BMO receives five star ratings from Hispanic Association on Corporate Responsibility
For the third consecutive year, BMO Financial Group has received the highest possible ratings in the 2022 Hispanic Association on Corporate Responsibility’s (HACR) annual Corporate Inclusion Index (CII). The index benchmarks the status of Hispanic diversity and inclusion in corporate America.
The index seeks to improve companies’ understanding of areas of improvement regarding Hispanic and Latinx diversity initiatives and provides a pathway to progress.
The HACR CII puts the spotlight on four possible areas for the participating companies: employment, procurement, philanthropy, and governance. These areas highlight the company’s diversity and inclusion practices and identify opportunities for improvement.
This year, BMO received five stars, the highest possible rating, in employment and governance.
“We are proud of our five-star ratings from HACR and its alignment with our Purpose, to Boldly Grow the Good in business and life,” said George Walz, U.S. Chief Compliance Officer, BMO Financial Group. “Knowing this is an ongoing journey, we will continue to look for opportunities to improve our efforts to eliminate barriers to inclusion for our colleagues, customers and communities.”
HACR CII ratings are designed around a practice assessment and an outcomes assessment for each of the four pillars. The practice assessment consists of 25 elements, which examine what type of support or infrastructure a company has in place for diversity and inclusion. The outcomes assessment examines key indicators or measures by which companies evaluate progress or changes on diversity and inclusion efforts.
“On behalf of HACR’s board of directors, we applaud BMO for taking our survey as a way to measure their Hispanic inclusion,” said Cid Wilson, President and CEO of HACR. “By investing in Hispanic representation, businesses like BMO are providing long-term shareholder value by building a more inclusive future for their employees, suppliers, and customers.”
BMO is committed to furthering its diversity, equity and inclusion goals, which are elaborated in its Zero Barriers to Inclusion 2025 strategy.