Bmo Financial

BMO Financial's Carbon Emissions and Climate Commitments

BMO Financial, a Canadian financial intermediation services company, is committed to reducing its carbon footprint and achieving net-zero emissions.

Emissions Data:

In 2025, BMO Financial reported total Scope 1 and 2 market-based emissions of approximately 30,868,000 kg CO2e, with Scope 1 emissions at around 30,545,000 kg CO2e and Scope 2 market-based emissions at approximately 323,000 kg CO2e. Scope 3 emissions for 2025 included approximately 557,547,000 kg CO2e from purchased goods and services, 85,105,000 kg CO2e from capital goods, 20,853,000 kg CO2e from business travel, and 2,239,000 kg CO2e from downstream leased assets.

For 2024, the company's total Scope 1 and 2 market-based emissions were approximately 31,806,000 kg CO2e, comprising around 31,457,000 kg CO2e from Scope 1 and 349,000 kg CO2e from Scope 2 (market-based). Significant Scope 3 emissions in 2024 included approximately 658,151,000 kg CO2e from purchased goods and services, 19,906,000 kg CO2e from business travel, and 2,214,000 kg CO2e from downstream leased assets.

In 2023, BMO Financial's Scope 1 emissions were approximately 38,084,000 kg CO2e, and Scope 2 market-based emissions were about 236,000 kg CO2e, leading to a total of approximately 38,320,000 kg CO2e for Scope 1 and 2 market-based. Scope 3 emissions included roughly 804,903,000 kg CO2e from purchased goods and services and 13,980,000 kg CO2e from business travel.

Looking back to 2019, BMO Financial's baseline year for several targets, Scope 1 emissions were approximately 45,672,000 kg CO2e, and Scope 2 market-based emissions were about 544,000 kg CO2e.

Climate Commitments and Targets:

BMO Financial has set several ambitious climate targets:

• Operational Emissions Reduction: The company aims for a 30% absolute reduction in Scope 1 and Scope 2 GHG emissions by 2030, using a 2019 baseline. This science-based target has been reiterated across multiple reports.
• Net-Zero Financed Emissions: BMO Financial is targeting net-zero financed emissions in its lending by 2050, with intermediate targets for financed emissions reduction developed in partnership with clients.
• Oil and Gas Portfolio Intensity Reduction: The company targets a 33% reduction in portfolio emissions intensity by 2030 from a 2019 baseline for its global upstream oil and gas portfolio, aligning with the Oil Sands Pathway to Net Zero Initiative and the Global Methane Pledge.
• Canadian Portfolio Carbon Intensity: BMO Financial aims for a Canadian portfolio carbon intensity of 0.06 tonnes CO2e/MWh by 2030, which represents a 45% reduction.

BMO Financial's climate commitments are publicly disclosed and reflect a strategic approach to decarbonisation within the financial sector.