{"id":400915,"date":"2020-12-16T08:33:41","date_gmt":"2020-12-16T13:33:41","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=400915"},"modified":"2020-12-16T08:33:41","modified_gmt":"2020-12-16T13:33:41","slug":"bmo-financial-group-recognized-by-cdp-for-best-practice-in-climate-change","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bmo-financial-group-recognized-by-cdp-for-best-practice-in-climate-change\/","title":{"rendered":"BMO Financial Group Recognized by CDP for Best Practice in Climate Change"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n BMO ranked at Leadership Level with A- score, surpassing international financial services sector average <\/i>\n <\/p>\n

\n TORONTO<\/span>, Dec. 16, 2020<\/span> \/PRNewswire\/ –\u00a0BMO Financial Group (TSX:BMO) (NYSE:BMO) today announced it has been recognized by CDP<\/a>\u00a0for its strong actions and transparency in the areas of climate change governance, climate change risk management, and greenhouse gas emissions reduction. CDP, a not-for-profit charity, provides a global disclosure system for investors, companies, cities, states, and regions to manage their environmental impacts.<\/p>\n

More than 9,600\u00a0companies globally disclosed through CDP in 2020, 14 per cent more than last year and 70 per cent more than when the Paris Agreement was signed. Companies were scored according to the comprehensiveness of their disclosure and their actions towards a net-zero emissions economy. BMO’s A- score puts the bank in the Leadership band \u2013 an indication that it is implementing current best practices. <\/p>\n

“At BMO, we recognize that climate change is a challenging issue that presents a test of resilience and requires us to anticipate risks and capture opportunities. We have been working to implement the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD), including undertaking climate change scenario analysis,” said Simon Fish<\/span>, General Counsel for BMO Financial Group and Chair of BMO’s Sustainability Council. “We are committed to making an important contribution in the shift to a sustainable future, both within our own operations and when guiding our clients.”<\/p>\n

BMO is focused on the opportunities that the transition to a net-zero carbon economy presents. The bank continues to develop its sustainable finance capabilities and has a goal to mobilize $400 billion<\/span> in sustainable finance by 2025. Equally committed to reducing the environmental impact of its own operations and in 2020, BMO built on its long-standing commitment to carbon neutrality by setting and meeting a goal to match 100 per cent of global electricity usage with electricity procured from renewable sources.\u00a0 <\/p>\n

BMO Financial Group’s actions on sustainability and towards a sustainable future include the following:<\/p>\n