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Sustainable Bonds

Key Information

Leaders in the Transition

We believe that there is an intrinsic link between economic growth and environmental sustainability, and we are playing a key role in the transformation.

TD is committed to being a sustainability leader and is working to embed environmental and social principles into its products and processes.

As the first Canadian bank to set a bold target to finance the transition to the low-carbon economy, we are targeting $100 billion, in total, in low-carbon lending, financing, asset management and internal corporate programs by 2030.

Green, social and sustainability bonds (collectively "sustainable bonds") and loans are one way of demonstrating our commitment to increasing the flow of capital to low-carbon and socially responsible economic growth.

Issuing

$2.4 billion

TD Bank has issued one sustainability and two green bonds to date.

In 2014, we issued a C$500 million green bond that was the first from a Canadian commercial bank.

In 2017, we issued a US$1 billion green bond that was upsized from US$500 million.

In 2020, we issued a US$500 million sustainability bond which was upsized from US$300 million, and was the first-ever sustainability bond in SOFR format.

Investing

$1.3 billion

TD's Treasury and Balance Sheet Management team publicly committed to incorporating green investments into the bank's investment portfolio and has purchased approximately $1.3 billion in green bonds since 2014.

Underwriting

Over $21 billion

Participated in by TD in sustainable bond underwriting since 2010.

The TD Securities Debt Capital Markets team has a strong role in helping to expand green and sustainable bond markets through underwriting bonds for issuers globally and has led several world-first transactions.

Upholding the Principles

TD is a proud member of the Green Bond Principles, the Social Bond Principles, and the Sustainability Bond Guidelines and is an active participant in a number of International Capital Market Association (ICMA) working groups.

We promote transparency, disclosure and integrity in the development of the sustainable bond market by aligning our regularly-updated framework with the ICMA Principles.

Our framework is verified by second-party expert opinion and our independent auditor, Ernst & Young LLP, provides us with annual assurance on the allocation and impact reporting of proceeds.

Learn more about our program

Browse our document library below, read our latest ESG Report, or contact your TD Securities representative for more information.

TD Sustainable Bond Issuance Overview
ISIN Issue date Coupon Amount Maturity Issuer entity
US89114QCL05 September 23, 2020 SOFR +45bps USD$500,000,000 September 28, 2023 The Toronto-Dominion Bank
US89114QBT40 September 7, 2017 1.850% USD$1,000,000,000 September 11, 2020 The Toronto-Dominion Bank
CA891145N340 March 28, 2014 1.824% CAD$500,000,000 April 3, 2017 The Toronto-Dominion Bank
TD Sustainable Bond Issuance Library
Bond Frameworks  
TD Sustainable Bonds Framework (2020)
TD Green Bond Framework (2017)
Investor presentations and term sheets  
TD Sustainable Bond (2020) Term Sheet
TD Green Bond (2017) Term Sheet
TD Green Bond (2014) Term Sheet
Green Bond Reporting  
TD Green Bond (2017) Issuance – Use of Proceeds 2019
TD Green Bond (2017) Issuance – Use of Proceeds 2018
TD Green Bond (2017) Issuance – Use of Proceeds 2017
TD Green Bond (2014) Issuance – Use of Proceeds 2017
TD Green Bond (2014) Issuance – Use of Proceeds 2016
TD Green Bond (2014) Issuance – Use of Proceeds 2015
External reviews  
TD Green Bond (2017) EY Assurance Statement 2019
TD Green Bond (2017) EY Assurance Statement 2018
TD Green Bond (2017) EY Assurance Statement 2017
TD Green Bond (2017) DNV GL Eligibility Assessment
TD Bank Group Green Bond Framework (2017) DNV GL Eligibility Assessment
TD Green Bond (2014) EY Assurance Statement 2016
TD Green Bond (2014) EY Assurance Statement 2015
TD Green Bond (2014) EY Assurance Statement 2014