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Home › Banks ›
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Bank of Montreal (BMO)Canada

Active

This profile is actively maintained
Last update: 2024-12-17 11:30:10
Bank of Montreal head offices. Photo: Jorge Castro via Flickr (CC BY-NC-SA 2.0)

Active

This profile is actively maintained
Last update: 2024-12-17 11:30:10
Bank info
BankTrack campaigns
All
About
Website http://www.bmo.com/home
Headquarters
1 First Canadian Place
ON M5X 1H3 Toronto
Canada
CEO/chair Darryl White
CEO
Supervisor
Bank of Canada
Ownership
listed on NYSE & Toronto Stock Exchange

BMO's shareholder structure can be accessed here.

Established in 1817 as Bank of Montreal, BMO Financial Group is a diversified financial services provider based in North America. BMO provides retail banking, wealth management and investment banking products and services through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets. Next to its activities in Canada, BMO operates in the United States as Harris Bank and BMO Harris.

Sustainability
Commitments
Policies
Voluntary standards

Bank of Montreal's most important sustainability commitments can be found at the website sections listed below.

Links

Commitments

2024-11-26 00:00:00

Sustainable & Climate finance framework

Bank policy
2024-11-26 00:00:00 | Bank of Montreal
2024-03-12 00:00:00

Statement on Human Rights

Bank policy
2024-03-12 00:00:00 | Bank of Montreal
2023-12-18 00:00:00

Code of Conduct

Bank policy
2023-12-18 00:00:00 | Bank of Montreal
2023-11-30 00:00:00

Statement Against Modern Slavery and Human Trafficking

Bank policy
2023-11-30 00:00:00 | Bank of Montreal
2023-05-15 00:00:00

Statement on Anti-Money Laundering, Anti- Terrorist Financing and Sanctions Measures

Bank policy
2023-05-15 00:00:00 | Bank of Montreal
2022-02-28 00:00:00

2021 Climate Report

Bank policy
2022-02-28 00:00:00 | Bank of Montreal
2021-11-06 00:00:00

Supplier's code of conduct

Bank policy
2021-11-06 00:00:00 | Bank of Montreal
2021-03-11 00:00:00

Statement on coal lending

Bank policy
2021-03-11 00:00:00 | Bank of Montreal
2020-12-14 00:00:00

Environmental Policy

Bank policy
2020-12-14 00:00:00 | Bank of Montreal
2020-03-09 00:00:00

Responsible lending policies

[Date listed represents date as accessed on website]
Bank policy
2020-03-09 00:00:00 | BMO
2018-12-31 00:00:00

Statement on climate change

Bank policy
2018-12-31 00:00:00 | BMO
2016-04-01 00:00:00

Statement on anti-corruption and anti-bribery

Bank policy
2016-04-01 00:00:00 | BMO
2016-03-31 00:00:00

Statement on freedom of association and collective bargaining

Bank policy
2016-03-31 00:00:00 | BMO
Bank of Montreal (BMO) has committed itself to the following voluntary standards:
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Dow Jones Sustainability IndicesTags: sustainable development | transparency
Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development
Global Reporting InitiativeTags: sustainable development | human rights
ISO 14001Tags: transparency
Partnership for Carbon Accounting Financials (PCAF)Tags: carbon | corporate social responsibility
Principles for Responsible Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
Task Force on Climate-related Financial Disclosures (TCFD)Tags: corporate social responsibility | finance
Taskforce on Nature-related Financial Disclosures (TNFD)Tags: corporate social responsibility | finance
UN Guiding Principles on Business and Human RightsTags: United Nations | human rights
UNEP Finance InitiativeTags: United Nations | sustainable development
Dodgy Deals

Bank Of Montreal (BMO) is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Bank Of Montreal (BMO)'s link to these deals.

Projects / Companies
Finance type
Year
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

Still banking on false solutions

BankTrack’s False Solutions Tracker shows that most of the 30 banks assessed count finance for harmful technologies towards their sustainable finance targets.
2025-05-20 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

International CSOs call on banks to rule out finance for controversial Indian steel and coal project

Of 22 financiers of JSW Steel, none committed not to finance the much-opposed Utkal Steel project in Odisha
2025-03-13 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

The world’s biggest climate finance coalition is in crisis. Is it worth saving?

BankTrack mentioned
2025-02-19 | Climate Home News
BankTrack news BankTrack blog Partner news Partner blog

RBC Quits Climate Group as Canadian Banks Follow Wall Street

2025-01-31 | BNN Bloomberg
BankTrack news BankTrack blog Partner news Partner blog

Top Canadian banks latest to pull out of Net Zero Banking Alliance

BankTrack mentioned
2025-01-28 | Global Trade Review (GTR)
Blog
BankTrack news BankTrack blog Partner news Partner blog

The NZBA’s moment of truth

With 11 major US and Canadian banks leaving the Net Zero Banking Alliance (NZBA), it’s a pivotal moment for the initiative to finally live up to its promise - or die trying
2025-01-21 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Most large banks still failing to implement UN human rights principles, new BankTrack benchmark finds

Despite gradual progress, banks show little action in addressing impacts, protecting vulnerable groups and supporting affected communities.
2024-11-27 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

The 2024 Global Coal Exit List: Too much coal and too little exit

2024-10-30 | Berlin | urgewald
Blog
BankTrack news BankTrack blog Partner news Partner blog

