Melissa Fifield has secured the Sustainability thought leader of the year, Americas award for her work leading ground-breaking climate-related finance research as the head of the BMO Climate Institute.
In the last 12 months, the institute has published more than 25 research pieces – including its second annual Business Leaders Survey and papers on the climate cost to US agriculture and real estate investment trusts (REITs).
Fifield told Environmental Finance that an area she is particularly interested in is the intersection of environmental and social impacts of climate change. As a result, she was particularly excited by the climate and social impact analysis work undertaken to help BMO identify communities it serves which are most impacted by climate hazards which can be used to support its social impact strategies.
This research was produced by one of the institute's 'Climate Fellows,' which is part of a fellowship programme which was significantly strengthened in 2024 to 15 fellows from six in 2023. Fellows are BMO employees who are allowed to spend a fifth of their time for up to six months to advance climate-related research.
Fifield added that the institute has also published a "first-of-its-kind" research with Forum Asset Management focused on the 'zero-carbon' cost and value associated with Canadian multi-unit residential buildings.
"This research was particularly exciting because it demonstrated that buildings constructed to operationally zero-carbon standards can be as profitable as those constructed in line with business-as-usual standards," she said. "Initial feedback from the industry has been positive, and our external partners have affirmed that this is an area that we should continue to explore as it can have a very real impact in how these investments are viewed and financed."
Fifield said the institute will also soon be publishing a report on US and Canadian policy responses to extreme heat, highlighting that businesses should be "mindful of the gaps" that cannot be addressed by government policies.
"Looking ahead to 2025, our areas of focus will be water scarcity and resilience, business strategy and carbon markets, agriculture and biodiversity, and net-zero outlook," she added.
