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Bank of Montreal
Symbol BMO
Shares Issued 729,953,297
Close 2025-01-13 C$ 139.46
Market Cap C$ 101,799,286,800
Recent Sedar Documents

Globe says with Trump in, RBC/BMO duck climate work

2025-01-13 06:40 ET - In the News

See In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Saturday edition that Wall Street has often been criticized for lacking a conscience, as its focus on profit shifts with the prevailing winds. The Globe's Gus Carlson writes that after the November U.S. presidential election, the big banks adjusted their strategies regarding climate issues. Last week, JPMorgan announced that it is withdrawing from the United Nations-backed Net-Zero Banking Alliance (NZBA), the largest climate-finance group in the financial services industry. Following this announcement, the leaders of RBC and BMO indicated separately that they no longer consider the NZBA to be the most effective tool for their objectives. These moves cap a mass exodus of major U.S. financial institutions from NZBA in the past few weeks -- Goldman Sachs, Citigroup, Bank of America, Wells Fargo and Morgan Stanley have said they are leaving the alliance. Wall Street is shifting its priorities to prepare for an incoming Trump administration that promises to be less climate-focused. Meanwhile, Meta's Mark Zuckerberg is flying his Trump flag by eliminating fact-checking and opening its platform to what it calls free speech. It says it will monitor discourse similarly to how X does.

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