LONDON, 25 January 2021 – BMO Global Asset Management (BMO GAM) has today announced the appointment of climate change expert Dr Ben Caldecott to its Responsible Investment Advisory Council (RIAC). The move further builds BMO GAM’s expertise on this critical issue and will support its ambition of achieving net zero emissions across its investment portfolios by 2050 or earlier.
The RIAC is responsible for maintaining the integrity of the standards by which BMO GAM’s Responsible Investment funds are run, as well as providing advice on wider ethical and sustainability issues. Its President is The Most Revd Justin Welby, the Archbishop of Canterbury.
As an internationally recognised industry figure, Ben specialises in environment, energy and sustainability issues. He has held several senior roles in this field, including Founding Director of the Oxford Sustainable Finance Programme at the University of Oxford Smith School of Enterprise and the Environment. Ben also founded and co-chairs the Global Research Alliance for Sustainable Finance and Investment (GRASFI), an alliance of global research universities promoting rigorous and impactful academic research on sustainable finance.
BMO GAM remains committed to addressing climate issues, and Ben’s appointment follows the announcement in December 2020 that it was one of the 30 founding asset managers, representing over $9 trillion in assets under management, to the Net Zero Asset Managers Initiative. As part of the initiative, BMO GAM has committed to supporting the goal of net zero greenhouse gas emissions across its investment portfolios by 2050 or sooner, in line with global efforts to limit warming to 1.5°C.
Commenting on Ben’s appointment, Kristi Mitchem, CEO of BMO Global Asset Management, said: “We are delighted to welcome Ben to BMO GAM’s Responsible Investment Advisory Council. His insights into the role finance can play in addressing critical sustainability issues will complement the existing Council members, and we look forward to drawing on his expertise. Asset managers have a unique and critical role to play in addressing climate risk, and we remain committed to challenging and expanding our knowledge in support of the transition to net zero.”
Ben Caldecott added: “The allocation of capital is a key lever in speeding up the transition to environmental sustainability. BMO Global Asset Management has a long heritage in responsible investment and I am excited at the prospect of being part of the Council’s endeavours.”
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Notes to Editors
Dr Ben Caldecott – Biography:
Dr Ben Caldecott is the founding Director of the Oxford Sustainable Finance Programme at the University of Oxford Smith School of Enterprise and the Environment. He is the inaugural holder of the Lombard Odier Associate Professorship and Senior Research Fellowship of Sustainable Finance; a Supernumerary Fellow at Oriel College, Oxford; and a Visiting Scholar at Stanford University.
Ben founded and co-chairs the Global Research Alliance for Sustainable Finance and Investment (GRASFI), an alliance of global research universities promoting rigorous and impactful academic research on sustainable finance. He established and leads the Sustainable Finance Theme at The Alan Turing Institute and initiated the Spatial Finance Initiative, which aims to mainstream geospatial capabilities enabled by space technology and data science into financial decision-making globally. He also co-founded the Commonwealth Climate and Law Initiative (CCLI), which is examining the legal basis for directors and trustees to consider, manage, and report on climate change-related risk.
Ben currently serves on the US Commodity Futures Trading Commission’s Climate-Related Market Risk Subcommittee and the UK Department for International Trade’s Export Guarantees Advisory Council. In his capacity as a Member of the UK Green Finance Taskforce, he chaired its Workstream on Task Force on Climate-related Disclosures (TCFD) Implementation.
About BMO Global Asset Management
BMO Global Asset Management is a global investment manager with offices in more than 25 cities in 14 countries, delivering service excellence to clients across five continents.
Our four major investment centres in Toronto, Chicago, London and Hong Kong are complemented by a network of world-class specialist managers strategically located across the globe: BMO Real Estate Partners, LGM Investments and Pyrford International Ltd.
BMO Global Asset Management is a signatory of the United Nations-supported Principles for Responsible Investment initiative (UNPRI).
BMO Global Asset Management is a part of BMO Financial Group, a highly diversified financial services provider based in North America with total assets of CDN $949 billion as of 31 October 20201.
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