Shareholder resolution calls for Bank of Montreal to stop financing fossil fuels

On Tuesday, March 31, the Bank of Montreal (BMO) shareholder meeting will include a shareholder resolution calling for the bank to make a commitment to exclude or phase out financing for fossil fuels--including coal--in view of the “incongruities” between such financing and BMO’s public positions supporting sustainability. The resolution comes from John Harrington of Harrington Investments (HII), a socially responsible financial manager and NCIO supporter. For several years, NCIO waged a campaign to persuade the bank to drop its efforts to attract investment in an Oakland coal terminal, Oakland Bulk and Oversized Terminal (OBOT). NCIO is ...