Our goal is to embed environmental considerations into our core business strategy though forward-looking policy, effective management systems and demonstrated performance.
Environmental Policy and Management Systems
Our environmental policy, developed in late 2007, sets out our core environmental principles. It is supported by an Environmental Management Framework that describes our environmental priorities and Environmental Procedures and Processes for implementing initiatives in priority areas.
During 2009, we focused our activities on building our Environmental Procedures and Processes, including:
- GHG Inventory Protocol
- Carbon Offset Standard of Good Practice
- Environmental and Social Credit Risk Management Procedures
- TDAM Sustainable Investing Policy
- TDAM Stakeholder Engagement Policy
- Environmental Procurement Policy
- Credit Risk Assessment and Review Manual
In early 2010, we plan to update our Environmental Policy, upgrade our information management systems and continue to improve enterprise and business-unit processes and procedures. Our goal is to develop an enterprise Environmental Management System that will be consistent with ISO-14001 standards. (Read the 2010 updated Environmental Policy here.)
An important next step in the development of our policy instruments will be to review our Environmental Management Framework in order to ensure that it fully reflects the priorities of our fully integrated North American bank.
To achieve our leadership goals requires support from the top down and the bottom up. Here is an overview of our environmental governance structure at TD.
The Risk Committee holds overall responsibility for setting environmental policy and ensuring that TD has developed management structures, systems and procedures to support the policy.
The Group Head of Corporate Operations holds senior management accountability for environmental management.
The Group Head is supported by the Chief Environment Officer, who leads the Corporate Environmental Affairs team.
The Group Head and Corporate Environmental Affairs team are responsible for developing enterprise-wide environmental strategy, setting environmental performance standards and targets, and reporting on performance.
The Group Head also leads an enterprise-wide Environmental Management Steering Committee comprised of senior managers from TD’s main business units. This steering committee is responsible for approving environmental strategy and performance standards, and communicating these throughout the business.
TD’s business units are responsible for implementing the environmental strategy within their units.
At the business-unit level, our environmental governance structure is being modified as we continue to integrate our Canadian and U.S. operations into a North American model.
2009 Environmental Governance Highlights
During 2009, we developed a U.S. Green Council, chaired by the Executive Vice President Shared Services, TD Bank, and comprised of U.S. business unit heads, regional senior managers, and the Chief Environment Officer. The Council focuses on the development and implementation of a U.S. Environmental Plan.
We also established an enterprise-wide Operational Footprint Steering Committee and working groups for energy reduction, building design and operation and procurement.