Our Environmental, Social and Governance (ESG) strategy reflects the commitments we make and is represented by the actions we take together to drive progress. It is embedded in our proven business model, guided by our purpose and inspired by our forward focus. The TD Ready Commitment accelerates and amplifies our collective actions in the communities we serve.
ESG: From purpose to impact
Sustainable
Finance
One of our greatest opportunities
to facilitate environmental progress
in society is through lending and banking solutions.
Diversity and inclusion are part of our fundamental values that help us support our customers, colleagues and communities.
Our Global
Diversity,
Equity &
Inclusion Work
TD was the first Canadian bank to
announce a financial target to support
the transition to a low-carbon economy.
By 2030, we hope to achieve $100-billion
in low-carbon lending, financing, asset management and internal corporate programs.
Supporting
Climate
Opportunities
In every country in which TD
operates, we support and respect
the protection of human rights.
Respecting
Human
Rights
Our ability to attract, develop, deploy and retain the best diverse talent is critical to maintaining our legendary customer experience.
Talent
Attraction,
Development
and Retention
We are reducing greenhouse gas emissions in our lending portfolio by setting ambitious and achievable targets to reach net-zero emissions by 2050, which includes near-term goals. Learn more about our approach on how to achieve net-zero emissions and our interim 2030 sector targets.
Our
Methodology
TD commits to ambitious Climate Action Plan and targets net-zero emissions
by 2050
TD Economics: Three steps policymakers must take now to support workers displaced by Canada's clean energy transition
2021 Annual Report
Reports &
Publications
Insights
In the News
2021 TD’s Climate Action Plan: Report on progress and update on TCFD
Reports &
Publications
Don’t let history repeat: Canada’s energy sector transition and the potential impact
on workers
Insights
TD Insurance creates advisory body on climate change
In the News
Our Climate Action Plan reflects our commitment
to take action to support a just transition to the
low-carbon economy. This is a critical priority for
us, both within our operations and with clients,
so we can deliver new approaches and creative
solutions that support a vibrant planet. As we
focus on the work ahead to get there, we do so
with a strategic mindset and commitment to
concentrate our efforts on where we can drive
the greatest impact.
“
Group Head and General Counsel,
TD Bank Group
TD was the first North American-based
bank to become carbon neutral and the
first Canadian bank to announce a Climate
Action Plan that outlined targets for net-zero emissions associated with our operating and financing activities by 2050, aligned to the associated principles of the Paris Agreement.
Climate
Action Plan
“
Guided by our purpose, and building on decades of social and environmental progress, TD will continue to make bold commitments and take meaningful action in support of a more inclusive and sustainable future for all. Climate change is an urgent priority, and as a global financial institution, TD has an important role to play to help accelerate the transition to a net-zero world. The recent release of our interim financed emissions targets
is a significant step forward in our Climate Action Plan, and one that represents our ongoing commitment to work together with our clients and other stakeholders to help build the low-carbon economy of tomorrow.
Group President and Chief Executive Officer,
TD Bank Group
“
At TD, we are committed to being part of the solution. Our work is made possible through the determined efforts of our people, our philanthropy, our business and the continued collaboration with non-profits and community-based groups. Together, we're focused on catalyzing meaningful change through social impact and ESG efforts.
Senior Vice President,
Corporate Citizenship and Sustainability,
TD Bank Group
Find out more
TD's Climate Goals
The path to net zero
On the path
to net zero
TD is proud to be the first Canadian bank
to join other global banks in this commitment to develop and transparently share its Scope 3 targets, as well as a practical methodology that helps chart progress along the journey to achieve net-zero emissions by 2050.
Our Commitments
Our Leadership
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• Creation of a new TD Sustainable Finance and Corporate Transitions Group to provide clients with advisory services and important transition and sustainability-focused financing globally.
• A new TD ESG Centre of Expertise that brings together experts from across TD to participate in global efforts to improve data measurement and analytics, invest in research, and support academic progress and technological innovation.
• Not providing new project-specific financial services for activities that are directly related to the exploration, development, or production of oil and gas within the Arctic Circle, including the Arctic National Wildlife Refuge (ANWR).
TD’s Climate Action Plan includes:
Our 2030 financed emissions targets represent the next step forward in our net-zero commitment. We prioritized the Energy and Power Generation sectors for our initial release of 2030 interim financed emissions targets as those sectors are significant contributors to current global emissions. As a result, these targets will help spur large-scale transformation of the global energy supply away from fossil fuels and towards low-carbon solutions.
Our approach to developing financed emissions targets builds on existing industry frameworks,
as per the IEA WEO (International Energy Agency World Energy Outlook) scenario, and is utilized by financial institutions in aligning their financing activities with the Paris Agreement.
