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Debt Information

Green Bonds


Green bonds address a growing need identified by governments and investors to finance initiatives that support economic growth and provide environmental benefit. TD has actively supported this growing market by:

  • Issuing the first green bond from a Canadian commercial bank in 2014.
  • Issuing one of the largest green bonds by a bank in the developed markets, with a US$1 billion issuance in the United States in 2017.
  • Publicly committing to incorporating green bonds into the bank's treasury investment portfolio through TDBG's Green Bond Investment Statement – a first by a North American based bank.
  • Participating in underwriting over C$6.5 billion in green bonds since 2010.

TD Green Bonds

In 2014 TD issued the first green bond from a Canadian commercial bank - a C$500 million three-year bond that matured on April 3, 2017. TD issued its second green bond, a US$1 billion three-year bond maturing on September 11, 2020, which is one of the largest offerings by a bank in the developed markets. TD Green Bonds support North American projects that contribute to the low carbon economy through:

  1. Renewable energy generation: Investments that help supply energy from renewable and low carbon sources.
  2. Energy efficiency and management: Investments that help reduce energy consumption or help manage and store energy.
  3. Green infrastructure and sustainable land use: Investments that support conservation, sustainable land, waste or water management, and enhance climate resiliency.

TD is a member of the Green Bond Principles, which promotes transparency, disclosure, and integrity in the development of the green bond market. The TD Green Bond Framework aligns with the Green Bond Principles and is verified by an independent expert. Proceeds from the sale of the Notes are held in a segregated portfolio until they are allocated to eligible green projects. An independent expert provided second party opinion for TD's recent issuance. Ernst & Young LLP provides annual assurance on the allocation and reporting of proceeds to eligible projects.

TD Green Bonds fund the financing or refinancing of projects that meet the TD Green Bond Eligibility Criteria. Click here for examples of specific projects funded by the first TD Green Bond and a summary of its use of proceeds.

To learn more about TD and the environment, please visit our Corporate Responsibility Report, which is hosted on the TD Corporate Responsibility website: http://www.td.com/corporate-responsibility/index.jsp