BMO wins award for sustainability bond partnership with World Bank
BMO is a long-time leader in promoting gender equality, and we’re always looking for innovative ways to create positive change. So we’re proud that BMO Capital Markets has been recognized for acting as joint lead manager for the World Bank’s two Canadian dollar-denominated sustainable development bonds in 2018. Each bond raised $1 billion, and both are aimed at supporting women.
The recognition comes via Environmental Finance — a leader in reporting on and analyzing sustainable investment — which named BMO Lead Manager of the Year, Sustainability Bonds – SSA.
These awards are given for best practices and promoting issues that are significant for market development, and are particularly prestigious because the winners are selected by an independent panel of judges, made up of some of the biggest investors in the green, social and sustainability bond market.
The first bond is the World Bank’s inaugural sustainable development benchmark bond highlighting gender equality. It was issued to raise awareness that empowering women and girls is one of the most effective ways to accelerate economic development, reduce poverty and build sustainable societies. The bond finances projects and programs around the world that work towards meeting some of the UN Sustainability Development Goals (SDGs).
BMO also worked on the World Bank’s second sustainable development bond, supporting the health and nutrition of women, adolescents and children.
From employee empowerment programs to specialized banking services, BMO advances gender equality in a variety of ways. For example, we’ve pledged to lend $3 billion to companies led by women entrepreneurs. And we hold an Annual Women in Fixed Income, Currency and Commodities (FICC) Industry Forum in Toronto. You can find out more about what we do at BMO for Women.
The SDGs inform BMO’s sustainability strategy, particularly regarding emerging opportunities in sustainable finance and disclosure. You can find out more about that in our 2018 Environmental, Social and Governance Report.