TD has a long history of environmental leadership and readying ourselves and our stakeholders for the transition to the low-carbon economy is an important priority for the Bank, which is why we have set a target of achieving net-zero GHG emissions by 2050, associated with our operations and financing activities.
We do not underestimate the scale of the challenge ahead; TD intends to establish greenhouse gas (GHG) emissions baselines across its business and financing portfolio and is setting interim GHG reduction goals on the path towards 2050.
It is a role we take seriously, and we will be part of the solution.
You can learn more about our ESG Overview here.
TD’s Climate Goals
The Path to Net‑Zero
1990
Launches the TD Friends of the Environment Foundation
(TD FEF) to restore, protect, and enhance green spaces across Canada
2010
The first North American bank to become carbon neutral
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2011
The first net-zero energy branch in North America
2014
The first commercial bank in Canada to issue a green bond dedicated to the funding of green initiatives
2015
Achieves 100% renewable electricity commitment
2017
The first Canadian bank to announce a financial target to support the transition to a low‑carbon economy
$100B by 2030 to support the transition to a low‑carbon economy through our low carbon lending, financing, asset management and internal corporate programs
Issues the largest green bond (US$1B) by a Canadian bank
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Nearly 250 TD locations earned LEED (Leadership in Energy and Environmental Design) certification
2018
Launches TD Ready Commitment
our global corporate citizenship platform
Advances clean technology innovation through investment in ArcTern Ventures’ Fund II, the development of the TD Sustainable Future Lab and expanding Patents for Startups program to help cleantech companies protect and patent their applications – a first of its kind in North America
2019
Maintains carbon neutrality, reducing operational GHG emissions by 21%, energy use by 5% and water use by 3%, since 2015
2020
Announces Climate Action Plan
and targets net-zero GHG emissions by 2050
Issues inaugural US$500 MM sustainability bond dedicated to the funding of green and social initiatives
Ends new project-specific financial services within the Arctic Circle, including the Arctic National Wildlife Refuge (ANWR)
First in the Canadian insurance industry to establish an Advisory Board on Climate Change
Contributes over $56B of our $100B low-carbon economy target through our low-carbon lending, financing, asset management and internal corporate programs in the last four years
52% of TD properties have achieved LEED, BOMA, Fitwel and Wired building certification
Maintains carbon neutrality since 2010, reducing GHG emissions by 32%, energy use by 17% and water use by 14%, since 2015
Commits to ending the purchase of single-use plastic products related to food and drink by 2025
Joined the Partnership for Carbon Accounting Financials (PCAF) to support the development of carbon accounting methodologies for financial institutions globally
Donations to TD FEF supports 479 grassroots environmental projects across Canada
TD FEF Environmental Enrichment Initiatives
Donations to TD FEF leads to a variety of local environmental improvements to help create greener and more resilient communities.
National
2 projects
$142,420
$142,420
Prairies
74 projects
$614,697
$614,697
Ontario
119 projects
$815,314
$815,314
Atlantic
39 projects
$216,979
$216,979
Pacific
82 projects
$491,789
$491,789
Quebec
33 projects
$200,625
$200,625
Metro East and West
130 projects
$996,276
$996,276
2021
TD became the first Canadian bank to set a bold target
to achieve net-zero greenhouse gas (GHG) emissions associated with its operations and financing activities by 2050
Government of Canada selects TD Securities for first-ever issuance of green bonds
Contributed more than $125 million directly to the non-profit and charitable sector through the TD Ready Commitment
Listed on the Dow Jones Sustainability World Index for the eighth consecutive year and is the top-ranked North American-based bank in the World Index.
Joins the Net-Zero Banking Alliance convened by the United Nations
Included on the Bloomberg Gender-Equality Index for the sixth consecutive year which recognizes companies committed to transparency in gender-data reporting
Joins RMI’s Center for Climate-Aligned Finance to align financial decision-making and help decarbonize the global economy
Hosted inaugural TD Securities ESG Conference to convene on the most important issues facing companies within the Financial Services sector
2022
TD sets interim 2030 financed targets for high-emitting sectors: Energy and Power Generation. Scope 3 targets represent a significant step forward as TD progresses on its path to achieving net-zero greenhouse gas emissions by 2050
TD releases its 2021 ESG Report Suite to report on its progress and share the meaningful actions the bank has taken to support of a more inclusive and sustainable future for all
By the end of
2022
TD will report in its 2021 ESG Report, to be released early 2022, on progress against its scope 1 and 2 targets. In fiscal 2022, TD will aim to publish its Scope 3 (financed emissions) targets for key carbon intensive sectors
By the end of
2025
Achieve an absolute reduction in GHG emissions from our operations (Scope 1 and 2 GHG emissions) by 25% by 2025, relative to a 2019 baseline
By the end of
2030
Achieve $100 billion by 2030 target in support of low-carbon economy through low-carbon lending, financing, asset management and internal corporate programs
By the end of
2050
Achieve net-zero GHG emissions associated with our operations and financing activities, aligned to the associated principles of the Paris Agreement