New Net-Zero Banking Alliance report shows no progress towards reaching net zero

In its latest so-called “progress” report, the NZBA leaves substantial information regarding net-zero alignment out and only focuses on target-related outputs.
2024-10-08 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Energy supply financing ratios: the next milestone in banks’ climate strategy

The energy supply financing ratio is a key indicator that synthesizes two major challenges in limiting global warming to 1.5°C: the phase-out of fossil fuels and the development of sustainable alternatives.
2024-10-07 | Reclaim Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

Barclays earned $1.7 billion from company tied to Indigenous land invasion

Financial powerhouses including Barclays, Vanguard and BlackRock made millions from financing Brazilian meatpacker JBS
2024-09-26 | London | Global Witness
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks must overhaul climate targets to deliver emissions cuts, new analysis finds

Reclaim Finance is urging banks to rethink their targets, and in particular to jettison the widely used “financed emissions” and “facilitated emissions” targets.
2024-09-19 | Reclaim Finance
BankTrack news BankTrack blog Partner news Partner blog

Commentary: Canada’s Big Five Bank CEOs On Trial

On June 13, 2024, I traveled to Ottawa to watch an unprecedented event.
2024-08-13 | Fossil Free RBC
Blog
BankTrack news BankTrack blog Partner news Partner blog

BankTrack set to publish 2024 Global Human Rights Benchmark in November

50 of the world’s largest banks were invited to provide feedback on draft assessments of their human rights disclosures
2024-07-23 | Nijmegen, Netherlands | Giulia Barbos – BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Gulf Coast residents and major organizations call on financial institutions to phase out financing of LNG projects in the Rio Grande Valley

“We will hold any financial institutions that choose to support these projects accountable for such impacts.”
2024-07-22 | New York City | Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

Biggest banks finance more carbon pollution than emissions of Italy, Germany, France and UK combined

New report by ReCommon exposes carbon pollution financed by the world’s biggest banks ahead of G7 finance ministers meeting
2024-05-21 | Rome, Italy | ReCommon
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks financed fossil fuels by $6.9 trillion dollars since the Paris Agreement; $705 billion provided in 2023 alone; JPMorgan Chase, Mizuho, and Bank of America are worst 3 funders

Annual Banking on Climate Chaos report with an updated methodology offers comprehensive look at who’s bankrolling the climate crisis
2024-05-13 | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks fall for ArcelorMittal’s shiny claims and finance its dirty flames

Don’t be fooled by ArcelorMittal's “low carbon” sponsorship of the Olympic Games
2024-05-08 | Julia Hovenier – BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks have not quit coal, 8 years after the Paris Agreement

Banks in China dominate global coal financing; those in Indonesia are outliers in having increased finance for coal since 2016
2024-05-03 | Nijmegen | Will O'Sullivan – BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

The banks financing dirty steel

The world’s major banks continue to support the largest and most polluting steel producers
2024-03-26 | Paris, France | Reclaim Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

Canada's Big Five Banks: Heading to Net Zero?

Assessments of climate governance, financing portfolios, and policy engagement
2024-03-06 | InfluenceMap
Blog
BankTrack news BankTrack blog Partner news Partner blog

Financiers warned of huge risks to communities and biodiversity as Rio Tinto approves world’s biggest mining project

2024-02-26 | Accra, Ghana and Nijmegen, Netherlands | BankTrack, Advocates for Community Alternatives (ACA)
Blog
BankTrack news BankTrack blog Partner news Partner blog

67 organisations call on banks to cease financing metallurgical coal

Banks risk stranded assets & climate catastrophe in steel lending without metallurgical coal exclusions
2023-12-07 | Nijmegen | BankTrack, Reclaim Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

Decarbonization: steel not making the cut

Analysis by Reclaim Finance shows that few financial institutions have steel targets, and that those that have been adopted are riddled with flaws
2023-08-23 | Reclaim Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report: Canadian bank RBC the #1 financier of fossil fuels, world’s biggest banks continued to pour billions into fossil fuel expansion

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
2023-04-13 | San Francisco | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

What COP15 means for banks: meeting the Global Biodiversity Framework requires protecting Indigenous rights and divesting from harmful industries

2023-02-07 | Hannah Greep – BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report reveals the 40 financial institutions funding the world's climate-changing methane problem

A new report by Planet Tracker and Changing Markets reveals the top financial institutions funding the world’s biggest methane producers, and the role they can play in turning the tide on global heating.
2023-01-17 | London | Changing Markets, Planet Tracker
Blog
BankTrack news BankTrack blog Partner news Partner blog

Throwing fuel on the fire: GFANZ members provide billions in finance for fossil fuel expansion

2023-01-17 | Paris, France /Nijmegen, Netherlands | BankTrack, Reclaim Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

Bank of Montreal's links to massive, illegal Amazon deforestation condemned by Indigenous leaders during biodiversity summit

2022-12-08 | Montreal, Canada | Forests & Finance Coalition
Blog
BankTrack news BankTrack blog Partner news Partner blog

New human rights assessment of banks shows slow progress and lack of action to address key gaps on reporting and remedy

BankTrack’s 2022 Global Human Rights Benchmark finds reporting at a standstill, remedy still lacking and no clear leaders
2022-11-17 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Canadian banks having second thoughts about Mark Carney’s green alliance over legal, governance risks

2022-09-29 | The Globe and Mail
Blog
BankTrack news BankTrack blog Partner news Partner blog

