- Data limitations in measuring Scope 3 emissions and water consumption
- Increased involuntary turnover in the U.S. and Canada due to operational streamlining post-acquisition
- Third-party financial scams and fraud impacting customer experience
Bank of Montreal and its subsidiaries
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Bank of Montreal and its subsidiaries disclosed greenhouse gas emissions of 102.0K tonnes CO2e. By scope: Scope 1: 633.4K tonnes CO2e; Scope 2: 7.8M tonnes CO2e (location-based) + 315295 tonnes CO2e (market-based); Scope 3: Not available for category 1; 433,667 tonnes CO2e (category 5) + 11,820 tonnes CO2e (category 6). Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
102.0K tonnes CO2e
2023
Renewable Energy
100%
of total energy
Water Usage
2.4M m3
2023
Waste
1.8K tonnes (landfill) + 11730 tonnes (recycled or reused)
2023
Energy Use
4.2M MWh (fuels) + 4292830 MWh (electricity and steam)
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 633.4K tonnes CO2e |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 7.8M tonnes CO2e (location-based) + 315295 tonnes CO2e (market-based) |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | Not available for category 1; 433,667 tonnes CO2e (category 5) + 11,820 tonnes CO2e (category 6) |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 102.0K tonnes CO2e |
| 2022 | 95.8K tCO2e (operational) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- 34% progress towards a 30% reduction in GHG emissions by 2030 vs. 2019 baseline
- 100% of electricity consumed from renewable sources
🎯 Climate & Sustainability Targets
🔜 Short-term
- 20,000 employees equipped with future-focused skills by 2025
- 179,000 women-owned businesses supported in Canada by 2025
- 100% employee participation in annual performance reviews annually
📅 Medium-term
- $300 billion in sustainable financing by 2025
- 40% to 60% gender equity in senior leadership roles by 2025
- 31% People of Colour in senior leadership roles in Canada by 2025
- 30% People of Colour in senior leadership roles in the United States by 2025
- 1.6% Indigenous peoples across our workforce in Canada by 2025
🔭 Long-term
- Net-zero operational GHG emissions annually
🌱 ESG Focus Areas
Financial inclusionSustainable financeOperational efficiencyDiversity, equity and inclusionCommunity impactCorporate governanceEnvironmental and social risk managementData securityBusiness conductHuman rightsCustomer experienceInnovation and digitalization