BMO to Chair Global Cross-Sector Biodiversity Initiative
-
bookmark
-
print
- Keywords:
- net zero
BMO Financial Group has been appointed Chair of the Cross-Sector Biodiversity Initiative (CSBI). The CSBI is a partnership of the International Petroleum Industry Environmental Conservation Association (IPIECA), the International Council of Mining and Metals (ICMM), the Equator Principals Association (EPA), the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and the Inter-American Development Bank (IDB) to develop and share good practices related to biodiversity and ecosystem services in the extractive industries.
"After two years as part of the North American Steering Committee on the Equator Principles Association, we are honored to be named Chair of the CSBI," said Michael Torrance, Chief Sustainability Officer, BMO Financial Group. "Biodiversity must be core to environmental sustainability, alongside climate action. This will be a critical year with the planned launch of a post-2020 strategy for biodiversity and work underway to enhance corporate management and disclosure on this topic. We hope to advance the CSBI's work in promoting leading approaches to biodiversity management for companies in the mining, energy and financial sectors."
Areas of focus for the CSBI include providing practical guidance and innovative approaches to extractive projects on implementing the mitigation hierarchy – avoid, minimize, restore and offset; good practices for biodiversity baseline studies that allow biodiversity to be included effectively in impact assessments and management plans; and a roadmap to identify milestones and key interdependencies between project development schedules, financing timelines and actions required to mitigate impact on ecosystems. Through its Knowledge Sharing Working Group, various tools and member webinars, the CSBI enables invaluable information sharing, capacity building and learning among members and stakeholders.
BMO continues to make significant progress on its Purpose to double the good for a sustainable future:
-
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
-
BMO has been carbon neutral across its operations since 2010 and in October 2020 reached a key milestone in matching 100 per cent of electricity usage with renewable electricity
-
In 2019, BMO issued a $500 million USD Sustainability Bond with use of proceeds tied to the UN Sustainable Development Goals
-
In February 2021, BMO provided the first labelled Green Loan in Canadian history to Atlantic Packaging to finance a new 100 percent recycled containerboard facility, and worked with Atlantic to publish a Green Financing Framework
-
In March 2021, the bank announced its climate ambition, including plans to build unique climate analytics capabilities to be its clients' lead partner in the transition to a net zero world. As part of the announcement the bank introduced the BMO Climate Institute, a multi-disciplinary organization harnessing science, analytics powered by innovative technology and industry leading expertise. As part of its commitment to Sustainable Finance, BMO has committed to deploying $300 billion in sustainable lending and underwriting by 2025
BMO's leadership on sustainability has been recognized on numerous rankings:
-
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 – BMO was the only North American bank included
-
Top North American bank on Corporate Knights' 2021 Global 100 Most Sustainable Corporations in the World for the second year in a row
-
Ranked in the top 10 per cent of banks globally on the 2020 Dow Jones Sustainability Index, and the top North American bank
-
Scored an A- on the 2020 CDP Climate Change disclosure
-
Ethisphere® Institute's 2020 list of the World's Most Ethical Companies®
-
Corporate Knights 2020 Best 50 Corporate Citizens in Canada
-
Joint winner of Environmental Finance's 2021 Lead Manager of the Year, Social Bonds – Local Authority/Municipality category
For more information on BMO's commitment to a sustainable future, please visit the bank's Sustainability Report. Learn more about sustainable finance at BMO. For BMO's climate ambition, visit our Climate page.
BMO Financial Group has been appointed Chair of the Cross-Sector Biodiversity Initiative (CSBI). The CSBI is a partnership of the International Petroleum Industry Environmental Conservation Association (IPIECA), the International Council of Mining and Metals (ICMM), the Equator Principals Association (EPA), the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and the Inter-American Development Bank (IDB) to develop and share good practices related to biodiversity and ecosystem services in the extractive industries.
"After two years as part of the North American Steering Committee on the Equator Principles Association, we are honored to be named Chair of the CSBI," said Michael Torrance, Chief Sustainability Officer, BMO Financial Group. "Biodiversity must be core to environmental sustainability, alongside climate action. This will be a critical year with the planned launch of a post-2020 strategy for biodiversity and work underway to enhance corporate management and disclosure on this topic. We hope to advance the CSBI's work in promoting leading approaches to biodiversity management for companies in the mining, energy and financial sectors."
Areas of focus for the CSBI include providing practical guidance and innovative approaches to extractive projects on implementing the mitigation hierarchy – avoid, minimize, restore and offset; good practices for biodiversity baseline studies that allow biodiversity to be included effectively in impact assessments and management plans; and a roadmap to identify milestones and key interdependencies between project development schedules, financing timelines and actions required to mitigate impact on ecosystems. Through its Knowledge Sharing Working Group, various tools and member webinars, the CSBI enables invaluable information sharing, capacity building and learning among members and stakeholders.