Canadian banks will get kicked out of UN net zero club unless they up their game: Report

2022-08-31 | Toronto | Greenpeace Canada
BankTrack news BankTrack blog Partner news Partner blog

Banks’ Net-Zero lending ambitions hit snags in oil-rich Canada

2022-04-11 | Bloomberg
BankTrack news BankTrack blog Partner news Partner blog

Canadian banks keep financing fossil fuels

BankTrack mentioned
2022-03-31 | The Tyee
BankTrack news BankTrack blog Partner news Partner blog

Investors ask banks to rethink funding fossil fuel projects, including Line 3

Banks are under pressure from investors to match corporate practices with their environment and social statements * Updated
2022-03-31 | IndianCountryToday
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
2022-03-30 | San Francisco, Bemidji, Nijmegen, Oakland, Paris, Sassenberg, Washington DC | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club, Urgewald
BankTrack news BankTrack blog Partner news Partner blog

Largest U.S. banks to face shareholder votes on climate change

2022-03-29 | American Banker
BankTrack news BankTrack blog Partner news Partner blog

Government Announces Next Steps on Trans Mountain Expansion Project

2022-02-18 | Ottowa, Ontario | Government of Canada, Government of Canada
BankTrack news BankTrack blog Partner news Partner blog

Wet’suwet’en hereditary chief takes fight against Coastal GasLink all the way to the banks

2021-12-20 | National Observer
Blog
BankTrack news BankTrack blog Partner news Partner blog

Domtar deal, deforestation and abuses: Whose side are banks on?

2021-11-25 | Luisa Colasimone - Environmental Paper Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Banks involved in financing at least 200 fossil fuel projects since Paris

BankTrack research sheds new light on finance for fossil fuels by Equator banks
2021-10-26 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Wet'suwet'en chiefs demand investors and financiers of Coastal Gaslink to divest from this and all future pipeline projects

Indigenous-led campaign, endorsed by 100+ groups, urges global investors and banks to divest from and stop financing Coastal GasLink and LNG Canada
2021-10-19 | Unceded xʷməθkʷəy̓ əm, Sḵwx̱wú7mesh and səlilwətaɬ territories (Vancouver, Canada) | Gidimt
Blog
BankTrack news BankTrack blog Partner news Partner blog

Canadian fossil-heavy banks join GFANZ

The news last Friday that Canada’s biggest banks have finally joined Mark Carney’s “Net Zero” Banking Alliance was met with a giant ho-hum by climate campaigners.
2021-10-15 | RBC Revealed
BankTrack news BankTrack blog Partner news Partner blog

‘Wreckers of the Earth’: 300 London-based companies destroying the planet

2021-10-14 | Corporate Watch
Blog
BankTrack news BankTrack blog Partner news Partner blog

As extreme weather rages, RBC extends "sustainability" loan to Enbridge, actively expanding gas and tar sands pipelines

Consortium of banks finance pipeline builder in the lead up to COP 26 climate summit
2021-09-24 | Toronto, Canada | Giniw Collective, Stand.earth
Blog
BankTrack news BankTrack blog Partner news Partner blog

Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit

210+ groups support urgent call to action
2021-09-23 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Indonesian paper giant APP takes over North American Domtar, putting the company’s credibility at risk

2021-07-30 | Sergio Baffoni – Environmental Paper Network
BankTrack news BankTrack blog Partner news Partner blog

BMO to Chair Global Cross-Sector Biodiversity Initiative

2021-04-28 | Yahoo Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement

Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016
2021-03-24 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

BMO targets net zero emissions in lending by 2050, cautions against 'abrupt' change

2021-03-10 | Yahoo Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

Enbridge’s “sustainable” credit: tar sands and rights violations

2021-03-10 | Reclaim Finance
BankTrack news BankTrack blog Partner news Partner blog

What are banks getting wrong on human rights? [$]

Banks' processes for implementing human rights considerations into their lending activities are far from perfect, reports Christopher Marchant
BankTrack mentioned
2021-02-17 | Environmental Finance
BankTrack news BankTrack blog Partner news Partner blog

Scotiabank becomes fifth major Canadian bank to refuse to fund oil drilling in Arctic refuge

2020-12-14 | The Star
BankTrack news BankTrack blog Partner news Partner blog

The Big Banks’ Green Bafflegab

Look behind their pro-climate ads and do what they do. Follow the money.
2020-11-25 | The Tyee
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Banks fail communities on consultation and grievance mechanisms, new study finds

BankTrack research into nine projects financed ‘under Equator’ finds routine failures to conduct proper community consultation and a lack of effective project-level grievance mechanisms
2020-11-24 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Barclays, HSBC and Credit Suisse among worst offenders on oil sands finance

ShareAction says Barclays has participated in 11 loan and bond deals to oil sands companies since its net zero announcement in March
2020-10-29 | London | ShareAction
Blog
BankTrack news BankTrack blog Partner news Partner blog

New BankTrack Equator Principles reporting tracking tool launched

2020-09-21 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Principles: New BankTrack database sheds light on patchy project name reporting

BankTrack publishes database of Equator-financed projects, together with analysis showing some banks report few or no project names – notable poor performers include ING, HSBC and Lloyds
2020-06-29 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Major blow to Keystone XL pipeline as judge revokes key permit

Campaigners welcomed Wednesday’s ruling as a victory for tribal rights and environmental protection
2020-04-16 | The Guardian
Blog
BankTrack news BankTrack blog Partner news Partner blog

