow
    • Manage Deposits
    • Manage Risk
    • Mergers & Acquisitions
    • Subordinated Debt/Equity
    • Wealth Management
  • Our Bankers
  • List of bookmarks
    0
    Bookmarks

    Reading List

    Close icon
    Email icon
Navigation Skipped
Navigation Skipped
search icon

Insights

No match found

Industries

No match found

Solutions

No match found

Experts

No match found

Get On Our Email List


Select the business and financial topics of interest to you and sign up to stay current on the latest news
Sign Up Now>
BMO Commercial Banking

BMO declares climate ambition

  • Share this page
    Share this page
    Share page link via email
    Share page link via Facebook
    Share page link via Twitter
    Share page link via Google Plus
    Share page link via Linkedin
  • bookmark

  • print

Solar panels.
March 10, 2021 | Business Strategy
Solar panels
March 10, 2021 | Business Strategy

“There is a pressing need for action to address climate change by reducing greenhouse gas emissions to achieve 2050 targets. Helping our customers to adapt and thrive through this transition requires a thoughtful, balanced and accelerated approach; informed by science, common sense and bold but practical solutions. 
 
Our clients are ready to act but many, especially smaller and medium-size companies, need advice and expertise to inform their response. Within this challenge is an opportunity for BMO to make a difference, to help our customers, and to drive long-term value and growth. Our ambition is clear: to be our clients’ lead partner in the transition to a net zero world.
 
Our optimism for the future is founded on a conviction that we will solve this problem by applying the same entrepreneurial spirit and innovation we’ve helped grow for over two centuries. The stakes are high and so is the unprecedented alignment for action we see across governments, business communities and individuals working to make change – and it’s going to take all of us working together. You can count on BMO helping to lead the way.”

-    Darryl White, CEO

 

  • BMO announces Net Zero ambition

  • BMO to build unique climate analytics capabilities to be our clients’ lead partner in the transition to a net zero world

  • Introducing the BMO Climate Institute – a new multi-disciplinary organization harnessing science, analytics powered by innovative technology and industry-leading expertise

  • BMO to more than double its Sustainable Finance commitment to deploying $300 billion in sustainable lending and underwriting by 2025, and mobilizing $700 billion via Responsible advisory and investment management services by 2025

 

Building on its long-standing commitment to a sustainable future, support for the Paris Climate Agreement, and a track record of strong operational sustainability performance, BMO today announced a new commitment to be its clients’ lead partner to a net zero world, and the comprehensive steps it will take across its financing activities and operations to drive the economic transition to achieve this critical goal. 


 “Climate change is one of the biggest challenges we face and, to help tackle it, BMO is launching the BMO Climate Institute. The Institute will convene intellectual and technology resources to equip us with the data and insights needed to be the leading advisor to clients and partners on climate-related risks and opportunities facing the financial sector and key client industries,” said Simon Fish, Chair of the BMO Climate Institute and Special Advisor to the CEO on ESG. 

 

Introducing the BMO Climate Institute

The BMO Climate Institute will bring together science, analytics, expertise and partners to understand and manage the financial risks and opportunities related to climate change and transition for both clients and the bank. The Institute will drive thought leadership inside and outside of the bank, convene parties for climate action and provide insights and best practices for industry, government, academia and investors to unlock climate solutions. 

Unique to the BMO Climate Institute is a new climate analytics platform built by BMO’s Sustainability team and BMO Enterprise AI Labs with external partners. Leveraging geospatial data and leading scientific modelling, the platform will generate actionable insights on the impacts of climate change on physical assets. 


Mobilizing Sustainable Finance

Leveraging BMO’s existing capabilities in sustainable finance and insights from the BMO Climate Institute, BMO will support its clients to advance sustainability objectives, including the transition to a net zero world, by more than doubling its commitment to mobilize sustainable finance. BMO’s new commitment is to deploy $300 billion in capital to clients pursuing sustainable outcomes through green, social and sustainable lending, underwriting, advisory services, and investment by 2025; and to mobilize $700 billion in assets under advice through BMO GAM's responsible engagement overlay (reo®) service and assets under management through BMO GAM’s Responsible strategies

 

Taking Definitive Action

“Net zero is an ambition that must include every part of the economy and society. BMO recognizes that, as a financial institution, we play a critical role to catalyze climate action, finance a just transition to a lower carbon economy, and to work with our clients to understand the risks and opportunities of this critical transformation. There is a lot of work ahead of us to achieve this goal, it will require deep insights and innovative solutions. BMO’s strategy will position us to be real partners with our clients on this journey and help them find solutions that drive their business strategies while achieving climate goals,” said Michael Torrance, BMO’s Chief Sustainability Officer.

