The Bank of Montreal (BMO) has acknowledged Compugen’s noteworthy contributions to the bank’s green initiatives in its recently published 2021 Sustainability Report and Public Accountability Statement. Through the Canadian IT firm’s Green4Good program, the Montreal-based financial firm avoided 2,865 tons of GHG emissions last year.
“Our ultimate goal is to fully integrate circular economic practices into our operations and advance BMO’s overall sustainability objectives. We partner with preferred suppliers such as Compugen to facilitate these efforts,” the report said.
North America’s eighth-largest bank has been carbon-neutral since 2010 but has embarked on a more profound mission to cut its 2008 absolute carbon emissions by 15%.
Compugen has been working with BMO since 2018 to support its sustainability goals. This joint effort has led to more than 180,000 bank-owned assets processed through Green4Good, hundreds of thousands of dollars raised for charity, and millions saved through IT asset cost avoidance.
“We are delighted to be recognized by BMO for our part in their sustainability efforts. Technology has become an integral part of 21st-century business – it is important to have a thorough understanding of its environmental costs and figure out ways we can offset them. Through the Green4Good program, Compugen will continue to support BMO’s dedication to sustainable business practices and corporate citizenship,” said Compugen’s Brad King, senior director for sales strategy.
Green4Good is an award-winning initiative that works with environmentally driven organizations towards their corporate citizenship goals by recycling or repurposing outgoing IT hardware and giving old devices a second lease on life. Businesses then receive credits that can be directed towards charities, social programs, or the purchase of new hardware. The refurbished devices are remarketed to those who will benefit from the technology the most, such as schools, small businesses, and communities in need.
The program is part of Compugen’s commitment to promoting a circular economy and is designed to achieve the three pillars of sustainability: generate revenue, create positive ecological impact through reduced carbon emissions, and support community development. Since its inception, Green4Good has processed close to 2 million IT assets, and raised $3.5 million for over 225 different charities worldwide.