Frequently Asked Questions (FAQs):
Our Corporate Responsibility & Sustainability Group is responsible for identifying and understanding the wide-ranging implications of sustainability issues that impact our business, and collaborating with various areas of the bank to address them. Business-related sustainability issues are managed within the relevant area of the bank.
Issues related to sustainability are covered in the mandates of our various committees, and are forwarded to the board for further consideration as required. BMO’s board committee structure is designed to help Board of Directors fulfill their oversight and governance responsibilities across the range of issues that a complex financial services company faces. Learn more about BMO’s Corporate Responsibility Governance.
Our code of business conduct and ethics reflects our commitment to doing what is fair, legal and right. Learn more about our Code of Conduct.
We are continually seeking out opportunities to engage those stakeholders that are impacted by our activities. Our stakeholders include customers, shareholders, employees, communities, working groups and non-government organizations (NGOs). Learn more about engaging with stakeholders.
Diversity is often thought of in terms of equitable opportunity regardless of gender, race, age, ethnicity, ability and sexual orientation. Yet diversity is also about the uniqueness of each individual – our personal stories, experiences, ideas, hopes and dreams. At BMO, our goal is to be a truly diverse organization – one that celebrates diversity in all its forms. Learn more...
BMO has an accessible website designed to assist employees in making informed decisions about their personal well-being, while also providing information on BMO’s principles, practices and supportive policies. Understanding that convenience is of the utmost importance to employees who are balancing work/life commitments, this website allows employees to also have access to information on our policies, programs, tools, and resources from the privacy and convenience of their own homes.
Learn more about the policies and practices that support BMO’s supportive work environment in BMO’s Employment Equity Narrative Report (PDF).
BMO is committed to protecting and upholding established human rights. In 2008, we reviewed and benchmarked current BMO policies and processes concerning the rights of our employees and customers against best practices. Our examination confirmed that respect for human rights is deeply embedded in our corporate culture and all of our policies. BMO has multiple employee-related policies and best-practice processes that ensure that human rights legislation in any jurisdiction in which BMO operates are both honoured and protected.
When making a financing decision, in addition to regular credit criteria, BMO takes into consideration ethical, political, social and economic factors. BMO is not prepared to extend loans for transactions that are outside the national defense policies or international treaty obligations (such as NATO) of Canada and the U.S. and which have as their objective the international transfer of military equipment or civilian equipment for military or internal security purposes. Additionally, BMO will not finance companies that manufacture weapons banned by existing international arms control treaties of which Canada and/or the U.S. are signatories.
Encouraging our employees to participate in our environmental programs, and bring ideas to us has been a key priority. To facilitate this, we have an environmental email address where employees can send their questions, comments and suggestions. We also have an Employee Environment Site on the BMO intranet, which we launched on Earth Day in 2009. The Environmental Sustainability Office is supported by environmental ambassadors in raising employee awareness with environmental initiatives. Learn more...
BMO has had an Environmental Policy since 1991. On April 30, 2008, we released our public environmental commitment entitled “Walking the Talk: Putting Commitment into Action.” The document sets out our approach to ensure we honour our commitment to minimizing the impacts of our operations on the environment and to demonstrating leadership by integrating environmental considerations into our business practices. Learn more about our Environmental Policy (PDF).
We acknowledge that our activities have an impact on the environment, both directly in terms of our own operations, and indirectly through our procurement practices and the products and services we provide to our customers. We are particularly concerned by the enormity of the problems posed by climate change. We agree with the conclusions of Sir Nicholas Stern in his review, The Economics of Climate Change that "climate change will affect the basic elements of life for people around the world" while also having "serious impacts on growth and development."
We are committed to minimizing the impact of our global operations. We introduced the BMO ECO5 Strategy which provided us with an organizing framework to assist us with reducing the environmental impacts flowing from our operational activities. Learn more about our initiatives.
BMO's lines of business have issued detailed guidelines with respect to the criteria for the methodology employed in the assessment of environmental risk. The guidelines identify over fifty industries that are considered environmentally sensitive and which may require a heightened level of assessment. Additionally, our lending officers are provided with training on how to recognize environmental risks as part of their credit risk skills development program. We recently enhanced our corporate lending due diligence questions to account for credit risk associated with climate change. In addition, we have lending criteria on forest biodiversity, covering forest certification and activity in protected regions.
Lending activities (such as compliance to lending directives for commercial/corporate customers, where credit support is directly or indirectly dependent on real estate assets, or the counterparty operates in an environmentally sensitive industry) are audited periodically by BMO Financial Group’s Corporate Audit Group. In December 2008, BMO was the first Canadian bank to achieve ISO 14001 environmental management systems certification at our 55 Bloor Street West location in Toronto, Ontario.
Yes, BMO has been first a respondent and subsequently, a signatory investor in this annual disclosure exercise. As a signatory investor, we agree to put our name on the CDP information request
BMO’s current response, as well as our previous responses, can be found at the following link: BMO Carbon Disclosure Project.
For more information regarding corporate responsibility at BMO, please contact: firstname.lastname@example.org.