Publications2017 GRI index › General Standard Disclosures

General Standard Disclosures

Strategy and Analysis

G4-1 Statement from the most senior decision-maker in the organization.

CR Report page 1.

G4-2 Description of key impacts, risks and opportunities.

See page 8 in the CR Report for more details of this assessment.

See also:

  • Introduction to each material topic in the CR Report for a description of key impacts and effects on stakeholders
  • CR Report page 9 - Scorecard and Goals
  • AR - page 67-71 for Risk Factors That May Affect Future Results
  • AR pages 72-76 for an explanation of how TD approaches Risk Management
  • AR page 102-103 for an explanation of TD’s approach to Environmental Risk

Organizational Profile

G4-3 Name of organization

TD Bank Group

G4-4 Primary 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 serves over 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. TD also ranks among the world's leading online financial services firms, with approximately 11.5 million active online and mobile customers. TD had CDN$1.3 trillion in assets on October 31, 2017. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.

  • AR pages 24-38
G4-5 Location of headquarters

Toronto, Canada.

G4-6 Number of countries where the organization operates, and names of countries with either major operations or that are specifically relevant to the sustainability issues covered in the report.

Where We Operate: TD predominately operates in Canada and the US which is the focus of this Corporate Responsbility Report
AMERICAS: Barbados, 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

ARList of Significant Subsidiaries on page 201-202

G4-7 Nature of ownership and legal form.

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

G4-8 Markets served (including geographic breakdown, sectors served, and types of customers/beneficiaries).

TD is the sixth largest bank in North America by branches and serves over 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 investment in TD Ameritrade

Wholesale Banking includes: TD Securities

  • For more detailed information on our markets served AR pages 24-38
G4-9 Report scale of the organization.

At the end of the 2017 fiscal year, TD reported over CDN $10,587 million in adjusted net income, CDN $1,279billion in assets, 87,665 employees, maintained 2398 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 Key Financial Metrics on page 3

  • For quantity of products or services provided – see Business Segment Analysis AR pages 22 to 36
G4-10 Total number of employees by employment contract and region.
G4-11 Report the percentage of total employees covered by collective bargaining agreements.

TD General Insurance has a long-established bargaining unit of approximately 172 employees, or 0.20% of our total employee population, represented by the Teamsters Union at one of our Montreal locations

G4-12 Describe the organization’s supply chain.

CR Report page 36.

G4-13 Report any specific changes during the report period regarding the organization’s size, structure, ownership or its supply chain.

Significant events in 2017:

  • On September 18, 2017, the Bank acquired 100% of the outstanding equity of Scottrade Bank, a federal savings bank wholly-owned by Scottrade, for cash consideration of approximately $1.6 billion (US$1.4 billion). Scottrade Bank merged with TD Bank, N.A. - see AR page 15 for details.

There were no significant changes in TD’s supply chain for the 2017 fiscal year.

G4-14 Report whether and how the precautionary approach or principle is addressed by the organization.
G4-15 List externally developed economic, environmental and social charters, principles, or other initiatives to which the organization subscribes or which it endorses.
  • Equator Principles
  • Principles of Free, Prior and Informed Consent
  • Universal Declaration of 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)
G4-16 List memberships of associations.

See Memberships and Affiliations

List of Environmental Stakeholder Groups and Engagement Topics

Identified Material Aspects and Boundaries

G4-17 a) List all entities included in the organization’s consolidated financial statements or equivalent documents.
b) Report whether any entity included in the organization’s consolidated financial statements or equivalent documents is not covered by the report.

AR List of Significant Subsidiaries –201-202

TD has two philanthropic foundations which are not owned and operated by the TD Bank Group and are therefore not part of our consolidated financial statements. These are:

Assurance of financial statements See AR page 120-121
G4-18 a) Explain the process for defining the report content and the Aspect Boundaries.
b) Explain how the organization has implemented the Reporting Principles for Defining Report Content.