 

BMO is taking the following steps as it launches its ambition for a net zero world:

  • Setting a new target to reduce operational greenhouse gas emissions by 30% by 2030 versus a 2019 baseline using science-based approaches, building on BMO’s Carbon Neutral operations (since 2010) and matching 100% of global electricity use with renewable energy purchases (since 2020)

  • Targeting net zero financed emissions in our lending by 2050 and committing to establishing intermediate (2030) and longer-term (2050) targets for financed emission reduction in partnership with our clients. BMO will report on progress annually beginning in 2021  

  • As one of the first major banks to sign the UN Principles for Responsible Banking, BMO is committed to aligning its business strategy with the UN Sustainable Development Goals (SDGs), the Paris Climate Agreement and relevant national and regional frameworks

  • As a member of the Partnership for Carbon Accounting Financials (PCAF), BMO will begin to quantify and disclose financed emissions data leveraging the PCAF approach

  • BMO Global Asset Management has joined the Net Zero Asset Managers Alliance and as a member of Climate Action 100+ aligned its investee engagement program with the ambitions of the Paris Climate Agreement, including a net zero world. BMO GAM will set an interim target toward a goal of 100% net zero assets under advisement by 2050

  • As a member of the Institutional Investors Group on Climate Change, BMO GAM will work with industry peers on the development of recommended actions, metrics and methodologies for asset owners and asset managers to become net zero investors

  • As a member of the Equator Principles Steering Committee and Chair of the Cross-Sector Biodiversity Initiative, BMO will work with partners to develop and share good practices related to biodiversity and ecosystem services in the extractive industries

 

For more information on BMO's commitment to a sustainable future, please visit the bank’s Sustainability Report.  For information about the BMO Climate Institute, visit our Climate page. To listen to BMO’s podcasts on Sustainability go here. For more information on BMO’s Purpose, please visit our Purpose page.

Read more

What to Read Next.

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

February 23, 2021 | Addressing Covid 19

BMO Financial Group has been recognized as one of the World’s Most Ethical Companies for the fourth consecutive year by Ethisphere, a global ...

Continue Reading>

Related Insights

stock image

Resource Title

Jan 99, 2099 | Primary Category, Secondary Category
short description goes here

Find a Banker

Tell us three simple things to
customize your experience

search 1
search 2
clear selection
clear selection
clear selection
search 1
search 2
search 1
search 2

Commercial

  • Personal
  • Wealth Management
  • Small Business
  • About BMO Harris

Commercial

  • Who We Are
  • Industry Expertise
    • Engineering & Construction
    • Engineering & Construction
    • Agriculture
    • Agriculture
    • Trucking
    • Trucking
    • Public Sector
    • Public Sector
    • Commercial Real Estate
    • Commercial Real Estate
    • Auto Dealerships
    • Auto Dealerships
    • Professional Services
    • Professional Services
    • Media
    • Oil & Gas Services
    • Retail & Wholesale Distribution
    • Technology & Innovation
    • Manufacturing
    • Manufacturing
    • Media
    • Oil & Gas Services
    • Retail & Wholesale Distribution
    • Technology & Innovation
    • Private Equity Sponsors
    • Private Equity Sponsors
    • Healthcare
    • Healthcare
    • Franchise Finance
    • Franchise Finance
    • Business Properties
    • Business Properties
    • Cannabis & Emerging Industries
    • Cannabis & Emerging Industries
  • We Can Help
    • Business Strategy
    • Business Strategy
    • Equipment Financing & Leasing
    • Equipment Financing & Leasing
    • Manage Cash Flow
    • Manage Cash Flow
    • Economic Insights
    • Economic Insights
    • Doing Business in the U.S.
    • Doing Business in the U.S.
    • Doing Business Internationally
    • Doing Business Internationally
    • Asset Based Lending
    • Asset Based Lending
    • Loan Syndication & Agency Services
    • Loan Syndication & Agency Services
    • Finance Growth
    • Finance Growth
    • Manage Deposits
    • Manage Deposits
    • Manage Risk
    • Manage Risk
    • Mergers & Acquisitions
    • Mergers & Acquisitions
    • Subordinated Debt/Equity
    • Subordinated Debt/Equity
    • Wealth Management
    • Wealth Management
    • COVID-19 Financial Relief Programs
    • COVID-19 Financial Relief Programs
    • Addressing COVID-19
    • Addressing COVID-19
  • Our Bankers
phone hover icon email hover icon phone hover icon email icon phone icon share icon
Contact Us
  • Find a Banker
  • Get on our email list

Follow BMO Harris

  • Phone
  • Book Appointment
  • Find a Branch
  • Report Lost/Stolen Debit Card
  • Report Lost/Stolen Credit Card
  • Modern Slavery Act Statement
  • Privacy
  • Legal
  • Security
  • Careers
  • Investor Relations
  • Accessibility
  • Support
  • Sitemap
  • CDIC Member cdic_canada cdic_canada

Please note important disclosures for content produced by BMO Capital Markets. BMO Capital Markets Regulatory | BMOCMC Fixed Income Commentary Disclosure  |  BMOCMC FICC Macro Strategy Commentary Disclosure  |  Research Disclosure Statements

 

third party Third party web sites may have privacy and security policies different from BMO. Links to other web sites do not imply the endorsement or approval of such web sites. Please review the privacy and security policies of web sites reached through links from BMO web sites.

Please note important disclosures for content produced by BMO Capital Markets. BMO Capital Markets Regulatory | BMOCMC Fixed Income Commentary Disclosure  |  BMOCMC FICC Macro Strategy Commentary Disclosure  |  Research Disclosure Statements