CHICAGO, April 22, 2024 /PRNewswire/ - BMO today announced the launch of its Greener Future Financing program in the United States ? its first climate financing program to help small and medium-sized businesses build future-ready, climate-resilient operations.
In 24 states ? including Arizona, California, Colorado, Florida, Idaho, Illinois, Iowa, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Washington, Wisconsin, and Wyoming (businesses located in Michigan or Texas must be within 100 miles of a BMO full-service retail branch in an adjacent state) ? BMO's Greener Future Financing program will help businesses make progress on climate-related goals by providing the following:
"Business leaders and our customers are telling us that they value products, services and incentives that will help reduce their carbon footprint ? as well as insights to help them adapt and thrive in this evolving business landscape," said Niamh Kristufek, Head of U.S. Business Banking at BMO. "BMO's commitment to sustainability is guided by our Purpose, to Boldy Grow the Good in business and life, and our Climate Ambition to be our clients' lead partner in the transition to a net-zero world. Through our Greener Future Financing program, BMO is meeting these needs to help our customers make progress, advising them of climate-related risks and plans that future-proof businesses."
According to the annual BMO Climate Institute Business Leaders survey:
Carbon neutral in its operations since 2010, BMO announced its Climate Ambition in March 2021, including the launch of the BMO Climate Institute, to be its clients' lead partner in the transition to a net-zero world. This ambition built on a previous commitment to mobilize $300 billion in capital to clients pursuing sustainable outcomes by 2025 ? achieved two years early in 2023.
In 2021, BMO established a dedicated Energy Transition Group to support clients' pursuit of opportunities driven by the increasing momentum of the global economy's shift in production and consumption of energy. Additionally, in 2022, BMO acquired Radicle Group, now BMO Radicle, a leader in sustainability advisory services and market-based solutions, and technology-driven emissions measurement and management.
BMO's sustainability leadership has been recognized on several other global rankings, including #1 bank on the World Benchmarking Alliance's 2022 Financial System Benchmark, and Ethisphere Institute's list of the World's Most Ethical Companies.
"We're working hard to be our clients' lead partner in the transition to a net-zero world, and Greener Future Financing will help them achieve their emissions reduction and resilience goals", said Michael Torrance, Chief Sustainability Officer at BMO. "Strategic insights into climate risks, tailored advice on mitigation plans, and facilitating access to financial resources, all support and empower our clients to drive sustainable progress."
In addition to Greener Future Financing, BMO offers a range of products and services to help business clients with the transition to net-zero, including:
To learn more about BMO's Greener Future Financing program, visit https://www.bmo.com/en-us/main/business-banking/business-lending/. For information on BMO's Purpose and commitments to a sustainable future, visit its Sustainability Report, Purpose, Climate, and Zero Barriers to Inclusion 2025 pages.
Established in 2021, The BMO Climate Institute is a center of climate expertise, bridging science, policy, finance, and economics to help accelerate climate solutions. It supports customers by engaging with industry, the public sector, academia and investors, and serves as a resource on decarbonization, resilience, social impact, and biodiversity.
The second annual BMO Climate Institute Business Leaders survey was conducted by Pollara with more than 700 business leaders in the U.S. and Canada between Aug. 3 and 24, 2023. To view an in-depth report, click here.
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.3 trillion as of Jan. 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good, in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
SOURCE BMO Financial Group
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