BMO Only Large Bank Named Among Canada's Best 50 Corporate Citizens
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TORONTO, June 28, 2023 /CNW/ - BMO has been named to Corporate Knights' ranking of Canada's Best 50 Corporate Citizens for the 22nd consecutive year. As the only large Canadian bank named to the Best 50, BMO received top-quartile scores in board gender diversity and executive racial diversity. It also received a top-quartile Sustainable Revenue score driven by its sustainable finance strategy.
"We're honoured to be ranked among the top corporate citizens in Canada for the 22nd year in a row. BMO's commitment to sustainability is guided by our Purpose to Boldly Grow the Good in business and life, and this ranking reflects the progress we are making for a thriving economy, a sustainable future and an inclusive society," said Sharon Haward-Laird, General Counsel and Executive Committee Sponsor for Sustainability at BMO.
The Best 50 Corporate Citizens honorees are selected from among 286 eligible companies with revenues over $1 billion, out of a pool of nearly 7,000 globally. Each is evaluated on a set of up to 25 environmental, social and governance indicators, relative to their industry peers and using publicly available information.
BMO and Sustainability
As part of its Purpose to Boldly Grow the Good in business and life, BMO is driving progress toward a more sustainable future. Carbon neutral in its own operations since 2010, BMO announced its Climate Ambition to be its clients' lead partner in the transition to a net-zero world in March 2021, alongside the launch of the BMO Climate Institute. The bank's Climate Ambition builds on a previous commitment to mobilize $300 billion (CAD) in sustainable lending and underwriting to companies pursuing sustainable outcomes by 2025. In 2021 BMO established a dedicated Energy Transition Group, to support clients' pursuit of opportunities driven by the increasing momentum of the global economy's shift in production and consumption of energy.
BMO's sustainability leadership continues to be recognized on global rankings, including number one bank on the World Benchmarking Alliance's 2022 Financial System Benchmark released at COP 27, the Dow Jones Sustainability Index, Ethisphere Institute's list of the World's Most Ethical Companies, and the most sustainable bank in North America for the fourth year in a row on Corporate Knights' 2023 Ranking of the World's 100 Most Sustainable Corporations. BMO is a signatory to the Principles for Responsible Banking, the Operating Principles for Impact Investment, and the Partnership for Carbon Accounting Financials. BMO has been recognized for world class sustainability disclosure in line with the Taskforce on Climate-related Financial Disclosures and the Sustainability Accounting Standards Board. In 2021 BMO was named Chair of the Cross-Sector Biodiversity Initiative to develop and share good practices related to biodiversity and ecosystem services in the extractive industries.
For information on BMO's Purpose and commitments to a sustainable future, visit its Sustainability Report, Purpose, Climate and Zero Barriers to Inclusion 2025 pages.
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.25 trillion as of April 30, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to over 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future and inclusive society.
SOURCE BMO Financial Group
For further information: For News Media Enquiries: Kelly Hechler, Toronto, Kelly.hechler@bmo.com, (416) 867-3996
