In 2008 we embarked on a journey to become a leader in environmental performance within the financial services sector. We initiated the re-development of an Environmental Management System that aims to embed environmental considerations into all areas of our business.
In 2009, we began broad implementation of key initiatives. Our focus is threefold:
- To reduce our operational footprint;
- To provide green product and service choices for our customers; and
- To engage with our communities and environmental stakeholders in order to raise awareness of environmental issues and inform public policy.
TD was named one of Jantzi-Maclean's 50 Most Socially Responsible Corporations in 2009
To date, most of our focus has been in Canada. In 2010, we will significantly strengthen programs in our U.S. operations.
TD is one of just a few banks in the world to set a goal for its business operations to become carbon-neutral. Our goal is to reduce the amount of energy that we use, which reduces our reliance on fossil fuels.
We have set an aggressive schedule of achieving carbon neutrality in our global operations by 2010. Our strategy consists of three components:
|How We Will Achieve Carbon Neutrality||2010 Target|
|1) Reducing energy use||Reduce greenhouse gas (GHG) emissions by 5% compared to 2006 baseline|
|2) Purchasing renewable energy||Reduce GHG emissions by 20%|
|3) Purchasing carbon offsets||Offset remaining emissions by developing and purchasing high-quality carbon offsets|
One of the challenges we found in 2009 was as an early adopter of carbon neutrality, there were few existing standards to follow. In response, we developed standards and procedures for the purchase of renewable energy and high-quality carbon offsets.