Reckless Keystone XL decision by TC Energy endorsed by JPMorgan Chase, Citi and Canadian peers

Big banks lead multi-billion dollar bond issuances days after company pushes pipeline forward amid global pandemic
2020-04-03 | San Francisco | 350 Seattle, Amazon Watch, Indigenous Environmental Network, Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banking on Climate Change – Fossil Fuel Finance Report Card 2020

New report reveals global banks funneled USD 2.7 trillion into fossil fuels Since Paris Climate Agreement, with financing on the rise each year 
2020-03-18 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

'Land and indigenous rights defenders' continue occupation of BMO in Nelson

2020-02-14 | The Nelson Daily
BankTrack news BankTrack blog Partner news Partner blog

Canadian banks going green still boost loans to the oil industry

2020-02-12 | Bloomberg
Blog
BankTrack news BankTrack blog Partner news Partner blog

4 out of 5 banks failing on human rights, new BankTrack Human Rights Benchmark shows

Lloyds, Bank of America, Goldman Sachs and Société Générale among the poorest performers in BankTrack ranking, alongside Canadian and Chinese banks
2019-11-26 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

BankTrack 2019 Human Rights Benchmark: criteria and scope announced

2019-06-25 | Nijmegen | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Global Banks, Led by JPMorgan Chase, Invested $1.9 Trillion in Fossil Fuels Since Paris Climate Pact

2019-03-20 | Desmogblog.com
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banking on Climate Change – Fossil Fuel Finance Report Card 2019

World's top banks have poured $1.9 trillion into fossil fuel financing since the Paris Agreement was adopted, with financing on the rise each year
2019-03-20 | Nijmegen, the Netherlands | BankTrack, Honor the Earth, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

Who’s banking the Coastal GasLink pipeline?

These banks are funding a threat to Wet'suwet'en land and abuse of Indigenous rights
2019-01-24 | San Francisco, USA | Elana Sulakshana - Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks massively financing fossil fuels unclear about future of ... fossil fuels

Few banks acknowledge relation between fossil fuels and climate breakdown
2018-12-20 | Nijmegen
Blog
BankTrack news BankTrack blog Partner news Partner blog

HSBC's shift on energy lending has Suncor throwing its toys out of the pram

But new policy is no isolated move - finance for tar sands will dry up, just as it is doing for coal.
2018-08-09 | Ryan Brightwell – BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Report finds major banks ramped up fossil fuel financing to $115 billion in 2017

Despite 2017 being the costliest year on record for weather disasters, new report reveals that banks increased extreme fossil fuel financing last year, led by a more than doubling in lending to tar sands companies and pipelines.
2018-03-28 | Nijmegen, the Netherlands | BankTrack, Honor the Earth, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

Big banks complicit in massive tar sands destruction and pollution through hundreds of billions in financing

2017-11-02 | Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Indigenous Groups Lead Movement to Call on Banks to Drop Enbridge’s Controversial Line 3 Pipeline

Tribal Nations based in Minnesota oppose the project and the Minnesota Department of Commerce has condemned it
2017-09-21 | Minneapolis, MN | Honor the Earth, Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

28 major banks warned not to finance Trans Mountain pipeline expansion

Over 20 Indigenous and environmental groups deliver urgent letter.
2017-06-09 | BankTrack, Rainforest Action Network, others
Blog
BankTrack news BankTrack blog Partner news Partner blog

Who's bankrolling TransCanada?

Banking on TransCanada means banking on Keystone XL
2017-03-24 | Alison Kirsch - Rainforest Action Network
BankTrack news BankTrack blog Partner news Partner blog

Equator Principles goes beyond project finance, improves transparency

2012-08-13 | Environmental Finance
BankTrack news BankTrack blog Partner news Partner blog

While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning

2011-10-25 | Washington | prizmablog.com
BankTrack news BankTrack blog Partner news Partner blog

Time to Improve the Equator Principles, BankTrack Says

BankTrack mentioned
2011-10-24 | Washington | Social Funds
BankTrack news BankTrack blog Partner news Partner blog

BankTrack to Equator Principles banks; ‘get the Outside Job done’

Equator Principles update must lead to new Principles focused on people and planet
2011-10-23 | Washington | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Financiers search for sustainable future

BankTrack mentioned
2011-10-20 | Washington | Environmental Finance
BankTrack news BankTrack blog Partner news Partner blog

Foes of Northern Gateway Pipeline target potential financial backers

2011-03-29 | The Globe and Mail
BankTrack news BankTrack blog Partner news Partner blog

No Consent? No Pipeline!

2011-03-25 | Vancouver Media Co-op
BankTrack news BankTrack blog Partner news Partner blog

Bank of Montreal Confronted on Indigenous Rights

2011-03-23 | RAN blog
Blog
BankTrack news BankTrack blog Partner news Partner blog

New rules for Equator Principles, but no new commitments from banks

New governance rules represent missed chance for Equator Principles to take bold steps forward on transparency and accountability
2010-07-01 | Nijmegen, the Netherlands | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Principles: Action, not words needed

BankTrack calls upon Citi, new chair of Equator Principles to take bold steps forward
2010-03-15 | Nijmegen, The Netherlands | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Civil society groups call for bold steps forward with Equator Principles

Major reforms needed on transparency, accountability, implementation and climate change
2010-01-14 | Nijmegen | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Rainforest Action Network study ranks financed emissions of Canadian banks

Website lets customers compare carbon footprint of personal accounts
2008-11-19 | San Francisco | Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Activists to banks: behave better in the Boreal

Market activists invite bank executives to develop new best practices
2005-09-07 | San Fransisco | Rainforest Action Network
Resources
Documents
Links
2025-05-08 00:00:00

Letter from BankTrack and Mars se Drine to BMO on Jadar project

Correspondence
2025-05-08 00:00:00 | BankTrack and Mars se Drine
2025-03-13 00:00:00

Which banks have ruled out finance for the JSW Utkal Steel and Coal Project?

