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.
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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.”
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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
