BMO Financial Group announced  commitments to support a thriving economy, sustainable future and inclusive society. By 2025, BMO will mobilize $400 billion for sustainable finance, increase support for small businesses and women entrepreneurs with a commitment to zero barriers to inclusion.

BMO is making commitments in three areas by 2025:

For A Thriving Economy

• Double the bank's support for small businesses by:
  • Doubling small business lending in Canada to $10 billion
  • Doubling small business lending in the U.S. to reach 80,000 customers
• Double the bank's industry leading support for women entrepreneurs, including increased dedicated business relationship managers

 

For A Sustainable Future

• Double the bank's mobilization for sustainable finance to $400 billion, including:
  • $250 billion in client investments, which, as trusted advisors, BMO will help to align with sustainable objectives
  • Provide $150 billion in capital to companies pursuing sustainable outcomes
  • Complement this with products and advisory services to help clients chart a path to improved sustainability
• Create an impact investment fund to find and scale solutions to the sustainability problems faced by clients; seed fund with $250 million in capital

 

For An Inclusive Society

• Continue to be a leader in fostering diversity and inclusion in the workforce:
  • Achieve the bank's bold inclusivity goals, with focus on increasing Indigenous representation in Canada to 1.6 per cent of the workforce, and increasing persons of color in U.S leadership roles to 20 per cent by 2020
  • Further focus and investment in skills development and evolve educational requirements for hiring to equip employees for future work
• Double the size of the bank's Indigenous Banking business
• Foster inclusive relationships with customers by enabling all 45,000 employees to engage in a new "Learn from Difference" training program
• Drive inclusive economic development through partnership with United Way of Greater Toronto, and $10 million donation

"We are extremely proud of the progress we have made in our workforce, including that 40 per cent of senior leaders are women, and in our communities – such as through our partnerships with Indigenous communities that help support their economic growth and prosperity," stated Mr. White.

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About BMO Financial Group

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $830 billion as of April 30, 2019, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

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