Friday, June 19, 2015

TD Takes Environmental Responsiblity Seriously

TD is working to integrate environmental responsibility into every aspect of their business. In 2010 TD was the first bank to go entirely carbon-neutral. In 2011, four yeas ahead of schedule they reached their goal to reduce greenhouse gas emissions by one metric ton per employee by 2015, relative to 2008 levels. This represents a 28 percent reduction in carbon per person.

They continue to work on lowering their environmental footprint despite their ongoing growth. Like so many enterprises TD is reducing their GHG emissions, improving efficiency, greening their supply chain, minimizing their use of paper, reducing waste and lowering their water consumption. Most recently they have been named a 2015 Green Lease Leader by the US Department of Energy's Better Buildings Alliance and Institute for Market Transformation.

The award acknowledges companies who effectively use their lease to drive energy and water savings-offering substantial business and environmental benefits. TD has applied their green lease approach to approximately 4 million square feet across Canada and the US representing 16 percent of their footprint.

TD is also engaged in responsible financing for both lending and investing. They use strict criteria to monitor the social and environmental impacts of our financing. They also help customers meet their own environmental goals through their product and service options.

In addtion to conforming to Environmental and Social Risk Policy and The EquatorPrinciples, TD has established policies, procedures and reporting mechanisms to identify environmental and social risks. TD does not finance transactions relating to the following:
  • Activities within World Heritage sites. 
  • Activities that would result in the degradation of protected critical natural habitats as designated by the World Conservation Union classification and International Financial Corporation standards. 
  • Activities that would involve the purchase of timber from illegal logging operations. 
  • Mountain top removal coal mining. 
  • Production or trade in any product or activity deemed illegal under host country laws or regulations (including those ratified under international conventions and agreements). 
  • Production or trade in wildlife or products regulated under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). 
  • Deals that directly relate to the trade in or manufacturing of material for nuclear, chemical or biological weapons or for land mines or cluster bombs. 
  • TD does not lend money for transactions that are directly related to the mining of “conflict” minerals. Investing 

As a signatory to the United Nations Principles for Responsible Investing (UNPRI), TD Asset Management (TDAM) is committed to integrating environmental, social and governance (ESG) considerations into its investment decision-making process.

As part of its UNPRI commitment, TDAM publishes an annual report summarizing how the principles have been implemented and the progress so far (Implementation of the Principles for Responsible Investment (pdf)). TDAM adopted its Sustainable Investment Policy in 2009 and applies ESG considerations to all of its investments.

However, 5 percent of their total financing involves clients operating in environmentally and socially sensitive industries such as mining, oil and gas extraction, power & utilities, forestry, automotive, chemicals and manufacturing.

A full update on their performance can be found in their Corporate Responsibility Report.

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