As Canada submits a bid to be named host for the International Sustainability Standards Board’s (ISSB) new headquarters, a new coalition of key business leaders in the country – including leading corporations and financial services firms – has come together to boost the effort. “Canadian Champions for Global Sustainability Standards” has made a commitment to providing startup and operational funding should Canada be named the home for ISSB, which will develop guidance and global standards for environmental, social and governance.
With its long history of environmental stewardship, Canadian financial services leader the Bank of Montreal (BMO) is using its environmental standing to bring even more backing to the effort. “As part of our commitment to sustainability and our ambition to be our clients’ lead partner toward a net-zero world, BMO applauds Canada’s bid,” according to Simon Fish, Chair of the BMO Climate Institute and Special Advisor on ESG. “A resource-rich and intensely biodiverse nation, Canada brings its reputation as an active supporter of international institutions, and its expertise in standard-setting and sustainability reporting, climate change and disclosure.”
Making manifest its commitment to environmental stewardship is central to the way BMO does business. The company says, “As one of the first major banks to sign the UN Principles for Responsible Banking, BMO is committed to aligning its business strategy with the UN Sustainable Development Goals [and] the Paris Climate Agreement…” among others. As international trailblazers in sustainable finance, BMO is actively moving investments to net-zero and through operational sustainability achieved carbon neutral status in 2010, remaining dedicated to “innovative ways to minimize the environmental impacts of our operations.”
With purpose at its core, BMO demonstrates its daily commitment to environmental sustainability as a way of doing well while doing good and integrates purpose into the way it does business. For more insights on environmental efforts in banking, stay tuned to Believe in Banking as it tracks the big trends that are impacting financial services, or contact us at firstname.lastname@example.org.
Photo Credit: BMO Environmental Targets & Performance, 2021