Reporting – Bank of Montreal (2016 – 2017)

Adoption Date:15 September 2005
Country of Headquarters:Canada
Region of Headquarters:North America
Institutional Reporting Hyperlink:http://www.bmo.com/home/about/banking/corporate-responsibility/customers/responsible-lending#project_financing
Current EPFI Reporting Year/Period:1 November 2016 - 31 October 2017
EPFI Reporting in Compliance:Yes

Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the Equator Principles Association website.

Further information on this EPFI may be obtained through the Institutional Reporting Hyperlink above.

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: 5

Totals140
Totals140
SectorCategory ACategory BCategory C
Mining
Infrastructure
Oil & Gas
Power4
Others1
RegionCategory ACategory BCategory C
Americas14
Europe, Middle East & Africa
Asia Pacific
Country DesignationCategory ACategory BCategory C
Designated114
Non-Designated
Independent ReviewCategory ACategory BCategory C
Yes14
No

1Designated 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. For the list of Designated Countries, go to: https://www.equator-principles.com/index.php/ep3/designated-countries

PROJECT NAME REPORTING FOR PROJECT FINANCE TRANSACTIONS

No.Project NameSectorHost Country Name/ Project LocationYear of Financial Close
1St. Columban Wind ProjectPowerCanada2017
2AES Southland Repowering ProjectPowerUSA2017
3North Kent Wind ProjectPowerCanada2017
4Belle River Wind ProjectPowerCanada2017
5McInnis Cement Inc.OthersCanada2017

PROJECT-RELATED CORPORATE LOANS

Total number that reached financial close in the reporting period: 1

Totals100
SectorCategory ACategory BCategory C
Mining
Infrastructure
Oil & Gas1
Power
Others
RegionCategory ACategory BCategory C
Americas1
Europe, Middle East & Africa
Asia Pacific
Country DesignationCategory ACategory BCategory C
Designated11
Non-Designated
Independent ReviewCategory ACategory BCategory C
Yes1
No
Totals100

1Designated 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. For the list of Designated Countries, go to: https://www.equator-principles.com/index.php/ep3/designated-countries

IMPLEMENTATION OF THE EQUATOR PRINCIPLES

The Equator Principles (Principles) are an important part of BMO’s evaluation of all:

  • Project Financial Advisory Services where total project capital costs are greater than US$10M;
  • Project Finance with total project capital costs greater than US$10M;
  • Project-Related Corporate Loans where, among other requirements, the total aggregate loan is at least US$100M; and
  • Bridge Loans with a tenor of less than two years that are intended to be refinanced by Project Finance or Project Related Corporate Loans based on the criteria set out in the Principles.

BMO follows a disciplined approach to lending, which requires adherence to internal financing guidelines. Project Finance financing guidelines incorporate both the Principles and sound environmental management practices. The Project Finance financing guidelines require the Principles to be addressed as part of the credit approval process which require final authorization/approval by BMO’s credit risk management group. BMO’s Director, Environmental, Social and Governance provides support and guidance to BMO employees in their application of the Principles.

Further detail is available at http://www.bmo.com/home/about/banking/corporate-responsibility/customers/responsible-lending#project_financing