Environment
Working to Become an Environmental Leader
Overview
We’re committed to being an environmental leader.
We’re one of only a handful of banks in the world to be carbon neutral and we’re the only bank in North America to have a Chief Environment Officer.
We develop innovative carbon offset projects that have a positive social impact, and we offer our customers a range of green products and services.
Learn more about our environmental initiatives by reading the stories below.
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TD stores go green in the U.S.
In 2010, TD became the largest North American-based bank to become carbon neutral.
How did we get there? By building greener buildings, lowering energy consumption and making a significant investment in renewable energy from sources like wind, solar and low-impact hydro power. For example, we purchased enough renewable energy to supply electricity to our entire U.S. operation and our network of 2,600 automated banking machines.
The new green design of our future branches – known as stores in the U.S. – will play a role in keeping TD Bank carbon neutral. This year we unveiled our new prototype design and opened three new green stores in communities from Maine to Florida based on the design. The new 350-square-metre stores use 50 per cent less energy than our previous design. Among other green features, the stores include solar panels and solar drive-through canopies that will produce 20 per cent of the store’s energy, wood from sustainably managed forests and sensors to make sure lights aren’t on when they don’t need to be. The stores will be maintained with green cleaning products and will recycle paper, cardboard, glass, metal, plastics and disposable batteries.
“We’re committed to protecting the environment and reducing the greenhouse gas emissions we produce by developing innovative buildings and working to promote environmental responsibility among our employees and customers,” says Fred Graziano, Head of Retail Banking for TD Bank, America’s Most Convenient Bank.
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Helping students help the environment
Thinking green paid off for four groups of Canadian post-secondary students – winners of the third annual TD Friends of the Environment Foundation (TD FEF) Go Green Challenge.
Thinking green paid off for four groups of Canadian post-secondary students – winners of the third annual TD Friends of the Environment Foundation (TD FEF) Go Green Challenge.
The competition invites teams from universities and colleges across Canada to submit proposals for initiatives that would have a positive environmental impact on communities. This year, 124 teams from 45 post-secondary institutions competed, with teams from the University of British Columbia, the University of Manitoba, the University of Western Ontario and Université de Sherbrooke each taking one of the four $25,000 awards.
"When it comes to building a greener future through innovation, Canadian students continue to rise to the challenge," says Mary Desjardins, Executive Director, TD FEF. "This year, students collectively wrote nearly half a million words on environmental sustainability, with ideas ranging from tea farms to storm water systems to biofuels."
Since 1990, TD FEF has provided more than $53 million in funding to over 19,000 grassroots environment and wildlife projects across Canada. Visit the TD FEF website to learn more.
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The greening of Main Street
This year, the TD Friends of the Environment Foundation (TD FEF) formed a partnership with Tree Canada, a not-for-profit organization that has planted more than 76 million trees across the country since it was established in 1992. TD FEF is now the title sponsor of Tree Canada’s flagship Green Streets program.
This year, the TD Friends of the Environment Foundation (TD FEF) formed a partnership with Tree Canada, a not-for-profit organization that has planted more than 76 million trees across the country since it was established in 1992. TD FEF is now the title sponsor of Tree Canada’s flagship Green Streets program.
What is TD Green Streets? A program that provides grants of up to $15,000 to help green Canadian municipalities and First Nations communities.
"Having TD FEF onboard is a giant leap forward in our outreach to build stronger, self-sustaining green infrastructure in our communities," said Michael Rosen, President of Tree Canada. "TD FEF is without a doubt the ideal sponsor for this program."
In 2010, the TD Green Streets program received 110 grant applications – a record number. Twenty communities were selected to receive grants to fund projects that ranged from removal of invasive species to revitalizing downtown streetscapes to community planting programs.
"The overwhelming number of innovative ideas we received demonstrates a deep understanding of the fact that trees have a positive impact on our communities," says Mary Desjardins, TD FEF’s Executive Director. "We're proud to support community programs to make greener streets a priority where we live and work."
Since 1990, TD FEF has provided more than $53 million in funding to over 19,000 grassroots environment and wildlife projects across Canada. Visit the TD FEF website to learn more.
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Financing renewable energy projects
Until recently, it hadn’t been easy to get financing for smaller-scale renewable energy initiatives, such as those that might be undertaken by small businesses, homeowners or farmers. “It’s an emerging field, and lending products weren’t available,” says Karen Clarke-Whistler, TD’s Chief Environment Officer.
Until recently, it hadn’t been easy to get financing for smaller-scale renewable energy initiatives, such as those that might be undertaken by small businesses, homeowners or farmers. “It’s an emerging field, and lending products weren’t available,” says Karen Clarke-Whistler, TD’s Chief Environment Officer. “There was a definite gap and, as ‘the green bank,’ we felt we needed to step up.”
TD’s commercial and retail lending groups got together to bring about change. “Rather than reinvent the wheel, we looked at our existing lending products and asked ourselves how they could be adapted to cover smaller renewable energy initiatives,” she explains. “We also leveraged the knowledge we’ve gained through our own purchase of renewable energy as part of our commitment to carbon neutrality.”
Today, the TD Canada Trust website outlines all the green lending products available to our customers and clients. “We've been building our expertise in this area so we’re better able to meet the needs of people who want to undertake a green project such as installing solar panels,” says Alec Morley, Senior Vice President, Small Business Banking, TD Canada Trust. “The reality is renewable energy initiatives are good for the environment and they’re good for our customers’ bottom line.”