BankTrack publication
2025-03-13 00:00:00 | BankTrack
2025-03-06 00:00:00

2024 sustainability and climate reporting

Other bank document
2025-03-06 00:00:00 | Bank of Montreal
2025-02-20 00:00:00

Letter from BankTrack to BMO on JSW Utkal Steel

Correspondence
2025-02-20 00:00:00 | BankTrack
2024-11-26 00:00:00

Sustainable & Climate finance framework

Bank policy
2024-11-26 00:00:00 | Bank of Montreal
2024-10-01 00:00:00

NZBA 2024 Progress Report

Other document
2024-10-01 00:00:00 | NZBA
2024-05-21 00:00:00

UNSUPERVISED - The carbon pollution of the world’s largest banks

NGO document
2024-05-21 00:00:00 | ReCommon
2024-05-13 00:00:00

Banking on climate chaos 2024

Fossil fuel finance report 2024
BankTrack publication
2024-05-13 00:00:00 | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance & Sierra Club
2024-05-07 00:00:00

Annual report 2023

Annual report
2024-05-07 00:00:00 | Bank of Montreal
2024-05-02 00:00:00

Still Banking on Coal press release

Commercial Banks Still Deep into Coal 8 Years After Paris
Partner publication
2024-05-02 00:00:00 | Urgewald
2024-05-02 00:00:00

Commercial Banks Still Deep into Coal 8 Years After Paris

NGO document
2024-05-02 00:00:00 | Urgewald
2024-03-12 00:00:00

Statement on Human Rights

Bank policy
2024-03-12 00:00:00 | Bank of Montreal
2024-03-07 00:00:00

2023 Climate Report

Other bank document
2024-03-07 00:00:00 | Bank of Montreal (BMO)
2023-12-18 00:00:00

Code of Conduct

Bank policy
2023-12-18 00:00:00 | Bank of Montreal
2023-12-07 00:00:00

Letter from BankTrack to BMO on Ending support for metallurgical coal

Correspondence
2023-12-07 00:00:00 | BankTrack
2023-11-30 00:00:00

Statement Against Modern Slavery and Human Trafficking

Bank policy
2023-11-30 00:00:00 | Bank of Montreal
2023-11-20 00:00:00

Letter from BankTrack, ACA, CTEA to Bank of Montreal on the risks of investing in Rio Tinto and Winning International Group’s Simandou Project in Guinea

Correspondence
2023-11-20 00:00:00 | BankTrack, ACA, CTEA
2023-09-12 00:00:00

CSR report 2022

Annual report
2023-09-12 00:00:00 | BMO
2023-05-23 00:00:00

Why banks should account for their full share of facilitated emissions

Banks are making progress on setting net-zero targets but most focus on lending and only a handful include capital markets facilitation – funding activities where banks do not provide capital themselves but play a critical role in facilitating access to it. Capital markets are a vital source of funding and will be key in delivering the low-carbon transition. In 2021 alone, global bond and equity issuances stood at US$26.8 trillion. This memo outlines why the industry-organised Partnership for Carbon Accounting Financials should include a 100% weighting for capital market facilitation.
NGO document
2023-05-23 00:00:00 | ShareAction
2023-05-15 00:00:00

Statement on Anti-Money Laundering, Anti- Terrorist Financing and Sanctions Measures

Bank policy
2023-05-15 00:00:00 | Bank of Montreal
2023-04-13 00:00:00

Banking on Climate Chaos 2023

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
BankTrack publication
2023-04-13 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, Urgewald
2023-01-27 00:00:00

Background briefing: Just 7% of global banks' energy financing goes to renewables, new data shows

BankTrack publication
2023-01-27 00:00:00 | Profundo for Sierra Club, Fair Finance International, BankTrack, Rainforest Action Network
2023-01-17 00:00:00

Annual report 2022

Annual report
2023-01-17 00:00:00 | BMO
2022-11-17 00:00:00

BankTrack Global Human Rights Benchmark 2022

BankTrack publication
2022-11-17 00:00:00 | BankTrack
2022-07-14 00:00:00

Letter from BankTrack and Mars se Drine to Bank of Montreal on Rio Tinto Jadar Lithium Mine

Correspondence
2022-07-14 00:00:00 | BankTrack and Mars se Drine
2022-07-05 00:00:00

CSR report 2021

Annual report
2022-07-05 00:00:00 | BMO
2022-03-30 00:00:00

Banking on Climate Chaos 2022

Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
BankTrack publication
2022-03-30 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, urgewald
2022-03-30 00:00:00

Investor Statement on Line 3, Oil Sands Projects, and FPIC

Other document
2022-03-30 00:00:00 | Investors & Indigenous Peoples Working Group
2022-03-29 00:00:00

