Environmental
Material Topic: Climate ChangeGRI 103: Management Approach 2016 | ||
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Disclosure | Description | |
Reference or Response | ||
103-1 | Explanation of the material topic and its boundary | |
ESG Report
page 37 Climate change is a top risk for TD. With continued severe weather events and risks related to the move toward a low-carbon economy, ensuring a sustainable future has never been more important. The 2021 report from the United Nations Intergovernmental Panel on Climate Change (IPCC), dubbed a “code red for humanity”, throws into sharp perspective the need for urgent, collective, inclusive and global action on climate change and the move toward a low-carbon future. Through our Climate Action Plan, we are working to embed climate considerations across our business lines and create effective business solutions. | ||
103-2 | The management approach and its components | |
ESG Report
page 37 Accountability: The Senior Vice President, Sustainability and Corporate Citizenship and the Executive Vice President, Non-Financial Risk Management have senior executive accountability for environmental and social strategy and risk management, respectively. The ESG Senior Executive Team (SET) Forum provides regular oversight on ESG and climate strategy development. The ESG Central Office (ECO) helps define roles and responsibilities in the Bank’s Climate Target Operating Model (TOM) and contributes to the identification and development of implementation plans in line with our climate objectives. The ECO monitors progress on the TOM and updates the Board on status and risks. The Leadership and Strategy Hub within the ESG Centre of Expertise (COE) supports all COE Hubs. The Leadership and Strategy Hub helps set TD’s ESG agenda and strategy, including those for climate, by drawing on expertise and experience from across the enterprise. Updates on ESG strategy progress are regularly shared with the SET ESG Forum and the Board. Ways we measure our approach: We measure our climate impact by monitoring and calculating our Scope 1 & 2 and certain Scope 3 emissions (e.g., Purchased Goods & Services, Capital Goods, Business Travel, etc.) on an annual basis. For the first time this year, we have also started to quantify our Scope 3 financed emissions. Understanding our emissions impact enables us to track progress against our target to achieve net-zero GHG emissions associated with our operations and financing activities by 2050. In addition to measuring our GHG emissions, we also track our energy consumption, Renewable Energy Credits (RECs) purchases, and carbon neutrality performance. | ||
103-3 | Evaluation of the management approach | |
ESG Report page 37 | ||
GRI 201: Economic Performance 2016 | ||
201-2 | Financial implications and other risks and opportunities due to climate change | |
ESG Report
page 37 2021 CDP Submission Environmental and Social Credit Risk Process AR pages 70, 103-104 on Environmental & Social Risk CAP | ||
SDG Target 13.1: Climate change resilience and adaptive capacity | ||
GRI 302: Energy 2016 | ||
302-1 | Energy consumption within the organization | |
ESG Report: 2021 Performance Data page 93-94 and 90 for Notes to GHG Emissions | ||
SDG Targets 12.5, 12.6, 12.7 - Encourage the responsible and efficient use of resources through the Bank’s operations by focusing on reducing waste and encouraging the transition to a circular economy | ||
302-3 | Energy intensity | |
ESG Report: 2021 Performance Data pages 93-94 TD calculates energy intensity:
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302-4 | Reduction of energy consumption | |
ESG Report: 2021 Performance Data pages 93-94 | ||
SDG Targets 12.5, 12.6, 12.7 - Encourage the responsible and efficient use of resources through the Bank’s operations by focusing on reducing waste and encouraging the transition to a circular economy | ||
GRI 303: Water and Effluents 2018 | ||
303-5 | Water consumption | |
ESG Report: 2021 Performance Data page 94 | ||
SDG Targets 12.5, 12.6, 12.7 - Encourage the responsible and efficient use of resources through the Bank’s operations by focusing on reducing waste and encouraging the transition to a circular economy | ||
GRI 305: Emissions 2016 | ||
305-1 | Direct (Scope 1) GHG emissions | |
ESG Report: 2021 Performance Data pages 87-89 and 90 for Notes to GHG Emissions | ||
305-2 | Energy indirect (Scope 2) GHG emissions | |
ESG Report: 2021 Performance Data pages 87-89 and 90 for Notes to GHG Emissions | ||
305-3 | Other indirect (Scope 3) GHG emissions | |
ESG Report: 2021 Performance Data pages 87-89 and 90 for Notes to GHG Emissions | ||
G4FS-EN15 | Business travel | |
ESG Report: 2021 Performance Data page 89 | ||
305-4 | GHG emissions intensity | |
ESG Report: 2021 Performance Data pages 87-89 | ||
305-5 | Reduction of GHG emissions | |
CAP TD’s Interim Scope 1 and 2 GHG Emissions Reduction Target Advancing Our Climate Action Plan: Methodology for TD’s Interim Financed Emissions Targets ESG Report: 2021 Performance Data pages 87-88 ESG Report: 2021 Performance Data page 91 for the dollars financed, number of deals, and reductions by TD Auto Finance customers and the number of discounts and reductions by TD Auto Insurance customers. | ||
GRI 306: Waste 2020 | ||
306-3 | Waste generated | |
ESG Report: 2021 Performance Data page 94 | ||
SDG Targets 12.5, 12.6, 12.7 - Encourage the responsible and efficient use of resources through the Bank’s operations by focusing on reducing waste and encouraging the transition to a circular economy | ||
306-4 | Waste diverted from disposal | |
ESG Report: 2021 Performance Data page 94 | ||
SDG Targets 12.5, 12.6, 12.7 - Encourage the responsible and efficient use of resources through the Bank’s operations by focusing on reducing waste and encouraging the transition to a circular economy | ||
306-5 | Waste directed to disposal | |
ESG Report: 2021 Performance Data page 94 | ||
SDG Targets 12.5, 12.6, 12.7 - Encourage the responsible and efficient use of resources through the Bank’s operations by focusing on reducing waste and encouraging the transition to a circular economy | ||
Material Topic: Sustainable FinanceGRI 103: Management Approach 2016 | ||
103-1 | Explanation of the material topic and its boundary | |
ESG Report
page 42 Leveraging our products and services, TD can support our clients in the transition to an inclusive, low-carbon future while supporting sustainable economic growth. To play a role in bringing sustainable finance into the mainstream, we continue to look for ways to direct capital flows toward opportunities that drive positive outcomes for the environment and society. With sustainable finance, we can create innovative ways to make progress against the priorities of our ESG Framework and Climate Action Plan. As we continue to broaden our offerings, we can provide our customers options that enable them to make conscious choices that contribute to a more sustainable society. | ||
103-2 | The management approach and its components | |
ESG Report
page 42 Accountability: Environmental Governance (AR page: 103), Reputational Risk Committee, Corporate Governance Committee Ways we measure our approach: Number of corporate lending transactions reviewed under E&S Credit Risk Process, Equator Principles Project Finance Transactions, number of stakeholder engagements on ESG topics, range of product and service offerings that deliver environmental and social benefits.TD has targeted a total of $100 billion to support low-carbon initiatives through lending, financing, asset management and internal corporate programs by 2030. | ||
103-3 | Evaluation of the management approach | |
ESG Report page 42 | ||
G4-FS10 | Percentage and number of companies held in the institution's portfolio with which the reporting organization has interacted on environment or social issues | |
ESG Report page 42 |