Publications2018 GRI index › General Disclosures

GRI 102: General Disclosures 2016

Organizational Profile

102-1 Name of the organization

TD Bank Group

102-2 Activities, brands, products, and services

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group. TD is the sixth largest bank in North America by branches and services more than 25 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, which includes Canadian personal and commercial banking, wealth and insurance businesses, U.S. Retail which includes U.S. personal and business banking, wealth management services, the Bank's investment in TD Ameritrade, and Wholesale Banking which includes Global Markets services, Corporate and Investment Banking. TD also ranks among the world's leading online financial services firms, with more than 12 million active online and mobile customers. TD had $1.3 trillion in assets on October 31st, 2018 and 84,383 average full-time equivalent employees in FY2018. The Toronto-Dominion Bank trades under the symbol 'TD' on the Toronto and New York Stock Exchanges.

See also:
AR page 25.
AR page 29-30 (Key Canadian Product Groups), page 35 (Key U.S. Product Groups), page 38 (Wholesale Banking Lines of Business).

102-3 Location of headquarters

Toronto, Canada

102-4 Location of operations

Where we operate: TD predominately operates in Canada and the Eastern seaboard of the U.S. which is the focus of this ESG Report.

Americas: Barbados, Bermuda, Cayman Islands, Canada, United States.
Europe: Amsterdam-The Netherlands, Dublin- Ireland, Luxembourg, United Kingdom.
Asia-Pacific: Sydney-Australia, Hong Kong, Mumbai- India, Seoul- South Korea, Shanghai- China, Singapore, Tokyo- Japan, Tel-Aviv- Israel.

AR page 212-213 List of Significant Subsidiaries.

102-5 Ownership and legal form

The Toronto-Dominion Bank is chartered under the Bank Act (Canada). It was formed on February 1st, 1955 through the amalgamation of The Bank of Toronto, chartered in 1855, and The Dominion Bank, chartered in 1869. The Toronto-Dominion Bank trades under the symbol 'TD' on the Toronto and New York Stock Exchanges.

102-6 Markets served

TD is the sixth largest bank in North America by branches and services more than 25 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, U.S. Retail and Wholesale Banking.

Canadian Retail includes: TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance.

U.S. Retail includes: TD Bank, America's Most Convenient Bank, TD Auto Finance U.S., TD Wealth (U.S.), and an equity investment in TD Ameritrade.

Wholesale Banking includes: TD Securities.

For more detailed information on our markets served see AR page 25-42.

102-7 Scale of organization

At the end of FY2018, TD reported CDN $12,183 million in adjusted net income, up from CDN $10,587 million in FY2017, 91,868 employees, maintained 2,355 branches and stores across Canada and the U.S. TD operates internationally through our offices in the Americas, Europe and Asia-Pacific.

For total capitalization, see AR Financial Highlights on page 14.

For quantity of products or services provided, see the Business Segment Analysis in the AR pages 25-42.

102-8 Information on employees and other workers

2018 TD Bank Group Workforce Profile
ESG Report page 42
2018 ESG Appendix page 11

102-9 Supply chain

ESG Report page 30

102-10 Significant changes to the organization and its supply chain

Significant events in 2018:
On November 1st, 2018, the Bank acquired 100% of the outstanding equity of Greystone Capital Management Inc., the parent company of Greystone Managed Investments Inc. (Greystone).

For more information see AR page 18.

There were no significant changes in TD's supply chain for FY2018.

102-11 Precautionary Principle or approach

ESG Report page 52 on Risk Management
ESG Report page 16-18 on Responsible Finance
ESG Report page 19-20 on Responsible Investing

102-12 External initiatives
  • Equator Principles
  • Principles of Free, Prior and Informed Consent
  • Universal Declaration of Human Rights
  • BSR Working Group on Human Rights
  • Leadership in Energy and Environmental Design (LEED)
  • Carbon Pricing Leadership Coalition
  • Corporate Buyers Renewable Energy Principles
  • Green Bond Principles
  • RE100
  • UNEP Financial Initiative (North America)
  • UN PRI (Principles for Responsible Investment)
  • UN PSI (Principles for Sustainable Insurance)
  • CBA TCFD Working Group and UNEP FI TCFD Pilots
102-13 Memberships and associations

Memberships and Affiliations
List of Stakeholder Engagements on Environmental and Social Topics

Strategy

102-14 Statement from senior decision-maker

ESG Report page 1

102-15 Key impacts, risks, and opportunities

Introduction to each material topic in the ESG Report for a description of the key impacts, opportunities and effects on stakeholders.