Annual report 2021

Annual report
2022-03-29 00:00:00 | Bank of Montreal
2022-02-28 00:00:00

2021 Climate Report

Bank policy
2022-02-28 00:00:00 | Bank of Montreal
2021-12-12 00:00:00

Letter from BankTrack to Bank of Montreal on lithium mining in Serbia’s Jadar Valley

Correspondence
2021-12-12 00:00:00 | BankTrack
2021-11-06 00:00:00

Supplier's code of conduct

Bank policy
2021-11-06 00:00:00 | Bank of Montreal
2021-10-15 00:00:00

Bank of Montreal joins NZBA

Other bank document
2021-10-15 00:00:00
2021-06-24 00:00:00

Guidance on Biodiversity Target Setting for PRB signatories

Other document
2021-06-24 00:00:00 | UNEPFI
2021-03-11 00:00:00

Statement on coal lending

Bank policy
2021-03-11 00:00:00 | Bank of Montreal
2021-03-10 00:00:00

BMO declares climate ambition

BMO announces Net Zero ambition
Other bank document
2021-03-10 00:00:00 | BMO
2021-01-04 00:00:00

Climate Report

Other bank document
2021-01-04 00:00:00 | Bank of Montreal
2020-12-21 00:00:00

Sustainability Report 2020

Annual report
2020-12-21 00:00:00 | Bank of Montreal
2020-12-14 00:00:00

Environmental Policy

Bank policy
2020-12-14 00:00:00 | Bank of Montreal
2020-12-01 00:00:00

Annual Report 2020

Annual report
2020-12-01 00:00:00 | Bank of Montreal
2020-11-24 00:00:00

"Trust Us, We're Equator Banks": Part II

BankTrack publication
2020-11-24 00:00:00 | BankTrack
2020-09-24 00:00:00

Fracking Fiasco: The banks that fueled the U.S. shale bust

NGO document
2020-09-24 00:00:00 | Rainforest Action Network
2020-03-18 00:00:00

Banking on Climate Change - Fossil Fuel Finance Report 2020

BankTrack publication
2020-03-18 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club
2020-03-09 00:00:00

CSR report 2019

Annual report
2020-03-09 00:00:00 | Bank of Montreal
2020-03-09 00:00:00

Annual report 2019

Annual report
2020-03-09 00:00:00 | Bank of Montreal
2020-03-09 00:00:00

Climate report 2019

Other bank document
2020-03-09 00:00:00 | Bank of Montreal
2020-03-09 00:00:00

Equator Principles report 2019

Other bank document
2020-03-09 00:00:00 | Bank of Montreal
2020-03-09 00:00:00

Responsible lending policies

[Date listed represents date as accessed on website]
Bank policy
2020-03-09 00:00:00 | BMO
2019-12-10 00:00:00

Letter from BankTrack to Bank of Montreal on the bank's progress on its fossil fuel finance since COP24

Correspondence
2019-12-10 00:00:00 | BankTrack
2019-03-11 00:00:00

Annual report 2018

Annual report
2019-03-11 00:00:00 | BMO
2019-03-11 00:00:00

CSR report 2018

Annual report
2019-03-11 00:00:00 | BMO
2018-12-31 00:00:00

Statement on climate change

Bank policy
2018-12-31 00:00:00 | BMO
2018-10-16 00:00:00

Letter from BankTrack and 120 organisations to Bank of Montreal on Demands FBNT campaign

Correspondence
2018-10-16 00:00:00 | BankTrack and 120 organisations
2017-12-31 00:00:00

Environmental, Social and Governance Report and Public Accountability Statement 2017

Annual report
2017-12-31 00:00:00 | Bank of Montreal
2017-12-07 00:00:00

Annual Report 2017

Annual report
2017-12-07 00:00:00 | Bank of Montreal
2017-10-31 00:00:00

CSR report 2016

Annual report
2017-10-31 00:00:00 | BMO
2017-06-06 00:00:00

Letter from RAN and 13 others to 14 banks that underwrote Kinder Morgan Canada IPO on warning to finance the IPO

Correspondence
2017-06-06 00:00:00 | Rainforest Action Network et al
2017-05-22 00:00:00

Annual Report 2016

Annual report
2017-05-22 00:00:00 | BMO
2017-04-06 00:00:00

2016 Environmental, Social and Governance Report and Public Accountability Statement

Annual report
2017-04-06 00:00:00
2016-04-01 00:00:00

Statement on anti-corruption and anti-bribery

Bank policy
2016-04-01 00:00:00 | BMO
2016-03-31 00:00:00

Statement on freedom of association and collective bargaining

Bank policy
2016-03-31 00:00:00 | BMO
2016-02-01 00:00:00

Annual Report 2015

Annual report
2016-02-01 00:00:00 | BMO
2016-01-27 00:00:00

2015 Environmental, Social and Governance Report and Public Accountability Statement

Annual report
2016-01-27 00:00:00 | BMO
2015-06-26 00:00:00

2015 Corporate Responsibility Report

Annual report
2015-06-26 00:00:00 | BMO
2015-04-09 00:00:00

2014 Corporate Social Responsibility Report

Annual report
2015-04-09 00:00:00 | BMO
2015-04-09 00:00:00

2014 Annual Report

Annual report
2015-04-09 00:00:00 | BMO
2014-01-01 00:00:00

Annual Report 2013

Annual report
2014-01-01 00:00:00
2014-01-01 00:00:00

Environmental, Social and Governance Report 2013

Annual report
2014-01-01 00:00:00
2014-01-01 00:00:00

Corporate Responsibility Report 2013

Annual report
2014-01-01 00:00:00
2013-03-07 00:00:00

Coal Risk Update March 2013

Arch Coal, Blair Mountain, and Bank Human Rights Commitments
BankTrack publication
2013-03-07 00:00:00 | Rainforest Action Network, BankTrack
2011-04-05 00:00:00