The Boundary of TD’s Corporate Responsibility Reporting 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 responsibility strategy and the information we provide in this report. Report contents are aligned to material topics as identified by key stakeholders.

Way in which TD uses GRI's Reporting Principles for Defining Report Content:

  • Stakeholder Inclusiveness: TD engages with a wide variety of stakeholders both for operational purposes and for consultation on the contents of the annual Corporate Responsibility Report. TD identifies it's stakeholders for the reporting process based on their relationship with the Group, influence or knowledge on current and emerging sustainability topics.
  • Sustainability Context: TD presents its reporting in terms of sustainability context by developing initiatives 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 stakeholder and topics for which TD has an impact on.
  • Completeness: This report covers material topics and their Aspect Boundaries for the 2017 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.

More Information:

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G4-19 List all the material Aspects identified in the process for defining report content.

See Material Aspects and Boundaries table

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G4-20 For each material Aspect, report the Aspect Boundary within the organization as follows:
  • Report whether the Aspect is material within the organization
  • If the Aspect is not material for all entities within the organization select one of the following two approaches and report either:
    • The list of entities or groups of entities included in G4-17 for which the Aspect is not material or
    • The list of entities included in G4-17 for which the Aspect is material
    • Report any specific limitation regarding the Aspect Boundary within the organization.

See Material Aspects and Boundaries table.

G4-21 For each material Aspect report on the Aspect Boundary outside the organization, as follows:
  • Report whether the Aspect is material outside of the organization
  • If the Aspect is material outside of the organization, identify the entities, group of entities or elements for which the Aspect is material. In addition, describe the geographical location where the Aspect is material for the entities identified
  • Report any specific limitation regarding the Aspect Boundary outside of the organization

See Material Aspects and Boundaries table.

G4-22 Report the effect of any restatements of information in previous reports, and the reason for restatements.

All restatements are provided in the footnotes of the Corporate Responsibility Report and in the Appendix-ESG Data.

G4-23 Report significant changes from previous reporting periods in the Scope and Aspect Boundaries.

There have been no significant changes to the scope of aspect boundaries of this report from previous periods.

Stakeholder Engagement

G4-24 Provide a list of stakeholder groups engaged by the organization.

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

G4-25 Report the basis for identification and selection of stakeholders with whom to engage.

Every two years we conduct a formal materiality analysis to identify, prioritize and validate the evolving material issues we face. This process involves research, media scans, stakeholder consultations and internal sustainability discussions which lead to the filtering and defining of our material topics.

More Information:

G4-26 Report the organization’s approach to stakeholder engagement, including frequency of engagement by type, stakeholder group and an indication of whether any of the engagement was undertaken specifically as part of the report preparation process.
G4-27 Report key topics and concerns that have been raised through stakeholder engagement, and how the organization has responded to those key topics and concerns including through its reporting. Report the stakeholder groups that raised each of the key topics and concerns.

TD conducts a materiality assessment every two years, the last one was conducted in 2016. For 2016 and 2017, we assessed our material topics to be: Customer Experience, Product and Service Responsibility, Financial Access and Inclusion, Financial Education, Corporate Governance and Integrity, Risk Management, Data Security and Privacy, Employee Engagement, Inclusion and Diversity, Health and Well-Being, Climate Change, Responsible Financing, Responsible Investing, Eco-Efficiency, Strategic Philanthropy, Community Capacity Building and Economic Value

More Information:

Report Profile

G4-28 Reporting period

November 1, 2016 to October 31, 2017.

G4-29 Date of most recent previous report.

2016 Corporate Responsibility Report.

G4-30 Reporting cycle

Our reporting cycle is annual.

G4-31 Provide contact point for questions regarding the report or its contents.

Email address for questions about our corporate responsibility activities and performance: crreport@td.com

G4-32 Report the ‘in accordance’ option the organization has chosen

TD has used the Global Reporting Initiative (GRI) framework for corporate responsibility reporting since 2007. TD’s 2017 Corporate Responsibility Report is written in accordance with the core option of the GRI G4 Guidelines.

