BMO Acquires Emissions Measurement and Carbon Credit Provider Radicle Group
Canadian financial services provider BMO Financial Group announced today an agreement to acquire Calgary-based sustainability advisory services and solutions Radicle Group.
Radicle Group was founded in 2008, and started off by developing one of the world’s first software platforms to measure, qualify, and aggregate greenhouse gas emissions. The company has grown to 130 employees, and serves more than 4,000 clients globally, providing solutions to help companies increase efficiency and lower costs and emissions, and as a developer of carbon offsets.
Radicle’s management team and employees will become part of BMO Capital Markets’ Global Markets group upon closing of the transaction, anticipated by the end of 2022.
Saj Shapiro, CEO of Radicle, said:
“Radicle’s mission is to enable planet-positive solutions by balancing economic interests with ecological impact. By joining BMO, Radicle will be able to continue serving its existing customers, accelerate its emissions reduction efforts, scale its activities across BMO’s client network, develop additional sustainability services, and enter new markets.”
The acquisition follows the launch last year of BMO’s Climate Ambition, which included a series of its own climate commitments from operational emissions reductions to reaching net zero emissions by 2050, and a goal to become the lead partner for clients in their own net zero transitions.
BMO Capital Markets CEO, Dan Barclay said:
“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. 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.”