BMO ECO5 strategy

Not all corporations are created alike – nor do they act alike.

When it comes to sustainable energy practices, you wouldn’t expect companies in certain industries to do much. Take banking – what’s a bank going to do to significantly reduce energy consumption?

The answer is simple: as much as it can.

In 2008, BMO Group decided to update its environmental policies. In its annual report, the financial colossus introduced the ECO5 strategy. Five key activities – energy consumption, transportation, material consumption, waste production and procurement – were identified. Each has its own energy-reduction programs.

Each individual program will be reviewed, documented and coordinated with BMO’s newly-established Environmental Sustainability Office. The new office isn’t just another level of bureaucracy. By having all its “green” programs report in, BMO can better evaluate which programs make the most difference.

Just a few short months later, each of the five key activities has two or three separate energy-reduction programs in place. The programs are many and varied. They range from short-term to long-term, and “big-picture,” if you will, to gestures.

Example: for energy consumption, BMO pledges to purchase green power, and measure and reduce energy usage. Those goals can be pursued immediately. However, BMO also intends to build new LEED-certified branches, and achieve BOMA Go Green certification for its existing office towers.

BMO also plans to encourage employee use of public transit, reduce overall paper use, and replace service vehicles with fuel-efficient versions – among other things.

What difference will that make? More difference than if they had chosen to do nothing.