As a major lender to retail, commercial and large corporate clients, we assess relevant environmental impacts and work to mitigate environmental liability that could accrue to TD and our clients. Within Commercial Banking, we incorporate appropriate environmental due diligence as an integral part of the lending process. Bankers conduct site visits with all borrowers, and each account is assigned an environmental risk rating. Based on the environmental risk rating, an environmental questionnaire or assessment may be required.

Similarly, on the wholesale banking side, TD Securities carefully considers a client's environmental policy and track record and conducts in-depth due diligence (including site visits, environmental questionnaires and Phase I or II reports completed by qualified, accredited third- party professionals) based on the assessed environmental risk rating. TD Securities requires all clients to represent that they are fully aware of all laws and governmental regulations as they apply to the environmental aspects of their businesses and that they are actively engaged in working with the relevant authorities to achieve and maintain compliance with those laws and regulations.

Where there are legal issues regarding the applicability of environmental law to the Bank's position, TD Securities will engage outside counsel. We also pay particular attention to each client's corporate governance practices, assessing the independence, experience and qualifications of the members of the board of directors in light of the board's duty to supervise management decision-making in all areas, including environmental responsibility.

Equator Principles
As an indication of our commitment and as a well-established framework for our approach, TD adopted the Equator Principles in 2007. Based on the policies of the World Bank and its private sector arm, the International Finance Corporation, the Equator Principles provide a framework for determining, assessing, and managing environmental and social risk in project financing. The scope, intent and procedures of the Equator Principles can be viewed at www.equator-principles.com. For more information, also read our Environmental Management Framework.

Forest and Forest Biodiversity
Forests globally, and forests in Canada - including those of high conservation value - are vulnerable to the impact of development. To take account of this vulnerability, TD is assessing and further developing its practices and guidelines for transactions that affect forest-based biodiversity. To learn more, please download our Environmental Management Framework where we lay out specific commitments in the area of Forest Biodiversity.

Climate Change and Environmental Risk
We acknowledge that Climate Change is a critical and long-term issue that will have a significant negative impact on the global economy and society if left unchecked. We believe it is important for all Canadian institutions and businesses to consider their role in shaping solutions to Climate Change. As a provider of financial solutions, we are committed to working with our clients and policymakers to help address and mitigate the particular risks and leverage opportunities created by Climate Change. Download our Environmental Management Framework for our specific commitments for Climate Change.

Aboriginal Peoples
TD acknowledges the social and economic challenges affecting many Aboriginal communities in Canada, and elsewhere in the world. TD also recognizes that the identities and cultures of many Aboriginal people are linked to the lands on which they live and the natural resources on which they depend. TD Securities will engage lending clients who may have projects or businesses affecting Aboriginal communities regarding their review of land claims and / or treaty obligations and the related risks these may pose and management strategies to address these issues. In addition, as part of our ongoing participation in various public policy forums and through our community investments, TD will continue to support social and economic development initiatives for Canada’s Aboriginal communities. To read more, please visit our Environmental Management Framework where we lay out specific commitments for Aboriginal Peoples.