  • ESG Report page 9 - ESG Scorecard and Goals.
  • AR page 67-71 Risk Factors and Management: Risk Factors That May Affect Future Results.
  • AR page 74-102 Risk Factors and Management: Managing Risks for an explanation on how TD approaches Risk Management.
  • AR page 103 Environmental Risk for an explanation on how TD approaches Environmental Risk.

Ethics and Integrity

102-16 Values, principles, standards, and norms of behaviour

AR page 1
Code of Conduct

102-17/SASB Mechanisms for advice and concerns about ethics

ESG Report page 47 and 55

Governance

102-18 Governance structure

Corporate Governance Structure
Corporate Governance: Committees of the Board
ESG Report page 3 Corporate Citizenship Governance Structure
Diversity Governance
ESG Report page 52

102-20 Executive-level responsibility for economic, environmental, and social topics

ESG Report page 55 on Corporate Governance & Integrity
TCFD Report page 4
2018 CDP Response page 8-20

102-21 Consulting stakeholders on economic, environmental, and social topics

List of Stakeholder Engagements on Environmental and Social Topics

102-22 Composition of the highest governance body and its committees

Board Diversity (as of October 31st, 2018)
% of female directors: 36%
% of visible minority directors: 14%
% of independent directors: 93%

Average tenure: 7 years

More information:
A full description of the tenure, experience and skills of TD's Board of Directors can be found in our PC page 8-15
PC page 66 for Director Independence
PC page 74-75 for Diversity Policy

102-23 Chair or the highest governance body

The Chairman of the Board and the Chief Executive Officer of TD Bank are separate roles.

102-24 Nominating and selecting the highest governance body

PC page 73 for Nomination of directors
PC page 74 for Competencies and Skills Matrix

102-25 Conflicts of interest

PC page 73 for Director conflict of interest

102-26 Role of the highest governance body in setting purpose, values, and strategy

The Corporate Governance Committee has oversight of TD's Corporate Responsibility strategy and performance. The following responsibilities are included in the committee charter:

  • Review the bank’s annual Corporate Responsibility Report with management focusing on enhanced disclosures on environmental and social issues.
  • Receive management’s presentation on international ESG trends, including the bank’s disclosures in alignment with the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures.
  • Receive briefings on the development and launch of the bank’s ‘‘The Ready Commitment’’ including the bank’s involvement in contributing to sustainable development goals and community giving.
  • Keep abreast of international trends and best practices in corporate disclosure of non-financial performance.
  • Update the Board on social and environmental issues as necessary.
  • Prior to any required Board approval, reviewing the bank's statement on human trafficking and slavery.

The Corporate Citizenship Council (CCC) composed of senior executives from the bank's main business segments and corporate functions. The CCC is responsible for approving environmental strategy and performance standards, and communicating these throughout the business.

Corporate Governance Committee Charter
AR page 103 on Environmental Risk

102-27 Collective knowledge of the highest governance body

Sustainability is a key part of TD's strategy and is managed within a framework of internal control, governance and risk management process.

More information:
ESG Report page 54
Diversity Governance

102-28 Evaluating the highest governance body's performance

PC page 76

102-29 Identifying and managing economic, environmental and social impacts

Feedback from stakeholders is reviewed and discussed at the ESG Steering Committee and the Corporate Citizenship Council. See also the feedback from stakeholders in the ESG Report on page 6 and the List of Stakeholder Engagements on Environmental and Social Topics.

102-30 Effectiveness of risk management processes

See disclosure GRI 102-26
Corporate Governance Committee Charter
PC page 75-76 for Board Assessments
AR page 103

102-31 Review of economic, environmental, and social topics

ESG Report page 3
PC page 34 and 81

102-32 Highest governance body's role in sustainability reporting

The CEO approves the ESG Report.

102-33 Communicating critical concerns

Shareholders, employees and other interested parties may communicate with the Board of Directors through the Chairman of the Board.

By mail:
Mr. Brian M. Levitt
Chairman of the Board
The Toronto-Dominion Bank
P.O. Box 1, Toronto-Dominion Centre
Toronto, Ontario M5K 1A2

By email:
c/o TD Shareholder Relations to tdshinfo@td.com

102-35 Remuneration policies

PC page 26-49 for full details on executive compensation

102-36 Processes for determining remuneration

PC pages 26-49

102-37 Stakeholders' involvement in remuneration

PC page 26
At TD's AGM, shareholders may cast a non-binding vote on the advisory to executive compensation. The results can be found on our website. For FY2018, the motion received 93.5% support.

Stakeholder Engagement

102-40 List of stakeholder groups

TD's primary stakeholders include: customers, employees, shareholders/investors and government regulators. Our secondary stakeholders include: community organizations, industry associations, suppliers and non-governmental organizations.

