An Environmental Leader
TD was the first large North American-based bank to declare that our business operations were carbon-neutral, delivering on a promise that was made in 2008. We have learned a great deal through the process of becoming carbon-neutral. And we’ve been able to apply this knowledge to drive our business forward:
- By understanding how our existing buildings use energy, we’ve reduced operating costs through energy-savings initiatives and developed new green-building designs to ensure future branches and stores will be more energy-efficient.
- By purchasing renewable energy for our business operations and ATM network, we learned about renewable energy business, and this enabled us to launch a renewable energy financing program for residential, small business and commercial customers.
- By developing innovative carbon offsets with our social partners, we’ve been able to help create jobs in the green economy.
Twenty and Counting
We congratulate TD Friends of the Environment Foundation, one of Canada’s longest-serving environmental charities, on their 20th anniversary.
One of the biggest questions for 2011 has been what comes next. What is our goal beyond carbon neutrality? Based on dialogue with our environmental stakeholders, we have developed four pillars to TD’s environmental program that will help drive our strategy forward:
2010 Challenges Our Response
- A lack of an enterprise-wide environmental management system.
- We are developing an ISO14001-based environmental management system.
- Reducing our operational footprint while TD continues to grow through acquisition and expansion.
- We began development of intensity-based performance metrics.
- How to assess climate change risk in financing activities without consistent and comprehensive regulation in North America.
- We improved our due diligence procedures and performed a carbon sensitivity assessment of TD’s lending portfolio.
- Understanding the risk associated with renewable energy and meeting growing customer demand for financing products.
- We launched renewable financing products and produced an online customer guide.
- Working to reduce our paper usage, when some internal procedures are paper intensive.
- TD Bank launched a major paper reduction initiative.