Bank of Montreal to source 100% of electricity from renewables

The initiative includes investment in renewal energy certificates and will enable the generation of nearly 400,000kWh of renewable electricity every year

Net Hero Podcast

Bank of Montreal (BMO) has announced a 2020 goal to power 100% of its operations with electricity produced from renewable sources.

The initiative includes investment in renewable energy certificates and will enable the generation of nearly 400,000kWh of renewable electricity every year.

BMO says this commitment comes in line with other steps taken including the maintenance of carbon-neutrality in global operations since 2010, the achievement of three successive-year enterprise emission reduction targets since 2008, using 100% renewable electricity in US operations and the mobilisation of $400 billion (£648bn) in sustainable finance by 2025.

Simon Fish, General Counsel for BMO Financial Group and Chair of BMO’s Sustainability Council, commented: “Investing in renewable energy certificates is a powerful way to build market demand for renewable electricity, which in turn drives industry growth and accelerates the transition to a lower carbon economy.

“We are making an important contribution in the shift to a sustainable future both within our own operations and when guiding our clients.”