ActiveThis profile is actively maintained
ActiveThis profile is actively maintained
1 First Canadian Place
ON M5X 1H3 Toronto
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.
Bank of Montreal's most important sustainability commitments can be found at the website sections listed below.
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.
Banks and Climate
The 2022 Banking on Climate Chaos report showed that Bank of Montreal (BMO) provided US$ 117.09 in financing to the fossil fuel industry between 2016 and 2021. Find further details on Bank of Montreal (BMO) 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.
Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in the Coal Policy Tracker and Oil and Gas Policy Tool. Find further details on their assessment of Bank of Montreal (BMO) fossil fuel policy below.
Banks and Human Rights
BankTrack assessed BMO Financial Group in its 2022 Global Human Rights Benchmark, where it achieved 4.5 points out of 14 and was ranked as a follower. 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.
Global Human Rights Benchmark 2022
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.
Due dilligence: 1.5/5
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.
Tracking the Net Zero Banking Alliance
Bank of Montreal (BMO) is a member of the Net Zero Banking Alliance (NZBA) and has therefore 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 track's implementation of these commitments in the NZBA compliance tracker.
What COP15 means for banks: meeting the Global Biodiversity Framework requires protecting Indigenous rights and divesting from harmful industries
New report reveals the 40 financial institutions funding the world's climate-changing methane problem
Throwing fuel on the fire: GFANZ members provide billions in finance for fossil fuel expansion
Bank of Montreal's links to massive, illegal Amazon deforestation condemned by Indigenous leaders during biodiversity summit
New human rights assessment of banks shows slow progress and lack of action to address key gaps on reporting and remedy
Canadian banks having second thoughts about Mark Carney’s green alliance over legal, governance risks
Canadian banks will get kicked out of UN net zero club unless they up their game: Report
Banks’ Net-Zero lending ambitions hit snags in oil-rich Canada
Canadian banks keep financing fossil fuels
Investors ask banks to rethink funding fossil fuel projects, including Line 3
New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
Largest U.S. banks to face shareholder votes on climate change
Government Announces Next Steps on Trans Mountain Expansion Project
Wet’suwet’en hereditary chief takes fight against Coastal GasLink all the way to the banks
Domtar deal, deforestation and abuses: Whose side are banks on?
Equator Banks involved in financing at least 200 fossil fuel projects since Paris
Wet'suwet'en chiefs demand investors and financiers of Coastal Gaslink to divest from this and all future pipeline projects
Canadian fossil-heavy banks join GFANZ
‘Wreckers of the Earth’: 300 London-based companies destroying the planet
As extreme weather rages, RBC extends "sustainability" loan to Enbridge, actively expanding gas and tar sands pipelines
Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit
Indonesian paper giant APP takes over North American Domtar, putting the company’s credibility at risk
BMO to Chair Global Cross-Sector Biodiversity Initiative
Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement
BMO targets net zero emissions in lending by 2050, cautions against 'abrupt' change
Enbridge’s “sustainable” credit: tar sands and rights violations
What are banks getting wrong on human rights? [$]
Scotiabank becomes fifth major Canadian bank to refuse to fund oil drilling in Arctic refuge
The Big Banks’ Green Bafflegab
Equator Banks fail communities on consultation and grievance mechanisms, new study finds
Barclays, HSBC and Credit Suisse among worst offenders on oil sands finance
New BankTrack Equator Principles reporting tracking tool launched
Equator Principles: New BankTrack database sheds light on patchy project name reporting
Major blow to Keystone XL pipeline as judge revokes key permit
Reckless Keystone XL decision by TC Energy endorsed by JPMorgan Chase, Citi and Canadian peers
Banking on Climate Change – Fossil Fuel Finance Report Card 2020
'Land and indigenous rights defenders' continue occupation of BMO in Nelson
Canadian banks going green still boost loans to the oil industry
4 out of 5 banks failing on human rights, new BankTrack Human Rights Benchmark shows
BankTrack 2019 Human Rights Benchmark: criteria and scope announced
Global Banks, Led by JPMorgan Chase, Invested $1.9 Trillion in Fossil Fuels Since Paris Climate Pact
Banking on Climate Change – Fossil Fuel Finance Report Card 2019
Who’s banking the Coastal GasLink pipeline?
Banks massively financing fossil fuels unclear about future of ... fossil fuels
HSBC's shift on energy lending has Suncor throwing its toys out of the pram
Report finds major banks ramped up fossil fuel financing to $115 billion in 2017
Big banks complicit in massive tar sands destruction and pollution through hundreds of billions in financing
Indigenous Groups Lead Movement to Call on Banks to Drop Enbridge’s Controversial Line 3 Pipeline
28 major banks warned not to finance Trans Mountain pipeline expansion
Who's bankrolling TransCanada?
Equator Principles goes beyond project finance, improves transparency
While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning
Time to Improve the Equator Principles, BankTrack Says
BankTrack to Equator Principles banks; ‘get the Outside Job done’
Financiers search for sustainable future
Foes of Northern Gateway Pipeline target potential financial backers
Bank of Montreal Confronted on Indigenous Rights
New rules for Equator Principles, but no new commitments from banks
Equator Principles: Action, not words needed
Civil society groups call for bold steps forward with Equator Principles
Rainforest Action Network study ranks financed emissions of Canadian banks
Banking on Climate Chaos 2023
Background briefing: Just 7% of global banks' energy financing goes to renewables, new data shows
Letter from BankTrack and Mars se Drine to Bank of Montreal on Rio Tinto Jadar Lithium Mine
Banking on Climate Chaos 2022
Letter from BankTrack to Bank of Montreal on the bank's progress on its fossil fuel finance since COP24
Letter from BankTrack and 120 organisations to Bank of Montreal on Demands FBNT campaign
Letter from RAN and 13 others to 14 banks that underwrote Kinder Morgan Canada IPO on warning to finance the IPO
Coal Risk Update March 2013
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 firstname.lastname@example.org and email@example.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.
Finally, stakeholders may raise complaints via the OECD National Contact Points (see OECD Watch guidance).
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".