The Bank of Montreal was ranked in the top 50 socially responsible companies in Canada by Macleans. BMO has multiple areas where they have strong CSR centered activities. They think of CSR as a corporate responsibility that is shared with their stakeholders as a give and take. A belief system where the understanding that the economic, social and environmental choices made affect the operation of their business. Their CSR ranges through different stakeholders and affect both internal and external stakeholder.
- BMO’s board diversity policy ensures that women represent at least a third of the bank’s independent board of directors.
- Equity and debt financing to the renewable energy sector amounted to $3.6 billion in fiscal 2012, one of the highest among Canadian banks for that year.
- BMO funds a nationwide financial literacy program that aims to educate 45,000 students on personal finance over three years.
Not only does their CSR actions help them with external stakeholders such as their customers, but more importantly it helps within the bank. An ethically strong company can motivated their employees and this in the long run will help them be more productive, leading to more efficiency in operations for BMO.
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