- $225,000 donation to One Tree Planted to aid in urban planting projects
- BMO volunteers and One Tree Planted partners will host two volunteer planting events, one in Los Angeles County and one in San Francisco
SAN FRANCISCO, Calif., April 26, 2023 /CNW/ - BMO today continues its commitment to a sustainable future with a $225,000 donation to One Tree Planted, driving progress in urban planting projects to increase tree canopy in under-resourced communities in California. Ensuring there are trees in these communities can help address several disparities including heat exposure and air quality. BMO's support enables foresters to improve vegetation planning and resource management, relieving heat pressure and improving air quality.
"BMO is proud to play a part in recovering greenspace and improving community health through tree planting. This commitment will help provide a better quality of life in the communities we serve," said Kimberley Goode, Chief Communications and Social Impact Officer, BMO. "Aligned with our Purpose to Boldly Grow the Good in business and life, BMO's partnership with One Tree Planted reinforces our commitment to making progress for a sustainable future."
One Tree Planted is a national organization focused on global reforestation to create habitats for biodiversity and make a positive social impact around the world. Their urban planting projects produce ecological benefits including habitat rehabilitation, erosion control, air pollution reduction and carbon dioxide sequestration. Tree planting also aids in the conservation of rainfall water, improves soil health by reducing stormwater runoff and enhances community health by providing shade in neighborhoods overlooked during previous tree placement.
Along with the donation, BMO employees and One Tree Planted partners will host two volunteer planting events, one in Inglewood in Los Angeles County on April 27 and the other in San Francisco on July 29.
In conjunction with the City of Inglewood, BMO's donation will expand an ongoing initiative to plant 700 new trees throughout the community, which includes 100 street trees and 600 residential fruit trees. 3,000 individuals in 5 neighborhoods will enjoy the benefits of the trees planted.
As the lead sponsor for the San Francisco Bay Area project, BMO's donation will help One Tree Planted plant fruit and community trees throughout the Little Hollywood neighborhood. With a focus on replacing dead trees and stumps with new trees, 330 trees will be planted in 2023, with an additional 170 trees planned for 2024. Nearly 30,000 individuals in 13 under-resourced neighborhoods will benefit from the project.
Earlier this year, BMO supported One Tree Planted's reforestation project by planting 9,400 trees, with one tree planted for each Bank of the West employee that joined BMO on February 1. In addition, from February 7 to March 31, BMO donated $1 for each qualifying transaction made by BMO Digital Banking users.
This announcement also follows on BMO's third annual Trees from Trades program on April 19th which resulted in 125,000 new trees for a three-year total of 375,000, which can fill BMO Stadium over 271 times.
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.15 trillion as of January 31, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 12 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and more inclusive society.
SOURCE BMO Financial Group