More information:
ESG Report page 6 'How we listen to stakeholders'
Overview of TD's Materiality Process and Approach to Stakeholder Engagement for a list of external stakeholders we engage with for the purposes of our annual ESG Report
List of Stakeholder Engagements on Environmental and Social Topics for a list of stakeholders that engage with TD on a wide range of topics

102-41 Collective bargaining agreements

TD General Insurance has a long-established bargaining unit of approximately 182 employees, or 0.20% of our total employee population, represented by Teamsters Union at one of our Montreal locations.

102-42 Identifying and selecting stakeholders

Every two years we conduct a formal materiality assessment to identify, prioritize and validate the evolving material issues we face. Our most recent assessment was for this FY2018 ESG Report. This process involves research, media scans, stakeholder consultations and internal sustainability discussions which lead to the filtering and defining out material topics.

Overview of TD's Materiality Process and Approach to Stakeholder Engagement for an explanation of our stakeholder engagement.

102-43 Approach to stakeholder engagement

Overview of TD's Materiality Process and Approach to Stakeholder Engagement for a list of stakeholders engaged for the purposes of the report and our approach to engagement.

102-44 Key topics and concerns raised

TD conducts a materiality assessment every two years, the last one was conducted in 2018. For 2018, key topics are: Customer Experience, Data Security and Privacy, Social and Economic Inclusion, Product and Service Responsibility, Climate Change, Responsible Financing, Diversity and Inclusion, Talent Attraction, Engagement and Retention, Human Capital Development.

Reporting Practice

102-45 Entities included in the consolidated financial statements

AR page 212-213 for a list of significant subsidiaries
TD has two philanthropic foundations which are not owned and operated by TD Bank Group and are therefore not part of our consolidated financial statements.

These are:
TD Friends of the Environment
TD Bank Charitable Foundation
AR page 120-121 for Assurance of Financial Statements

102-46 Defining report content and topic Boundaries

The Boundary of TD's ESG Report encompasses all of TD's wholly-owned operations and activities which are organized around the following operating business segments: Canadian Retail, U.S. Retail and Wholesale Banking.

We conduct a formal materiality analysis every two years to identify, prioritize and validate the evolving environmental, social and governance issues for TD. This process involves research, media scans, stakeholder consultations and internal sustainability discussions which lead to the filtering and defining of our material topics. This process helps us track stakeholder interests and concerns and identify new issues as they emerge.

The findings drive our corporate citizenship strategy and the information we provide in this report. Report contents are aligned to material topics as identified by key stakeholders.

Ways in which TD uses GRI's Reporting Principles for Defining Report Content:
Stakeholder Inclusiveness: TD engages with a wide variety of stakeholders through various channels and for many purposes including input on topics for the annual ESG report. TD identifies its stakeholders for the reporting process based on their relationship with the Group, influence or knowledge on current and emerging ESG topics.
Sustainability Context: TD develops initiatives and projects that look to address larger scale sustainability issues (such as the shift to a low-carbon economy).
Materiality: TD reports on sustainability topics which are of significant importance to its stakeholders and topics that TD may impact.
Completeness: This report covers material topics and their Boundaries for the 2018 reporting cycle. Topics have been prioritized and presented in order to provide a comprehensive picture of TD's activities and impacts in the reporting year.
ESG Report page 6 and 7
Overview of TD's Materiality Process and Approach to Stakeholder Engagement
GRI Boundary Table
List of Stakeholder Engagements on Environmental and Social Topics

102-47 List of material topics

ESG Report page 7
GRI Boundary Table

102-48 Restatement of information

Restatements are provided in the text and footnotes of the ESG Report as well as in the footnotes of the ESG Appendix.

102-49 Change in reporting

There have been no significant changes on the list of material topics or topic Boundaries.

102-50 Reporting period

TD's Fiscal Year: November 1st 2017-October 31st 2018

102-51 Date of most recent previous report

TD's 2017 Corporate Responsibility Report (April, 2017)

102-52 Reporting cycle

Annual

102-53 Contact point for all questions regarding the report

Email address for questions about our ESG Reporting and performance: crreport@td.com

102-54 Claims of reporting in accordance with the GRI Standards

This report is written in accordance with the GRI Standards: Core option.

102-55 GRI content index

This table.

102-56 External Assurance

Ernst & Young performed a limited assurance engagement for a selection of TD's social and environmental disclosures including TD's GHG emissions and Carbon Neutral Schedule. Ernst and Young LLP is the bank’s financial auditor. The Audit Committee is accountable for audit services conducted across the bank.
2018 Assurance Statement
2018 Assurance Statement on the Green Bond Schedule