Setting emissions reduction targets requires a number of scoping and methodology decisions. Find out more about these financed emissions targets, how we’re focusing on an initial set of high-emitting sectors, and our guiding principles in our Target-Setting Methodology Paper.
The combined resources and continued collaboration across the private, public and research sectors are needed to help successfully transition each industry and the broader economy. TD customers and clients want TD to address climate change as an urgent issue and support their efforts. However, they are concerned about the economic and social implications of the transition for the future of the communities in which they live. We intend to understand the
unique challenges and opportunities within key industries and work closely with businesses, regulators and organizations as they build and deploy their transition programs. There are clear opportunities to accelerate progress in many sectors, while others will require
significant planning and investment.
Achieving the goals of the Paris Agreement will require collective effort over the long term, with complex transition strategies within and across multiple industries. In many cases, new solutions will need to be envisioned, developed and deployed at scale.
A collective journey
• We have established an ESG Centre of Expertise to participate in the global efforts needed
to enable the low-carbon economy.
• We are providing clients with advisory services and important transition and sustainability-
focused financing globally through the newly formed Sustainable Finance and Corporate
Transitions group within TD Securities.
• We announced a $1.25-million, five-year commitment to the Institute for Sustainable
Finance (ISF30) to support aligning mainstream financial markets with Canada’s transition
to a lower-carbon economy.
• We joined Net Zero Banking Alliance (NZBA) and Glasgow Financial Alliance for Net Zero (GFANZ),
to bring our deep expertise and strong balance sheets to drive solutions for the sustainable
economy that Canada and the world needs.
• We joined the Partnership for Carbon Accounting Financials (PFAC) to support the
development of carbon accounting methodologies for financial institutions globally.
Here are a few concrete steps we have taken:
Read more
Achieving the goals of the Paris Agreement will require collective effort over the long term, with complex transition strategies within and across multiple industries. In many cases, new solutions will need to be envisioned, developed and deployed at scale.
A collective journey
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Our memberships
and accreditations
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2021 TD Ready Commitment Report
Reports &
Publications
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Carbon Capture:
Why It Shouldn't Be Ruled Out as a Key Piece of the Net Zero Puzzle
Insights
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TD Asset Management Inc launches new
funds focused on sustainable investing
In the News
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TD’s Interim Scope 1
and 2 GHG Emissions Reduction Target
Reports &
Publications
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Canada-wide carbon pricing offers opportunities, but
is not without risks
Insights
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TD Bank Group issues first-ever sustainability bond to support environmental and social initiatives
In the News
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Six of Canada's
largest banks
join United-Nations-convened Net-Zero Banking Alliance
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Q&A with Bob Dorrance about the energy sector and environmental sustainability
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How TD is keeping
up with the growing demand for socially responsible investing
In the News
In the News
In the News
Norie C. Campbell
Janice Farrell Jones
Bharat Masrani
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The only bank to be engaged in all pilots of the UN Environment Programme’s Finance Initiative's Task Force on Climate-Related Financial Disclosures – investing, lending, and insurance.
TD Asset Management became a signatory to the UN Principles for Responsible Investment in 2009 and was the first investment business of a major Canadian financial institution to advance its commitment to ESG integration and investment analysis.
TD has been listed on the Dow Jones Sustainability World Index for eight consecutive years and is the top ranked North American-based bank on this index.
TD pledged to join the Net-Zero Banking Alliance (NZBA), along with five of Canada's other largest banks. This United Nations-convened, industry-led initiative aims to accelerate efforts to address climate change, and TD is committed to being a central player in the work needed to enable sustainable growth.
In 2021, TD was included on the Bloomberg Gender Equality Index for the sixth consecutive year.
TD was named World's Best Employers by Forbes for 2021 and Canada's Best Workplaces by Great Place to Work for the 16th consecutive year.
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The Paris Agreement is a legally binding international treaty on climate change. It was adopted by 196 Parties at COP 21 in Paris, on 12 December 2015 and entered into force on 4 November 2016. Its goal is to limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels.
Did you know:
Source: United Nations Climate Change.
Source: United Nations Climate Change.
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Our Shared Ambition
Our Approach
Recognitions
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11 key highlights from the 2021 TD ESG reports
In the News
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Explained: Financed emissions and the next step on the path to net zero for TD
In the News
Building Tomorrow Together: 2021 Environmental, Social and Governance Report
Reports &
Publications
TD Economics
2021 ESG Report
2021 TD Ready Commitment Report
ESG Policies and References
ESG Publications
Achieving the goals of the Paris Agreement will require collective effort over the long term, with complex transition strategies within and across multiple industries. In many cases, new solutions will need to be envisioned, developed and deployed at scale.
A collective journey