Bank of Montreal (2024)
| Signing Date | 15 Sep 2005 |
| Region of Headquarters: | North America |
| Current EPFI Reporting Year/Period: | 2024 |
| Institutional Reporting: | No Report Available |
Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the EP website.
Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.
Project Finance Advisory Services
Total number mandated in the reporting period: 0
Project Finance Transactions
Total number that reached Financial Close in the reporting period: 12
| Equator Principles Category | A1 | B2 | C3 |
|---|---|---|---|
| Sector | |||
| Mining | |||
| Infrastructure | 2 | ||
| Oil & Gas | 2 | 1 | |
| Power | 4 | ||
| Others | 2 | 1 | |
| Region | |||
| Americas | 2 | 7 | 3 |
| Europe, Middle East & Africa | |||
| Asia Pacific | |||
| Country Designation | |||
| Designated Country 4 | 2 | 7 | 3 |
| Non Designated Country | |||
| Both | |||
| Independent Review | |||
| Yes | 2 | 7 | 3 |
| No | |||
| Totals | 2 | 7 | 3 |
Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.
Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.
Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.
Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment.
Project-related Refinance & Project-related Acquisition For Project Finance
Total number that reached Financial Close in the reporting period: 0
Project Name Reporting For Project Finance (And Project-related Refinance & Project-related Acquisition Finance For Project Finance)
| No. | Project Name | Sector | Project Location(s) | Year of Financial Close |
|---|---|---|---|---|
| 1 | Trillium Health Partners | Infrastructure | Canada | 2024 |
| 2 | Eglinton Crosstown West Extension - Advance Tunnel 2 | Infrastructure | Canada | 2024 |
| 3 | Woodfibre LNG LP | Oil & Gas | Canada | 2024 |
| 4 | Cedar Floating Liquefied Natural Gas Project | Oil & Gas | Canada | 2024 |
| 5 | Cedar Link Expansion | Oil & Gas | Canada | 2024 |
| 6 | Fibre Connect | Others | Canada | 2024 |
| 7 | e-VAC Magnetics LLC | Others | United States | 2024 |
| 8 | Urban Grid Partnership 2 Development Fundco, LLC | Power | United States | 2024 |
| 9 | UGP3 Fundco LLC | Power | United States | 2024 |
| 10 | UGP4 FundCo, LLC | Power | United States | 2024 |
| 11 | Novilla Debt Holdings I, LLC | Others | United States | 2024 |
Number of projects that were not disclosed as per the disclosure conditions specified in Annex B of the Principles: 1
Under EP4, project name reporting is required for Project Finance transactions that have reached Financial Close and encouraged for Project-Related Corporate Loans that have reached Financial Close.
Project-Related Corporate Loans
Total number that reached Financial Close in the reporting period: 3
| Equator Principles Category | A1 | B2 | C3 |
|---|---|---|---|
| Sector | |||
| Mining | |||
| Infrastructure | |||
| Oil & Gas | |||
| Power | 3 | ||
| Others | |||
| Region | |||
| Americas | 3 | ||
| Europe, Middle East & Africa | |||
| Asia Pacific | |||
| Country Designation | |||
| Designated Country 4 | 3 | ||
| Non Designated Country | |||
| Both | |||
| Independent Review | |||
| Yes | 3 | ||
| No | |||
| Totals | 3 | ||
Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.
Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.
Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.
Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment.
Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans
Total number that reached Financial Close in the reporting period: 0
Project Name Reporting For Project-related Corporate Loans (And Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans)
Number of projects that were not disclosed as per the disclosure conditions specified in Annex B of the Principles: 3
Under EP4, project name reporting is encouraged for Project-Related Corporate Loans that have reached Financial Close and required for Project Finance transactions that have reached Financial Close.
EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.
Implementation of the Equator Principles
The EP framework is incorporated into BMO’s credit and risk management policies and procedures including our Project Finance Financing Guideline, certain sector-specific Financing Guidelines and the Environmental and Social Risk Financing Guideline.
Corporate Banking and Commercial Banking (“First Line”) are responsible for identifying whether a project-related transaction falls within the scope of the EP framework as part of the Corporate and Commercial lending process at BMO, with support and effective challenge of the second line as needed and appropriate.
The Sustainability Office, which reports to the Chief Sustainability Officer, provides advisory support on EP implementation to the First Line and is notified of EP transactions as part of Environmental and Social Risk due diligence, as applicable. The First Line may engage a third-party environmental consultant to assess the consistency of project-related financing transactions with the EP.
The First Line is responsible for recommending transactions for approval in accordance with relevant policies and financing guidelines, and managing reputational risks in accordance with the Reputation Risk Management Framework.