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BMO signs Operating Principles for Impact Management

May 28, 2020 | Sustainability

BMO’s commitment to helping to forge a sustainable future through sustainable finance is a cornerstone of our Purpose to Boldly Grow the Good in business and life. As part of that commitment, BMO has signed onto the Operating Principles for Impact Management (the Principles), for which IFC led the development. BMO is the 95th signatory to the Principles and the first major bank in Canada to sign.

The Principles establish a market standard for investing in which investors seek to contribute to measurable positive social or environmental impact, alongside financial returns, in a transparent and accountable way. Signatories commit to upholding 9 principles, including defining impact objectives, assessing the expected impact of investments, monitoring and reporting on progress. The Principles aim to ensure that impact considerations are integrated into investment decisions throughout the investment lifecycle.

“By signing the Operating Principles for Impact Management, BMO commits to considering environmental and social impact in our approach to managing selected funds. The Principles are aligned with our approach to sustainability, responsible investing and our commitment to a sustainable future through sustainable finance,” said Simon Fish, General Counsel for BMO Financial Group and Chair of BMO’s Sustainability Council. “We hope this action encourages other investors to embed considerations of environmental and social impact alongside financial returns in their investing approach.”

BMO’s commitment covers a range of funds including a selection of Global Asset Management Responsible Funds and the aligned BMO Impact Investment Fund.

“Responsible Investment is integral to our purpose as an asset manager, and this year we celebrate 20 years of running our investor engagement program,” said Kristi Mitchem, CEO, BMO Global Asset Management. “During this time we have demonstrated our accountability through our reporting across the responsible strategies we run. In signing the Principles, we are proud to continue our commitment to making a positive impact and playing our part in the wider investor movement towards making finance a force for good.”

Learn more about BMO’s sustainable finance activities by visiting the Sustainability Leaders Hub, and signature moves like the launch of seven ESG (environment, social and governance) ETFs, including the first balanced ESG ETF in Canada. Learn more about how BMO Capital Markets acted as joint lead manager for the World Bank’s landmark USD $8 billion dollar, five-year sustainable development bond

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