Bmo Financial Sustainability Profile
BMO Financial Group, commonly known as BMO, is a leading financial institution headquartered in Canada. Established in 1817, BMO has evolved into one of the largest banks in North America, with significant operations across Canada and the United States. The bank operates primarily in the banking and financial services industry, offering a diverse range of products including personal and commercial banking, wealth management, and investment services. BMO is renowned for its commitment to customer service and innovative financial solutions, making it a trusted choice for individuals and businesses alike. With a strong market position, BMO has received numerous accolades for its sustainability initiatives and community engagement. As a pioneer in digital banking, BMO continues to enhance its offerings, ensuring clients have access to cutting-edge financial tools and resources.
DitchCarbon Score
How does Bmo Financial's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Bmo Financial's score of 74 is higher than 86% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Bmo Financial's reported carbon emissions
In 2024, BMO Financial reported significant carbon emissions, with total Scope 1 emissions at approximately 14,924,000 kg CO2e and Scope 2 emissions at about 55,763,000 kg CO2e, resulting in a combined total of around 70,687,000 kg CO2e for these scopes. For the Canadian region specifically, Scope 1 emissions were about 18,125,000 kg CO2e, while Scope 2 emissions totalled approximately 13,007,000 kg CO2e, leading to a combined total of around 31,132,000 kg CO2e. BMO has set ambitious climate commitments, aiming for a 30% reduction in operational GHG emissions (Scope 1 and 2) by 2030, using 2019 as a baseline. This target is part of a science-based approach to emissions reduction. Additionally, BMO is targeting net-zero financed emissions in its lending portfolio by 2050, with intermediate targets to be established in collaboration with clients. The bank's commitment to sustainability is further demonstrated by its participation in initiatives such as the Oil Sands Pathway to Net Zero Initiative and the Global Methane Pledge, which align with its goal of reducing portfolio emissions intensity by 33% by 2030 from a 2019 baseline. BMO's emissions data is sourced directly from the Bank of Montreal, with no cascaded data from parent or related organizations. The bank continues to enhance its climate strategy, focusing on transparency and accountability in its environmental impact.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 37,837,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 115,334,000 | 000,000,000 | 00,000,000 | 000,000 | 000,000 | 00,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 22,097,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 000,000,000 | 0,000,000 | 000,000,000 | 000,000,000 |
How Carbon Intensive is Bmo Financial's Industry?
How Carbon Intensive is Bmo Financial's Location?
Bmo Financial's Scope 3 Categories Breakdown
Bmo Financial's Scope 3 emissions, which decreased by 17% last year and increased significantly since 2016, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 97% of Scope 3 emissions.
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Bmo Financial's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Bmo Financial has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
