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Last update: 2023-01-17 15:59:37

Active

This profile is actively maintained

Last update: 2023-01-17 15:59:37

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

Code of Conduct

Bank policy

2022-05-19 00:00:00 | Bank of Montreal

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

Bank policy

2022-03-02 00:00:00 | Bank of Montreal

2021 Climate Report

Bank policy

2022-02-28 00:00:00 | Bank of Montreal

Statement Against Modern Slavery and Human Trafficking

Bank policy

2022-02-28 00:00:00 | Bank of Montreal

Supplier's code of conduct

Bank policy

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

Human rights statement

Bank policy

2021-05-14 00:00:00 | Bank of Montreal

Statement on coal lending

Bank policy

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

Environmental Policy

Bank policy

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

Responsible lending policies

[Date listed represents date as accessed on website]

Bank policy

2020-03-09 00:00:00 | BMO

Statement on climate change

Bank policy

2018-12-31 00:00:00 | BMO

Statement on anti-corruption and anti-bribery

Bank policy

2016-04-01 00:00:00 | BMO

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

Net-Zero Banking Alliance (NZBA)Tags: climate change | corporate social responsibility | energy | energy plants

Partnership for Carbon Accounting Financials (PCAF)Tags: carbon | corporate social responsibility

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

Campaigns

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.

BankLast update

Country

Score

Ranking

Details

Bank of Montreal (BMO)

CAN

4.5

Follower

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.

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.

News

BankTrack

Partners

Blog

External

Active

Active

Links

Commitments

Code of Conduct

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

2021 Climate Report

Statement Against Modern Slavery and Human Trafficking

Supplier's code of conduct

Human rights statement

Statement on coal lending

Environmental Policy

Responsible lending policies

Statement on climate change

Statement on anti-corruption and anti-bribery

Statement on freedom of association and collective bargaining

Banks and Climate

Banks and Human Rights

Global Human Rights Benchmark 2022

Tracking the Net Zero Banking Alliance

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

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

No Consent? No Pipeline!

Bank of Montreal Confronted on Indigenous Rights

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