TORONTO, Oct. 13, 2020 /CNW/ - BMO Financial Group has been named in the top 15 of the Wall Street Journal's first ever ranking of the 100 most sustainably managed companies in the world. BMO is the only bank in the top 50 and the only Canadian bank to be listed in the rankings.
Taking a broad view of sustainability (including human capital, social capital, the environment, business model and innovation), the Wall Street Journal ranking assessed each company's leadership and governance practices for their ability to create long term value for shareholders.
BMO scored highly in the area of management of Social Capital, ranking third overall. According to the Wall Street Journal, performance in the area of Social Capital means a company has a high degree of achievement in how it measures and monitors the social impact of its business activities related to customer welfare, human rights and community relations, product access, affordability, quality and safety, as well as data security and customer privacy. The definition is based on SASB guidelines, a framework that aligns sustainability disclosure with financial relevance. BMO released a SASB aligned disclosure in 2019, one of the first banks to do so and the most comprehensive SASB disclosure amongst Canadian banks.
"We are incredibly proud to be so highly ranked among the top 100 of the most sustainably managed companies in the world," said Simon Fish, General Counsel and Chair of the Sustainability Council, BMO Financial Group. "This recognition reinforces BMO's purpose-driven bold commitment to support progress toward a sustainable future, a thriving economy and a more inclusive society with zero barriers."
To create the rankings, the Wall Street Journal examined more than 5,500 publicly traded businesses across a range of sustainability metrics. BMO was recognized among the best in class for management of financially material issues across the key sustainability categories with a high degree of transparency and disclosure, driving long term value.
BMO has been recognized among its international peers by a number of organizations in 2020, including as one of the global 100 most sustainable corporations in the world by Corporate Knights, and as one of the world's most ethical companies by Ethisphere Institute. BMO has been ranked on the Dow Jones Sustainability Index for 15 years.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $974 billion as of July 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group