The Financial Post reports in its Thursday edition that Bank of Montreal is forming an investment-banking group to advise companies looking to shift to alternative sources of energy. The Post's Stefanie Marotta writes that the energy transition group (ETG), as part of BMO's capital markets division, plans to help companies identify opportunities to adopt green technologies and programs just as banks and large companies are grappling with the challenge of adopting alternatives to fossil fuels. Aaron Engen, BMO's investment and corporate banking vice-chair, said that many of BMO's clients have already formed their own energy transition groups and have been increasing their efforts on sustainability. The group, which will be co-led by Mr. Engen and sustainable finance managing director Jonathan Hackett, will work with BMO Capital Markets' industry employees in energy, power utilities and infrastructure, metals and mining, industrials, and food and retail. The group aims to advise companies across sectors on opportunities to adopt green technology -- including hydrogen, renewable power and electric vehicles -- and introduce them to businesses that could help them meet climate goals and find ways to finance those projects.
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