BMO Ranked North America';s Most Sustainable Bank by Corporate Knights for Fourth Consecutive Year

Rhea-AI Summary

BMO has been recognized as North America's most sustainable bank for the fourth consecutive year in Corporate Knights' 2023 Ranking of the World's 100 Most Sustainable Corporations. The bank ranks eighth globally among 793 banks, excelling in sustainable revenue and diversity within its executive and board leadership. BMO has committed $5 billion over five years to support minority businesses and $5 billion to women business owners in Canada. The bank aims to mobilize $300 billion in sustainable lending by 2025. BMO also leads in sustainability rankings by the World Benchmarking Alliance, Dow Jones Sustainability Index, and Ethisphere Institute.

Positive

• Ranked number one bank in North America by Corporate Knights for sustainability.
• Ranked eighth globally among 793 banks, emphasizing high sustainability scores.
• Commitment of $5 billion to support minority businesses over five years.
• Additional commitment of $5 billion to support women business owners in Canada.
• Established a Climate Ambition to mobilize $300 billion in sustainable lending by 2025.

Negative

• None.

• Ranked the number one bank in North America on Corporate Knights' 2023 Ranking of the World's 100 Most Sustainable Corporations.
• Ranked eighth bank out of 793 banks, globally
• Exceptional scores in sustainable revenue and executive and board diversity

TORONTO and CHICAGO, Jan. 18, 2023 /PRNewswire/ - BMO (TSX: BMO) (NYSE: BMO) has been named to Corporate Knights' 2023 Ranking of the World's 100 Most Sustainable Corporations as the most sustainable bank in North America for the fourth year in a row. BMO, the eighth-ranked bank in the world and in the top 15 per cent of banks globally for sustainable revenue, received high marks for diversity on its board and among its leadership.  

"At BMO, our Purpose, to Boldly Grow the Good in business and life, informs our strategy and drives our commitments to progress for a thriving economy, a sustainable future and an inclusive society," said Sharon Haward-Laird, General Counsel, BMO and Executive Committee Sponsor for Sustainability. "It's a true honour to be globally recognized for the leading sustainability practices that help us deliver on our Purpose."

BMO has many offerings and programs that are supporting progress for a more just and sustainable economy, including:

• Deployed $5 billion over five years to address key barriers faced by minority businesses, communities and families in the United States
• Supporting women business owners in Canada with a $5 billion commitment
• Acting as a joint-lead manager for the Government of Canada's inaugural Green Bond transaction
• Being the first financial institution in the world to implement the Mastercard True Name feature, enabling people to use their true first name on their personal debit and ATM cards without the requirement of a legal name change

In 2021, BMO announced its Climate Ambition, to be our clients' lead partner in the transition to a net zero world, and launched the BMO Climate Institute. This Climate Ambition built 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 has been recognized on a number of global rankings, including number one bank on the World Benchmarking Alliance's 2022 Financial System Benchmark, the Dow Jones Sustainability Index, and Ethisphere Institute's list of the World's Most Ethical Companies.

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

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $1.14 trillion as of October 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

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SOURCE BMO Financial Group

FAQ

What are BMO's recent sustainability achievements?

BMO has been named North America's most sustainable bank by Corporate Knights for the fourth year in a row and ranks eighth among 793 banks globally.

How much is BMO investing to support minority businesses?

BMO is committing $5 billion over five years to support minority businesses, communities, and families in the United States.

What is BMO's commitment to women business owners?

BMO is supporting women business owners in Canada with a $5 billion commitment.

What is BMO's Climate Ambition?

BMO aims to mobilize $300 billion in sustainable lending by 2025 as part of its Climate Ambition.