BMO Global Asset Management has been active on climate change for many years. Our corporate engagement on the topic started in 2000, and is now fully integrated with our voting approach. We have engaged over many years with governments to encourage robust policy approaches. And we are carbon neutral in our own operations, as part of a commitment made by BMO Financial Group in 2010.
But with the urgency of the issue ever more apparent, it is time to step up and go further, and adopt an ambitious approach in relation to the climate impact of our invested assets.
In December, BMO Global Asset Management1 joined a group of asset managers representing over $9trn AUM to launch the Net Zero Asset Managers initiative. Through this initiative, we are all committing to support the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5°C. As part of the initiative, we have committed to:
- Work in partnership with asset owner clients on decarbonisation goals, consistent with an ambition to reach net zero emissions by 2050 or sooner across all assets under management
- Set an interim target for the proportion of assets to be managed in line with the attainment of net zero emissions by 2050 or sooner
- Review the interim target at least every five years, with a view to ratcheting up the proportion of AUM covered until 100% of assets are included
Read the full commitment here.