DE-DE Institutionell

Russia’s war on Ukraine

Being an Active Owner in times of conflict. How and why we’re engaging with companies with exposure to Russia and Ukraine.
March 2022


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We deeply regret the scenes of terror we are witnessing in Ukraine, and the new era of geopolitical insecurity that it heralds. We are working quickly to review the wide-ranging implications of these developments for our clients and assess the most appropriate and constructive actions to take as responsible investors.


Russia’s military invasion of Ukraine has severe implications for human rights and presents significant challenges to businesses with ties to both countries. These include protecting workers in Ukraine, managing supply chain disruptions, and spikes in energy, food, and commodity prices, among others. On the other hand corporations are facing significant operational and reputational risk from continued presence in Russia and are under pressure to take rapid action.


Divestment is one potential response from the investor community to the crisis in a bid to isolate Russia, but engagement with companies with exposure to the region is also critical. In this note we provide an insight into our initial dialogues and the questions we believe should be asked.

Risk Disclaimer
Past performance is not a guide to future performance.

The value of an investment is dependent on the supply and demand for the shares of the Investment Trust rather than its underlying assets. The value of an investment will not be the same as the value of the Investment Trust’s underlying assets.

Views and opinions have been arrived at by BMO Global Asset Management and should not be considered to be a recommendation or solicitation to buy or sell any companies that may be mentioned.

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