Annual Report 2010

Annual report
2011-04-05 00:00:00 | BMO Financial Group
2011-04-05 00:00:00

CSR Report 2010

Annual report
2011-04-05 00:00:00 | BMO Financial Group
2010-12-18 00:00:00

Letter from BankTrack to EPFIs on issues around Equator Principles Review process

Correspondence
2010-12-18 00:00:00 | Banktrack
2010-04-01 00:00:00

BMO Financial Group cluster munitions investments

Other document
2010-04-01 00:00:00 | Netwerk Vlaanderen, IKV PAX Christi
2008-11-19 00:00:00

Financing Global Warming: Canadian Banks and Fossil Fuels

NGO document
2008-11-19 00:00:00 | RAN

BMO corporate responsibility pages

Accountability
Grievances
Response tracking

BMO does not operate a complaints or grievances channel for individuals or communities that may be adversely affected by the bank's finance.

However, the bank's whistleblowing channel SpeakUp can be used by individuals and communities to bring up human rights issues. Furthemore, BMO can be contacted via several channels including sustainability@bmo.com and corporate.responsibility@bmo.com. 

Individuals and communities may also submit questions to the Ethics and Conduct Office, Office of the Ombudsperson and the Office of the Chief Sustainability Officer.

Stakeholders may raise complaints via the OECD National Contact Points (see OECD Watch guidance).

BMO is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.

This page evaluates Bank of Montreal (BMO)'s responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring
Rio Tinto's Jadar mine, Serbia (December 2021)
0
0
0
0
Dodgy Deal profile
Response
0
Out of 1
Rationale for score
The bank did not respond.
Action
0
Out of 1
Rationale for score
No information available on whether the bank engaged with its client or took appropriate action.
Monitoring
0
Out of 1
Rationale for score
No information to indicate the bank is monitoring the actions of its clients, or actions it might itself have taken in response to the impacts raised.
More info
Letter to financiers of Rio Tinto, December 2021
JSW Utkal steel and coal, India (February 2025)
0
0
0
n/a
Dodgy Deal profile
Response
0
Out of 1
Rationale for score
The bank did not respond.
Action
0
Out of 1
Rationale for score
No information is available on whether the bank engaged with its client or took appropriate action.
Monitoring
n/a
Rationale for score
The impact was not raised over a year ago and therefore is not scored on monitoring progress.
More info
International CSOs call on banks to rule out finance for controversial Indian steel and coal project, March 2025

Average
0%
0
0
0
0
Banks and Climate

Banks and Climate

The 2024 Banking on Climate Chaos report showed that BMO Financial Group provided US$ 148.613 Billion in financing to the fossil fuel industry between 2016 and 2023. In 2023 only, BMO Financial Group provided US$ 7.601 Billion for oil, gas and coal companies expanding fossil fuels. Find further details on BMO Financial Group fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.

Fossil fuel finance data Bank of Montreal (BMO)

Banking on Climate Chaos fossil fuel finance data

Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of Bank of Montreal’s fossil fuel policy below.

Assessment of Bank of Montreal (BMO) coal policy in the Coal Policy Tool

Assessment of Bank of Montreal (BMO) oil and gas policy in the Oil and Gas Policy Tracker

False Solutions Tracker expansion

BankLast update
Country
Wind Energy
Solar Energy
Geothermal Energy
Ocean Energy
Energy grids and storage
Hydropower
Hydrogen
Solid Biomass
Biofuels
CCUS
Nuclear Power
Details
Bank of Montreal (BMO)
CAN
0
1101100000000
Canada
Profile
Wind Energy
Solar Energy
Geothermal Energy
Ocean Energy
Energy grids and storage
Hydropower
Hydrogen
Solid Biomass
Biofuels
CCUS
Nuclear Power
Explanation

The purpose of the False Solutions Tracker is to give a clear overview of energy technologies that fall under banks' individual sustainable finance commitments. The tracker lists 11 energy technologies that are usually associated with the energy transition and the decarbonisation of the economy. These technologies are defined here and classified in three categories:

  1. Real solutions: Technologies that deliver on a Just Transition towards Energy Democracy. BankTrack considers these technologies as real solutions only if and when they do deliver Energy Democracy.

  2. Solutions under strict conditions: Energy technologies that could be real solutions if they deliver on a Just Transition towards Energy Democracy but that could also be false solutions. This is the case of hydrogen and hydropower. On one hand, fossil-free and green hydrogen could be a real solution under certain conditions. However, fossil-based hydrogen and nuclear hydrogen are always false solutions. On the other hand, hydropower lifespan extension could also be a real solution under strict conditions while hydropower expansion is a false solution.

