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TD Bank Group

CEF Lead Executives

Latest Sustainability Reporting

Highlights

 

  • Reduced Scope 1 and 2 GHG emissions by 29% in 2024 (2019 baseline).
  • Reduced financed emission lending intensity in the energy sector 16% in 2024,and physical emissions intensity in the power generation, automotive manufacturing and aviation sectors by 10%, 2%, and 2% respectively (2022 baselines).
  • Increased support to environmental, decarbonization and social activities to $145.9 billion through lending, financing, investing and other services in 2024, up from $69.5 billion in 2023.
  • Invested $854 million in community giving, cumulatively since 2019, up from $685 million in 2023.
  • Achieved its goal of reaching 500,000 participants through TD-led and supported financial education initiatives in Canada and the U.S. in 2024.
  • Provided $5.9 billion in affordable housing financing in Canada and the U.S. (cumulatively since 2023).
  • Increased the number of women in roles titled Vice President or above to 42.7% in 2024 from 41.6% in 2023.
  • Increased the number of Black, Indigenous, and minority representation in roles titled Vice President or above to 25.7% in 2024, up from 24.3% in 2023.

Recent News

2023

Announced new ESG and sustainable finance measures. This includes a new CAD$500 billion ($363.5 billion) Sustainable & Decarbonization Finance Target by 2030, and new Scope 3 financed emissions 2030 targets for two additional sectors: aviation (8% intensity reduction) and automotive manufacturing (a 50% “tank to wheel” intensity reduction), from a 2019 baseline. (March 2023)

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2022

RUBICON CARBON — Launched as a new carbon credit platform to scale and provide easier access to high-integrity emissions reduction solutions by vetting projects and their credits. Rubicon received an initial capital commitment of $300 million from CEF member TPG, with a total capital commitment target of $1 billion. As part of its launch, Rubicon also formed a coalition of corporate sustainability leaders to help guide its platform and product development, including CEF members Bank of America, Dow, GE, Honeywell, J.P. Morgan, JetBlue, McKinsey & Co., and TD Bank. (Dec 2022)

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Set new Paris-aligned targets for its financed emissions in the Energy sector and Power Generation sector. By 2030, the company is targeting a 29% reduction over a 2019 baseline in financed emissions for the Energy sector (including clients involved in thermal coal mining, low-carbon fuels and technologies, and the exploration, transportation, and refining of oil and gas) and a 58% reduction over 2019 in financed emissions for the Power Generation sector (including clients involved in the generation of power). Targets cover clients’ operational emissions (Scopes 1 and 2) and end-use Scope 3 emissions (i.e., emissions that result from the end-use combustion of fossil fuels). (March 2022)

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2021

Climate Action 100+ The group of 615 investors managing $60 trillion in assets released a new report through IIGCC detailing their expectations for electric utility companies’ net-zero transitions. They called on utilities to target net-zero emissions by 2035 in developed countries and by 2040 in developing countries, as well as a minimum 50% emission reduction by 2030. They also expect companies to commit to providing a “just” net-zero transition. Climate Action 100+ investors include CEF members BlackRock, Fidelity Investments, J.P. Morgan Asset Management (JPMorgan Chase & Co.’s asset management division), and TD Asset Management (of TD Bank Group). (Oct 2021)
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TPG — Announced a first close of $5.4 billion for the TPG Rise Climate Fund, the largest climate-focused fund in the world. Over 20 global companies—including CEF members 3M, ADM, Alphabet, Apple, Bank of America, Boeing, Dow, GE, General Motors, Honeywell, and TD Bank Groupparticipated in the close and will form a Rise Climate Coalition. The fund will take a broad sector approach, focusing on growth equity to value-added infrastructure to driving solutions for 5 climate sub-sectors. (Aug 2021)
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RE100 — The RE100 companies, which are committed to 100% renewable electricity, now have an electricity demand greater than that of the U.K. or Italy and are on track to save CO2 emissions equal to burning over 118 million tons of coal per year. RE100 members include CEF Members: 3M, Apple, Bank of America, Bloomberg, Dell Technologies, Ecolab, Facebook, General Motors, Google, Hewlett Packard Enterprise, HP Inc., Johnson & Johnson, JPMorgan Chase & Co., Mastercard, McKinsey & Co., Microsoft, Morgan Stanley, PepsiCo, Procter & Gamble, Siemens AG, TD Bank Group, Trane Technologies, Unilever, and Visa. (July 2021)
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2020

TD Bank Group issued a $500 million sustainability bond to “finance and/or refinance loans, investments and internal or external projects” that are considered to be environmentally or socially responsible under the bank’s Sustainable Bonds Framework. This is the Bank’s first-ever sustainability bond issuance. (October 2020)

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TD Bank committed CDN$1 million to help front-line community health centers meet local needs, in collaboration with the Canadian Association of Community Health Centers and the U.S.-based National Association of Community Health Centers. (April 2020)

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