During the busy lead-up to back-to-school week, a group of FOK Toronto parents and kids got together to tell BMO that they need to walk the talk and up their climate game.
BMO claims to be a “partner in the transition to a net-zero world” while they “boldly grow the good.” But are they? And CEO Darryl White says he’s committed to supporting “a thriving economy, a sustainable future and inclusive society.” But is he?
According to the 2024 Banking on Climate Chaos report, BMO is the 18th worst bank in the world for funding fossil fuel projects! They also currently rank 3rd in the world for tar sands financing, and apparently rolled back a coal exclusion policy last year under pressure from pro-oil politicians in the US.
With signs and flyers in hand, we raised this issue with people on the street just outside BMO’s downtown Toronto branch. We handed out popsicles, chalked the sidewalk, and shared some (not so) fun facts about BMO with our quick quiz. For example:
In the years after the 2015 Paris Agreement when world leaders committed to limiting warming to 1.5C, how much did BMO invest in fossil fuel production? (US dollars)
- $10 Billion
- $24 Billion
- $80 Billion
- $148 Billion
Answer: D!
Not a good look, BMO.
BMO CEO Darryl White is a dad, his bank supports mental health programs for kids as well as kids’ soccer and hockey leagues. It seems like he cares, so we’re really wondering why his bank is expanding its funding of the industry that is threatening our kids’ rights to a safe climate future. Interested parents want to know!
We tried to deliver a letter to Darryl on behalf of multiple Canadian organizations, including Indigenous Climate Action, Protect Our Winters Canada, Greenpeace Canada, STAND.earth, Change Course, Re:Generation, Gidimt’en Checkpoint, Shift Action for Pension Wealth and Planet Health and Decolonial Solidarity. Together, we called on him to stop funding fossil fuels and invest in clean renewable energy to preserve a liveable planet for all kids. Unfortunately, security wouldn’t let us through, so we put it in the mail. We just got word from the Chief Sustainability Officer that they're willing to meet. We'll be sure to share an update about what they say and let them know parents will continue to demand action and answers until we see real change.
Blog by Toronto parent Anne Keary