  3. False solutions: Energy technologies that are not aligned with a just transition towards Energy Democracy.

For each one of the 11 energy technologies, the tracker indicates if it is included in bank's individual sustainable finance commitments:

 

For Real solutions:

  • ​​: Yes, the bank includes its finance towards this energy technology in its sustainable finance reporting.
  • ​: Yes, the bank includes its finance towards this energy technology in its sustainable finance reporting, but under certain conditions. In this case, those conditions are mentioned in the "relevant policy document" section for each bank.
  • ​: No, the bank does not include its finance towards this energy technology in its sustainable finance reporting.
  • ​ : It is unclear whether the bank includes or not its finance towards this energy technology in its sustainable finance reporting.

 

For solutions under strict conditions and for false solutions:

  • ​: Yes, the bank includes its finance towards this energy technology in its sustainable finance reporting.
  • ​: Yes, the bank includes its finance towards this energy technology in its sustainable finance reporting, but under certain conditions. In this case, those conditions are mentioned in the "relevant policy document" section for each bank.
  • ​: No, the bank does not include its finance towards this energy technology in its sustainable finance reporting.
  • ​: It is unclear whether the bank includes or not its finance towards this energy technology in its sustainable finance reporting.
For more details see this page.
Banks and Human Rights

Banks and Human Rights

BankTrack assessed BMO Financial Group in its 2024 Global Human Rights Benchmark, where it achieved 5 points out of 15 and was ranked as a “follower”.

The bank scored 0.5 out of 3 points on the new “specific rights indicators”, which assess how banks address human rights defenders, Indigenous Peoples’ right to Free, Prior and Informed Consent and environmental rights in their policies and practices. 

In addition, BMO Financial Group scored 0 out of 3 on how it responds to alleged human rights violations linked to its finance, which were raised by civil society organisations. More information is detailed in the “Accountability” section of this profile.

The BankTrack Human Rights Benchmark

The table below shows BankTrack's assessment of how BMO Financial Group has implemented the UN Guiding Principles on Business and Human Rights. Please click on 'expand all details' and 'explanation' for further information on the methodology.

Our policy assessments are always a work in progress. We very much welcome any feedback, especially from banks included in the assessments. Please get in touch at humanrights@banktrack.org.

Global Human Rights Benchmark 2022

BankLast update
Country
Score
Ranking
Details
Bank of Montreal (BMO)
CAN
4.5
Follower 4.5
0
Canada
Score
Follower
4.5
Explanation

Bank of Montreal (BMO)'s human rights policies, processes and reporting were assessed as part of the BankTrack Global Human Rights Benchmark 2022. The bank is assessed as a Follower, with a total score of 4.5 out of 14.

Policy: 2/3
Due dilligence: 1.5/5
Reporting: 0.5/3
Remedy: 0.5/3


Response Tracking:
The bank was also assessed on its responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations, for which it received an average score of 0/3. See the Response Tracking section of this profile for more details.

Explanation
Laggard
Follower
Front runner
Leader
0 - 3 points
3.5 - 6.5 points
7 - 10 points
10.5 - 14 points
For more details see this page.

Global Human Rights Benchmark 2024

BankLast update
Country
Score
Ranking
Details
Bank of Montreal (BMO)
CAN
5
Follower 5
0
Canada
Score
Follower
5
Explanation

Bank of Montreal (BMO)'s human rights policies, processes and reporting were assessed as part of the BankTrack Global Human Rights Benchmark 2024. The bank is assessed as a , with a total score of 5 out of 15.

Policy: 2/3
Due dilligence: 2/5
Reporting: 0.5/4
Remedy: 0.5/3

Specific rights: 0.5/3

Response Tracking:
The bank was also assessed on its responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations, for which it received an average score of 0/3. See the Response Tracking section of this profile for more details.

Explanation
Laggard
Follower
Moderate achiever
Leader
0 - 3 points
3.5 - 7 points
7.5 - 10.5 points
11 - 15 points
For more details see this page.
Tracking the NZBA

Tracking the Net Zero Banking Alliance

BMO Financial Group left the Net Zero Banking Alliance (NZBA) on 17 January 2025. Before that, as a NZBA member it had committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack will keep track of Goldman Sachs and other ex-NZBA member banks' climate action in a specific section of the NZBA tracker. 

 

Tracking NZBA banks commitments

Banks and Steel

Banks and Steel

As part of the Net Zero Banking Alliance (NZBA), BMO Financial Group is required to set interim targets for 2030 for high emission priority sectors. For BMO Financial Group, this includes its lending to the steel sector. You can see BMO Financial Group’s iron and steel decarbonisation targets, and its progress towards meeting them in our NZBA steel targets compliance tracker:

NZBA Iron & Steel Targets

Partner organisation Reclaim Finance’s 2023 report on metallurgical coal financing showed that BMO Financial Group provided US$ 4.7 billion in loans and underwriting to developers of new metallurgical coal between 2016 and 2022. Find further details on BMO Financial Group’s metallurgical coal financing and and how it compares to other large banks globally in the report.

Reclaim Finance also tracks the metallurgical coal policies of financial institutions, including banks, in their Coal Policy Tool. BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of BMO Financial Group metallurgical coal policy below.

According to a report by Reclaim Finance, between 2016 and June 2023, BMO provided $2.6 billion in finance to the fossil-steel industry, making it the 50th largest financier worldwide. Find further details on BMO's steel financing and how it compares to other large banks globally in the report. 

Metallurgical Coal Financing: Time to call it off 2023

Coal policy tool

Steeling our future: The banks propping up coal-based steel

Good Moves

Good moves

Year:
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