September 27, 2022

In A First, BMO and Concordia University Unite to Introduce Innovative Sustainability-Linked Loans

C Concordia University, a renowned public research university in Montreal, and BMO Financial Group, which served as the sustainability structuring agent, have signed a sustainability linked financing agreement. The addition of a margin adjustment mechanism to an existing credit facility is linked to Concordia's assets under management being invested in worthwhile and sustainable projects.

This Sustainability Linked Loan ("SLL"), the first of its kind for a Canadian institution of higher learning, supports Concordia University's commitment to advancing sustainability in its operations, management, research, and curriculum.

…Concordia University was happy to have once again reached a Sustainability Linked Loan (SLL) agreement with BMO, making them the first university in Canada to do so…

Graham Carr, the president and vice chancellor of Concordia University, claims that his university was the first in North America to issue a sustainable bond. He continued by saying that Concordia University was happy to have once again reached a Sustainability Linked Loan (SLL) agreement with BMO, making them the first university in Canada to do so.

Jonathan Hackett, Head of Sustainable Finance at BMO Capital Markets. added, "As the global demand for sustainable lending grows, BMO is proud to be the leading Canadian bank for SLL structuring. BMO's Climate Ambition is to be our clients' lead partner in the transition to a net zero world. Helping clients like Concordia University achieve their ESG goals is an important way BMO is Boldly Growing the Good in business and life, and a great example of the progress our clients across industries can make as we work together to build a more sustainable future."

BMO's sustainability leadership has been recognised in a number of global rankings, including the Wall Street Journal's 100 Most Sustainably Managed Companies in the World, Corporate Knights' Global 100 Most Sustainable Corporations, Dow Jones Sustainability Indices World Index, and Ethisphere Institute's list of the World's Most Ethical Companies.

Posted in Collaborations and tagged Collaborations, Concordia University, BMO Financial Group, Sustainability Linked Loan, Canada, Sustainable Future
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