November 30, 2021

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Business is my step

BMO joins the Partnership for Carbon Accounting Financials

3 min read

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BMO Fiscal Team (TSX: BMO) (NYSE: BMO) nowadays introduced it has joined the Partnership for Carbon Accounting Financials (PCAF).&#13

PCAF is a global partnership of monetary establishments that function jointly to produce and carry out a harmonized strategy to assess and disclose the greenhouse gasoline (GHG) emissions linked with their loans and investments. In November 2020, PCAF revealed the World wide GHG Accounting and Reporting Standard for the Money Market. With a lot more than 95 financial institutions and buyers from five continents, the field-led initiative is speedily growing in North America, Latin The us, Europe, Africa and Asia-Pacific.

“Joining the Partnership for Carbon Accounting Financials supports BMO’s leadership situation on weather-associated possibility and chance,” said Michael Torrance, Main Sustainability Officer, BMO. “By becoming a member of we are supporting the growth of major methodologies to observe and report financed emissions which will advise our risk evaluation and weather strategy likely forward.”

BMO proceeds to make sizeable progress on its Reason commitments to double the fantastic for a sustainable long run, thriving financial system and inclusive culture. In 2019 BMO fully commited to mobilizing $400 billion in sustainable finance by 2025, like lending, underwriting and investing $150 billion in companies pursuing sustainable results, and aligning $250 billion in client investments to sustainable objectives. By 2020 the lender had attained 71 per cent of its $150 billion focus on and surpassed its $250 billion goal.

BMO is a sturdy supporter of the Activity Pressure on Local weather-associated Money Disclosures (TCFD) and has been operating to apply the TCFD’s suggestions and build programs, strategies and disclosures that align with the TCFD framework. By signing up for PCAF and committing to measure and disclose the GHG emissions linked with its portfolio of loans and investments utilizing PCAF methodologies, BMO is advancing its strategy to weather-linked possibility and opportunity, actively playing its section to progress the ambition for a internet zero world.

“PCAF is pretty delighted that BMO has joined around 95 money institutions globally that are committed to measuring and disclosing the emissions of their portfolios to guidance assembly the goals of the Paris Local climate Agreement,” explained Chris Snyder, North The us Direct of the PCAF Secretariat. “BMO proceeds to demonstrate environmental management toward a minimal carbon long run as a result of its collaboration with PCAF.”

BMO Money Group’s actions on sustainability and in the direction of a sustainable upcoming include things like:

In 2019, BMO unveiled its Reason to Boldly Mature the Excellent in organization and lifestyle, announcing commitments to double the good for a thriving financial system, sustainable potential, and inclusive society
In 2020, BMO released BMO EMpower, a $5 billion dedication about 5 years to handle essential obstacles confronted by minority corporations, communities, and households in the United States
In 2019, BMO issued a $500 million USD Sustainability Bond with use of proceeds tied to the UN Sustainable Advancement Goals
In Oct 2020, BMO arrived at a vital milestone in matching 100 for every cent of electric power use with renewable energy
In May possibly 2020, BMO signed the Functioning Ideas for Impact Investment decision, a gold normal for effects investment fund administration, created by the International Finance Corporation of the World Lender
Environment-class sustainability disclosure, such as on weather-related hazards and alternatives in line with the Taskforce on Local weather-connected Economic Disclosures (TCFD) and the Sustainability Accounting Expectations Board (SASB) standards
1st Canadian financial institution to sign the UN Women’s Empowerment Ideas in 2019. In 2018, BMO fully commited to make $3 billion in money out there to women of all ages small business proprietors in Canada over three years

BMO’s management on sustainability has been acknowledged on many rankings, which include:

Ranked 15th on the Wall Road Journal’s 2020 listing of the 100 Most Sustainably Managed Organizations in the World, 3rd over-all on Social Capital, only lender in North The united states
Leading North American bank on Company Knights’ 2021 Worldwide 100 Most Sustainable Firms in the Earth for the next calendar year in a row
Rated in the top 10% of banking companies globally on the Dow Jones Sustainability Index
Scored an A- on the 2020 CDP Local weather Alter Questionnaire
Ethisphere® Institute’s record of the 2020 World’s Most Ethical Companies®
Bloomberg Gender-Equality Index (2021) for the sixth yr in a row
Forbes 2020 Finest Companies for Diversity (United States)
Company Knights 2020 Ideal 50 Corporate Citizens in Canada&#13

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