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BMO issues its first Sustainability Bond

October 23, 2019 | Sustainability

BMO has issued a U.S. $500 million Sustainability Bond – the first of its kind for the bank and a significant step forward in our commitment to grow the good for a sustainable future. The bond market reacted positively to the move, with demand reaching $2 billion.

Sustainability bonds’ power to mobilize capital and solve environmental and social challenges makes them increasingly popular with investors, and a critical tool for fulfilling our purpose. “With the issuance of our first sustainability bond, we are strengthening our ability to Boldly Grow the Good in business and life,” said Steve Lobo, Treasurer, BMO Financial Group. “We are focused on driving positive change, whether through similar bond issuances in the future or the many solutions we are building.”

The Sustainability Bond program is jointly sponsored by Corporate Treasury, The Sustainability Office and the Sustainable Finance Group. It drew on the expertise of cross-functional teams from Corporate, P&C and Capital Markets to operationalize the reporting, monitoring and governance of the bond.

Sustainability bonds are just one part of the bank’s strategy for mobilizing $400 billion for sustainable finance by 2025. Our bold commitment includes advising and managing $250 billion in client investments for sustainable objectives and allocating $150 billion in capital to companies pursuing sustainable outcomes.  In addition, BMO has announced the creation of an impact investment fund, with $250 million in seed capital, to find and scale solutions to sustainability problems.

Find out more about responsible investing at BMO here.

Find out more about BMO Global Asset Management here.

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