Le Lézard
Classified in: Business
Subjects: CSR, SRI

BMO Shares Progress on IFC led Operating Principles for Impact Management in First Disclosure Statement


TORONTO, May 4, 2021 /CNW/ - In May 2020, BMO Financial Group (TSX: BMO) (NYSE: BMO) became the first major bank in Canada to sign the International Finance Corporation (IFC) led Operating Principles for Impact Management ("the Principles"). The Principles set a market standard for investing by which investors seek to contribute to measurable positive social or environmental impacts alongside financial returns, in a transparent and accountable way. Signatories commit to upholding 9 principles, including defining impact objectives, assessing the expected impact of investments, monitoring and reporting on progress.

As part of its pledge, BMO has published its first Disclosure Statement which affirms that the bank has established procedures that ensure investments made through the $250 million BMO Impact Fund are managed in alignment with the Principles. The Fund's goal is to find and scale solutions to sustainability challenges and was established as part of BMO's Purpose, its commitment to sustainable finance and a sustainable future.

"In setting up the BMO Impact Fund as part of our broader Sustainable Finance commitment, we wanted to implement processes that met the high-water mark of impact fund management," said Jonathan Hackett, Managing Director and Head of Sustainable Finance at BMO. "The Principles provide us with that benchmark, have helped inform our impact assessment and management throughout the investment lifecycle, and help us to prioritize investments that demonstrably contribute to sustainability objectives."

The Disclosure Statement, which can be read here, describes the Fund's strategy and focus areas, as well as the bespoke methodology BMO has developed to assess impact at a portfolio and individual investment level.

BMO continues to make significant progress on its Purpose to double the good for a sustainable future:

BMO's leadership on sustainability has been recognized on numerous rankings:

For more information on BMO's commitment to a sustainable future, please visit the bank's Sustainability Report.  To learn more about sustainable finance at BMO click here. For BMO's climate ambition, visit our Climate page.

About BMO Financial Group 
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $973 billion as of January 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group


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