Bmo Financial

BMO Financial, a Canadian financial intermediation services company, reported total market-based Scope 1 and 2 emissions of approximately 30.87 million kg CO2e in 2025. This includes about 30.55 million kg CO2e from Scope 1 emissions and 323,000 kg CO2e from market-based Scope 2 emissions. Additionally, Scope 3 emissions in 2025 were approximately 669.9 million kg CO2e, with significant contributions from purchased goods and services (about 557.55 million kg CO2e), capital goods (about 85.1 million kg CO2e), and business travel (about 20.85 million kg CO2e).

Looking back, BMO Financial's total Scope 1 and 2 market-based emissions were approximately 31.81 million kg CO2e in 2024 (Scope 1: about 31.46 million kg CO2e; market-based Scope 2: 349,000 kg CO2e) and about 38.32 million kg CO2e in 2023 (Scope 1: about 38.08 million kg CO2e; market-based Scope 2: 236,000 kg CO2e).

BMO Financial has committed to significant climate action, including a near-term absolute target to reduce operational Scope 1 and Scope 2 GHG emissions by 30% by 2030, using a 2019 baseline. The company also aims for net-zero financed emissions in its lending by 2050, with intermediate targets to be achieved in partnership with clients. Additionally, BMO Financial is targeting a 33% reduction in portfolio emissions intensity by 2030 from a 2019 baseline, specifically consistent with the Oil Sands Pathway to Net Zero Initiative and the Global Methane Pledge.

Historical data shows that in 2019, the baseline year for their 2030 reduction target, BMO Financial's Scope 1 emissions were approximately 45.67 million kg CO2e and market-based Scope 2 emissions were 544,000 kg CO2e. The company had a previous near-term absolute target to reduce absolute carbon emissions by 15% from fiscal 2016 baseline levels by the end of fiscal 2021 for both Scope 1 and Scope 2.