Our Approach to Corporate Responsibility
Responsibility is built into our business
Our approach to corporate responsibility is grounded in BMO’s defining values and integrated into our overall business strategy. In complying with regulatory requirements and adhering to an internationally recognized sustainability framework, we affirm a more fundamental commitment to act responsibly in all of our decision-making and weigh the potential impact of every choice we make.
In the governance framework overseen by BMO’s Board of Directors, environmental, social and governance (ESG) issues fall within the mandates of the board and several of its committees. In addition to the activities of the board and its committees is the bank-wide Sustainability Council, established by the CEO and comprised of senior leaders from across the bank. The Council provides insights and guidance on a range of current and emerging issues, within the banking sector and in the economy generally.
In addition to the sustainability work we do within BMO, we also pursue outside perspectives through regular consultations with key stakeholders. Over the past year we’ve refined our engagement strategy, reaching out more systematically to solicit stakeholders’ views. We also participate in many industry groups, deepening the conversation around sustainability with our peers. In all of this work, our goal is to ensure that BMO’s leaders have a thorough understanding of material issues and are well positioned to make decisions, even when the best course of action is not always obvious. Identifying the choices that will bring the most good to the most people – for us this is the heart of corporate responsibility.