BMO Recognized as Global Carbon Performance Leader
TORONTO and CHICAGO - BMO Financial Group has been named to the inaugural Global 500 Carbon Performance Leadership Index (CPLI) by the Carbon Disclosure Project, an independent not-for-profit organization holding the largest database of primary corporate climate change information in the world. BMO – the only Canadian-headquartered company named to the Index – has been recognized for the actions it is taking to reduce global emissions and mitigate the risks of climate change.
The CPLI highlights companies which have integrated climate related priorities into their overall business strategy, demonstrated the most structured and defined climate change management mechanisms and provided transparent and quality disclosure on the highest number of actions taken to reduce their emissions.
BMO, which recently became carbon neutral relative to its energy consumption and transportation emissions, joins 12 other financial institutions on this prestigious index which comprises 48 companies from the Carbon Disclosure Project’s Global 500 Index.
“BMO is proud to be recognized as a world leader in the fight against climate change,” said Jim Johnston, Director, Environmental Sustainability, BMO Financial Group. “At BMO, we are committed to minimizing the impact of our operations on the environment. Not only is it the right thing to do, it’s an opportunity for us to create value for our customers, employees, shareholders, business partners and the communities in which we operate.”
BMO and the Environment:
BMO has achieved carbon neutrality relative to its energy consumption and transportation emissions across the company, worldwide. BMO accomplished this by targeting emissions reductions, purchasing renewable energy and using carbon offsets for the remainder.
BMO purchases nearly 24,000 megawatt hours of 100 per cent renewable energy annually in Canada, for use by 160 facilities across the country. In addition, Harris Bank has a three year agreement for the purchase of over 91,000 megawatt hours of 100 per cent renewable energy – enough to power all of its facilities in the U.S. As a result, approximately 39 per cent of BMO’s total emissions footprint is mitigated through renewable energy purchases.
BMO is one of the initial investors in the Greening Canada Fund (GCF), the first-ever voluntary carbon emissions reduction fund aimed exclusively at large Canadian corporations. The fund provides direct access to greenhouse gas emission offset credits and helps BMO invest in Canadian-based emission reduction projects, particularly those related to social and not-for-profit organizations such as Canadian public schools, hospitals, community housing and others. In its first year of operation, GCF has invested in energy conservation projects undertaken from coast to coast, including school boards in Montreal and Toronto, the municipalities of Hamilton and Guelph, and a farming operation in British Columbia. BMO’s initial investment commitment in the fund is $10 million.
BMO is listed on the Dow Jones Sustainability North America Index, the Jantzi Social Index and the FTSE4Good Series Index. BMO has also been included on the Jantzi/Maclean’s list of the 50 Most Responsible Corporations in Canada for two consecutive years, and has been named to Corporate Knights Magazine’s Best 50 Corporate Citizens list every year since 2003. Harris Bank has been named by the Environmental Protection Agency to a list of 50 U.S. green power partners using the most renewable electricity.
To help customers, investors, employees and other interested parties make sense of it all, BMO’s Corporate Responsibility website has a section devoted to addressing climate change (www.bmo.com/environment). The site provides one of the most complete compilations of corporate performance data among its peers.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.