Habitat for Humanity and TD Bank Financial Group join forces to reduce greenhouse gas emissions by building super energy efficient homes
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TORONTO, Sept. 2 /CNW/ - TD Bank Financial Group (TD) and Habitat for Humanity today announced a groundbreaking new program whereby TD will support Habitat for Humanity by donating $750,000 over three years to build energy efficient housing geared toward low-income families. Initially, the program will focus on reducing energy use in new homes built by Habitat for Humanity by upgrading heating systems, insulation and windows. But this is just the beginning. TD and Habitat for Humanity are also exploring ways to increase the energy efficiency of Habitat for Humanity homes by making more use of green building materials and developing community heating solutions.
Through the program, Habitat for Humanity expects that an average 1,000 square foot home will have annual heating and hot water costs of just $350 a year - compared with about $1,050 for a typical house of that size in Canada.
"This is an exciting, pioneering program and a creative extension of the support we've received from TD over the years," says Neil Hetherington, Chief Executive Officer of Habitat for Humanity Toronto. "Not only will our new homeowners use less energy and reduce greenhouse gas emissions, but their energy costs will be lowered, enabling them to set aside money for other necessities such as their children's education."
TD was the first bank in Canada, and one of just a few in the world, to set a goal for its business operations to become carbon neutral by reducing its reliance on fossil fuel energy sources.
<< TD will reach its carbon neutral goal by: - Using less energy by improving the energy efficiency of its premises and business operations. For example, a recent lighting retrofit project at 34 TD Canada Trust branches resulted in annual electricity savings of 1,223,393 kWh, which is equivalent to the electricity use of more than 100 homes each year. - Investing in electricity from clean, renewable energy sources such as wind and low impact water power. TD's entire Canadian ABM network has been powered by green energy since 2008, and as of July 2009 all electricity for TD's operations in BC, Alberta, Saskatchewan, Nova Scotia and PEI is powered by renewable energy, making TD one of the largest corporate purchasers of renewable energy in Canada. - Neutralizing any remaining emissions by investing to eliminate greenhouse gases outside TD. Today's announcement with Habitat for Humanity is an example of how TD can create "offsets" by working with social partners and other non-profits to reduce their emissions through investments in clean technology and energy retrofit projects. >>
"We're thrilled to be part of an innovative program to build energy efficient homes," says Karen Clarke-Whistler, Chief Environment Officer, TD Bank Financial Group. "This program will put more money in the pockets of Habitat families, reduce greenhouse gas emissions, and provide a model for affordable energy-efficient housing in Canada. It's a great example of how we can all contribute to living in the low carbon economy - it's a win for the families, the environment, and TD."
About TD Bank Financial Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group. TD Bank Financial Group is the sixth largest bank in North America by branches and serves approximately 17 million customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Insurance; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking through TD Banknorth and TD Bank, America's Most Convenient Bank; and Wholesale Banking, including TD Securities. TD Bank Financial Group also ranks among the world's leading online financial services firms, with more than 5.5 million online customers. TD Bank Financial Group had CDN$545 billion in assets on July 31, 2009. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
About Habitat for Humanity
Habitat for Humanity is a non-profit, faith-based organization working for a world where everyone has a safe and decent place to live. Our mission is to mobilize volunteers and community partners in building affordable housing and promoting homeownership as a means to breaking the cycle of poverty.
There are 72 affiliate organizations of Habitat for Humanity in Canada. Habitat for Humanity International spans 93 countries and has to date built over 300,000 homes, and is now building a new home every 10 minutes.
For further information: Matthew Cram, TD Bank Financial Group, (416)
983-1514, matthew.cram@td.com; Neil Hetherington, Habitat for Humanity
Toronto, (Office) (416) 755-7353 ext. 232, (Cell) (416) 436-4190,
neil@torontohabitat.on.ca, www.torontohabitat.ca