BMO continues to make significant progress on its Purpose to double the good for a sustainable future:
-
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
-
BMO has been carbon neutral across its operations since 2010 and in October 2020 reached a key milestone in matching 100 per cent of electricity usage with renewable electricity
-
In 2019, BMO issued a $500 million USD Sustainability Bond with use of proceeds tied to the UN Sustainable Development Goals
-
In February 2021, BMO provided the first labelled Green Loan in Canadian history to Atlantic Packaging to finance a new 100 percent recycled containerboard facility, and worked with Atlantic to publish a Green Financing Framework
-
In March 2021, the bank announced its climate ambition, including plans to build unique climate analytics capabilities to be its clients' lead partner in the transition to a net zero world. As part of the announcement the bank introduced the BMO Climate Institute, a multi-disciplinary organization harnessing science, analytics powered by innovative technology and industry leading expertise. As part of its commitment to Sustainable Finance, BMO has committed to deploying $300 billion in sustainable lending and underwriting by 2025
BMO's leadership on sustainability has been recognized on numerous rankings:
-
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 – BMO was the only North American bank included
-
Top North American bank on Corporate Knights' 2021 Global 100 Most Sustainable Corporations in the World for the second year in a row
-
Ranked in the top 10 per cent of banks globally on the 2020 Dow Jones Sustainability Index, and the top North American bank
-
Scored an A- on the 2020 CDP Climate Change disclosure
-
Ethisphere® Institute's 2020 list of the World's Most Ethical Companies®
-
Corporate Knights 2020 Best 50 Corporate Citizens in Canada
-
Joint winner of Environmental Finance's 2021 Lead Manager of the Year, Social Bonds – Local Authority/Municipality category
For more information on BMO's commitment to a sustainable future, please visit the bank's Sustainability Report. Learn more about sustainable finance at BMO. For BMO's climate ambition, visit our Climate page.
What to Read Next.
BMO Outlines the Scope of its Net Zero Ambition
Darryl White | April 20, 2021 | Business Strategy
There is a pressing need for action to reduce greenhouse gas emissions and achieve “net zero” emissions by 2050, and all financial instit…
Continue Reading>More Insights
Tell us three simple things to
customize your experience.
Contact Us
Banking products are subject to approval and are provided in the United States by BMO Bank N.A. Member FDIC. BMO Commercial Bank is a trade name used in the United States by BMO Bank N.A. Member FDIC. BMO Sponsor Finance is a trade name used by BMO Financial Corp. and its affiliates.
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.
BMO Capital Markets is a trade name used by BMO Financial Group for the wholesale banking businesses of Bank of Montreal, BMO Bank N.A. (member FDIC), Bank of Montreal Europe p.l.c., and Bank of Montreal (China) Co. Ltd, the institutional broker dealer business of BMO Capital Markets Corp. (Member FINRA and SIPC) and the agency broker dealer business of Clearpool Execution Services, LLC (Member FINRA and SIPC) in the U.S. , and the institutional broker dealer businesses of BMO Nesbitt Burns Inc. (Member Canadian Investment Regulatory Organization and Member Canadian Investor Protection Fund) in Canada and Asia, Bank of Montreal Europe p.l.c. (authorised and regulated by the Central Bank of Ireland) in Europe and BMO Capital Markets Limited (authorised and regulated by the Financial Conduct Authority) in the UK and Australia and carbon credit origination, sustainability advisory services and environmental solutions provided by Bank of Montreal, BMO Radicle Inc., and Carbon Farmers Australia Pty Ltd. (ACN 136 799 221 AFSL 430135) in Australia. "Nesbitt Burns" is a registered trademark of BMO Nesbitt Burns Inc, used under license. "BMO Capital Markets" is a trademark of Bank of Montreal, used under license. "BMO (M-Bar roundel symbol)" is a registered trademark of Bank of Montreal, used under license.
® Registered trademark of Bank of Montreal in the United States, Canada and elsewhere.
™ Trademark of Bank of Montreal in the United States and Canada.
The material contained in articles posted on this website is intended as a general market commentary. The opinions, estimates and projections, if any, contained in these articles are those of the authors and may differ from those of other BMO Commercial Bank employees and affiliates. BMO Commercial Bank endeavors to ensure that the contents have been compiled or derived from sources that it believes to be reliable and which it believes contain information and opinions which are accurate and complete. However, the authors and BMO Commercial Bank take no responsibility for any errors or omissions and do not guarantee their accuracy or completeness. These articles are for informational purposes only.
This information is not intended to be tax or legal advice. This information cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. This information is being used to support the promotion or marketing of the planning strategies discussed herein. BMO Bank N.A. and its affiliates do not provide legal or tax advice to clients. You should review your particular circumstances with your independent legal and tax advisors.
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.
Notice to Customers
To help the government fight the funding of terrorism and money laundering activities, federal law (USA Patriot Act (Title III of Pub. L. 107 56 (signed into law October 26, 2001)) requires all financial organizations to obtain, verify and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask you to provide a copy of your driver's license or other identifying documents. For each business or entity that opens an account, we will ask for your name, address and other information that will allow us to identify the entity. We may also ask you to provide a copy of your certificate of incorporation (or similar document) or other identifying documents. The information you provide in this form may be used to perform a credit check and verify your identity by using internal sources and third-party vendors. If the requested information is not provided within 30 calendar days, the account will be subject to closure.