BMO Named to Top Ten of Canada’s Best 50 Corporate Citizens by Corporate Knights
BMO has been named to the top ten of Corporate Knights’ 2020 Canada’s Best 50 Corporate Citizens list.
Ranked first among the major banks and ninth overall, BMO was recognized for its sizable portfolio of sustainable loans, as well as its enterprise-wide commitment to creating a sustainable future throughout its operations. BMO scored highly compared to peers on Clean Revenue, which measures a company’s revenue from all goods and services that have clear environmental benefits.
“Being among the top ten corporate citizens is a great honour and a reflection of BMO’s commitment to building a sustainable future,” said Dan Barclay, CEO and Group Head, BMO Capital Markets. “We are bringing our Purpose to life through the $250 million BMO Impact Investment Fund, which provides seed capital to find and scale solutions to sustainability. We also continue to mobilize investments and capital in support of companies and clients pursuing sustainable outcomes, with a goal of $400 billion by 2025.”
“We’re committed to driving positive change for our customers, employees and communities,” said Simon Fish, General Counsel for BMO Financial Group and Chair of BMO’s Sustainability Council. “This year’s top ten ranking underlines the bank’s longstanding commitment to sustainability, which we recently reaffirmed by becoming the only bank in Canada to sign the Operating Principles for Impact Management led by the World Bank’s International Finance Corporation.”
The Best 50 Corporate Citizens ranking sets the standard for sustainability leadership in Canada. Honorees are selected from a pool of 261 Canadian companies with revenues over $1 billion. Each is evaluated on a set of up to 21 environmental, social and governance indicators, relative to their industry peers and using publicly available information.
BMO was particularly recognized for our enterprise-wide commitment to creating a sustainable future through sustainable finance, including by committing to mobilize $400 billion for sustainable finance by 2025. Operationally, BMO has been carbon neutral since 2010, and the bank recently announced a 2020 goal to match 100 per cent of our electricity usage with electricity produced from renewable sources across global operations.
BMO was recently named by Corporate Knights as one of the Global 100 Most Sustainable Corporations, and recognized by the Ethisphere Institute as one of the World’s Most Ethical Companies.