Canada’s BMO acquires sustainability provider

Canadian banker BMO Financial Group said July 20 it had entered into a definitive agreement to acquire Calgary-based Radicle Group, which provides sustainability advisory services and technology-driven emissions measurement and management solutions.

Founded in 2008, Radicle has established a reputation as a leading developer of carbon offsets and for helping organisations measure and reduce emissions. It has 130 employees and over 4,000 clients globally.

“The acquisition of Radicle supports BMO’s climate ambition to be our clients’ lead partner in the transition to a net-zero world, and the progress we’re making for a thriving economy, a sustainable future, and an inclusive society,” said Dan Barclay, CEO of BMO Capital Markets. “Radicle’s leading expertise and innovative solutions make BMO a leader in carbon credit development capabilities and the environmental commodity market. These capabilities enhance our commitment to help our clients understand and manage the risks and opportunities of energy transition.”

Upon closing, expected by the end of this year, Radicle’s management team and its employees will become part of BMO Capital Markets’ global markets group. Closing remains subject to required regulatory approvals and other customary conditions.