G4-33 Report the organization’s policy and current practice with regard to seeking external assurance for the report.

Selected performance indicators were independently assured by Ernst & Young LLP. Ernst & Young performed a limited assurance engagement for a selection of TD’s social and environmental performance indicators including TD’s greenhouse-gas emissions and Carbon Neutral Schedule, and TD’s paper-usage figures.

+ Assurance Statement for the 2017 Paper Reduction Schedule, Corporate Responsibility Metrics, Greenhouse Gas Emissions and Carbon Neutral Schedule

+ Assurance Statement for the 2017 Green Bond Schedule

Ernst and Young LLP is the bank’s financial auditor. The Audit Committee is accountable for audit services conducted across the bank.

Governance

G4-34 Governance structure of the organization. Identify any committees responsible for decision-making on economic, environmental and social impacts.

The Board of Directors and its committees.

More information:

G4-38 Report the composition of the highest governance body and its committees.

Board Diversity (As of October 31, 2017.)

  • % of female directors: 36%
  • % of visible minority directors: 14%
  • % of independent directors: 93%

More information:

  • A full description of the tenure, experience and skills of TD’s Board of Directors can be found in our Proxy Circular from page 8-14
  • Director Independence: PC page 65
  • Diversity Policy: PC page 73-74

G4-39 Whether the Chair of the Board is also an executive officer.

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

G4-40 Nomination process including diversity, independence, skills, stakeholder engagement.
  • Nomination of directors: PC page 72
  • Competencies and Skills Matrix: PC page 73
G4-41 Board conflicts of interest
  • Director conflict of interest: PC page 72
G4-43 Report the measures taken to develop and enhance the highest governance body’s collective knowledge of economic, environmental and social topics.

Corporate responsibility is a key part of TD’s strategy and is managed within a framework of internal control, governance and risk-management processes.

See Corporate Responsibility Governance Structure: CR Report page 3

More Information:

G4-45 Report the highest governance body’s role in the identification and management of economic, environmental and social impacts, risks, and opportunities.

See Corporate Responsibility Governance description in G4-43.

See also the feedback from stakeholders in the CR Report page 7. Feedback from the stakeholders is reviewed and discussed at the Corporate Responsibility Steering Committee and the Corporate Citizenship Council.

G4-46 Report the highest governance body’s role in reviewing the effectiveness of the organization’s risk management processes for economic, environmental and social topics.

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

  • Reviewing and assessing the Bank’s corporate responsibility strategy and reporting, including monitoring its environmental and social performance; and,
  • Keeping abreast of international trends and best practices in corporate disclosure of non-financial performance and updating the Board on social and environmental issues, as necessary.

More information

G4-48 Report the highest committee or position that formally reviews and approves the organization’s sustainability report and ensures that all material Aspects are covered.

The CEO approves the corporate responsibility report.

G4-49 Process for communicating critical concerns to the highest governance body.

Shareholders and employees and other interested parties may communicate with the Board of Directors through the Chairman of the Board,
By mail to:
Mr. Brian M. Levitt
Chairman of the Board
The Toronto-Dominion Bank
P.O. Box 1, Toronto-Dominion Centre
Toronto, Ontario M5K 1A2

G4-51 Board remuneration and link to ESG.
  • Full details on executive compensation: PC starting on page 24-25.
G4-52 Process for determining Board remuneration.
  • PC pages 74.
G4-53 Process to seek stakeholder views on remuneration, including the results of votes on remuneration policies and proposals.
  • PC starting on page 24.
  • 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 2017, the motion received 94.7% support

Ethics and Integrity

G4-56 Describe the organization’s values and principles.
G4-57 Report the internal and external mechanisms for seeking advice on ethical and lawful behavior, and matters related to organizational integrity, such as helplines or advice lines.

See CR Report pages 33 and 59

G4-58 Report the internal and external mechanisms for reporting concerns about unethical or unlawful behavior, and matters related to organizational integrity.

See CR Report pages 33 and 59