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Diverting paper from landfills
This year, we began participating in a paper recycling program that guarantees at least 1,500 tonnes of paper from our North American operations will be diverted from landfills each year and used in the production of recycled office paper. We also purchase the recycled paper for use in our operations. TD is the first company to participate in paper manufacturer Boise Inc.’s Closed Loop System on a North American basis.
This year, we began participating in a paper recycling program that guarantees at least 1,500 tonnes of paper from our North American operations will be diverted from landfills each year and used in the production of recycled office paper. We also purchase the recycled paper for use in our operations. TD is the first company to participate in paper manufacturer Boise Inc.’s Closed Loop System on a North American basis.
“We’re continually looking for ways to reduce our environmental footprint, and elimination of waste is key to this,” says Karen Clarke-Whistler, TD’s Chief Environment Officer. “In the past, we’ve shredded large amounts of paper and then sent it for disposal – we needed to find a better solution. The closed-loop recycling system means we’re now buying paper made from paper we’ve already used.”
The closed-loop recycling system will save nearly 43,000 trees – or 300 million sheets of paper – each year in North America.
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Creating a carbon forest on First Nations land
This year, TD, the Munsee-Delaware First Nation and Tree Canada teamed up to bring the very first carbon forest to First Nations land in southwestern Ontario.
This year, TD, the Munsee-Delaware First Nation and Tree Canada teamed up to bring the very first carbon forest to First Nations land in southwestern Ontario. The initiative saw 77,000 fast-growing hybrid poplar trees, developed by the University of Guelph, planted on 48 hectares of abandoned farmland on Munsee-Delaware First Nation land near London, Ontario.
The trees are expected to remove 20,000 tonnes of carbon dioxide from the air. When they reach maturity, at about 30 years, the trees will be harvested for biofuel.
Chief Patrick Waddilove of the Munsee-Delaware First Nation sees other benefits to the carbon forest. It will help create jobs and a sustainable industry for the First Nation, which holds strong environmental values. “We’ve created a new company, called Munsee Tree, and our workforce will be our young people,” says Waddilove. “Forty-two youth are already employed planting the trees, and a green technology certificate program is being developed with Fanshawe College.”
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Auburn, Maine, site of new green call centre
This year brought a new green TD call centre to Auburn, Maine. Designed to achieve LEED (Leadership in Energy and Environmental Design) gold certification, the new call centre features many green elements.
This year brought a new green TD call centre to Auburn, Maine. Designed to achieve LEED (Leadership in Energy and Environmental Design) gold certification, the new call centre features many green elements.
To begin with, it’s easily accessible by public transportation and includes secure parking for bicycles. As well, the grounds have been landscaped with drought-resistant plants, which reduce the amount of water needed to maintain the grounds.
What are the key green elements inside the building? Plumbing fixtures have been designed to reduce water use by 33 per cent. There’s a system in place to recycle all paper, glass, metal, plastic, cardboard, fluorescent light bulbs and batteries used in the centre. Large windows and skylights provide abundant natural light, reducing the amount of energy used for lighting. And the centre is entirely powered from green energy sources.
Says Gerry Guidice, Head of Retail Real Estate in the U.S., “The call centre is one of the many green initiatives that have helped TD become the first North American-based bank – and one of only a handful of banks around the world – to be carbon neutral.”
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EPA gives TD green award
This year, TD Bank, America’s Most Convenient Bank, was recognized by the U.S. Environmental Protection Agency (EPA) as a Green Power Leader. The award recognizes the leading green power purchasers in the U.S. for their commitment to helping advance the development of the voluntary green power market.
This year, TD Bank, America’s Most Convenient Bank, was recognized by the U.S. Environmental Protection Agency (EPA) as a Green Power Leader. The award recognizes the leading green power purchasers in the U.S. for their commitment to helping advance the development of the voluntary green power market.
Not only did TD Bank win a Green Power Leadership Award, but we were one of only four organizations to be chosen as a Green Power Partner of the Year. Currently TD Bank is purchasing more than 240 million kilowatt hours of green power annually, which is enough green power to meet 100 per cent of the organization's purchased electricity use.
Purchasing green power helps our organization become more sustainable, while also sending a message to others that supporting clean sources of electricity is sound business," says Jacquelynn Henke, Real Estate Green Strategy Officer for TD Bank.
Green power is electricity that is generated from renewable resources, such as wind, solar, geothermal, biogas, biomass and low-impact hydro. These resources generate electricity with little increase in carbon dioxide emissions.
Says Gina McCarthy, Assistant Administrator for Air and Radiation at EPA, "By using green power, TD Bank is leading the way toward cleaner air and a healthier environment while helping advance the market for renewable energy."
- PDF downloads
- Management's Discussion and Analysis (1260 KB)
- Consolidated Financial Statements (1300 KB)
- Ten-year Statistical Review (134 KB)
- Principal Subsidiaries (53 KB)
- Glossary (36 KB)
Corporate responsibility
We want to be The Better Bank. Discover how we're building on our commitments to customers, employees, the communities we serve and the environment.
TD's 2010 Corporate Responsibility Report will be available in March 2011.
