Home › Banks ›

Bank

Active

This profile is actively maintained

Last update: 2023-03-03 10:33:58

Active

This profile is actively maintained

Last update: 2023-03-03 10:33:58

About

Website	http://www.td.com
Headquarters	12th Floor, 55 King St. West ON M5K 1A2 Toronto Canada
CEO/chair	Bharat Masrani Group President and Chief Executive Officer
Supervisor	Bank of Canada
Ownership	listed on NYSE & Toronto Stock Exchange TD Bank's shareholder structure can be accessed here.

The Toronto-Dominion Bank is a Canadian multinational banking and financial services corporation, operating as TD Bank Group. The bank was created in 1955 through the merger of the Bank of Toronto and Dominion Bank, which were founded in 1855 and 1869 respectively. TD Bank Group is now the second largest bank in Canada by market capitalization and deposits, and one of the ten largest banks in North America.

Sustainability

Commitments

Policies

Voluntary standards

TD Bank's most important sustainability commitments can be found at the website sections listed below.

Links

TD Ready commitment

ESG policies and references

Modern slavery and human trafficking statement

Bank policy

2022-03-23 00:00:00 | TD Bank

Statement on Anti-Money Laundering, Anti-Terrorist Financing and Sanctions

Bank policy

2022-03-01 00:00:00 | TD Bank

Cautionary statement thermal coal position

Bank policy

2022-02-24 00:00:00 | TD Bank

Code of Conduct and Ethics

Bank policy

2022-01-31 00:00:00 | TD Bank

Statement on human rights

Bank policy

2021-07-09 00:00:00 | TD Bank

Climate action plan

Bank policy

2020-11-09 00:00:00 | TD Bank

Non-Retail Environmental and Social Credit Risk Process

Bank policy

2020-11-03 00:00:00 | TD Bank

Statement on Anti-Corruption

Bank policy

2020-03-31 00:00:00 | TB Bank

Responsible Financing

Page 17 of TD's CSR report 2018

Bank policy

2019-06-24 00:00:00 | TD

Exclusion list

Date listed represents date as accessed on website

Bank policy

2019-03-04 00:00:00 | TD Bank

Environment policy

Bank policy

2019-03-04 00:00:00 | TD Bank

Toronto-Dominion Bank (TD Bank) has committed itself to the following voluntary standards:

Business for Social ResponsibilityTags: corporate social responsibility

Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions

Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development

Global Reporting InitiativeTags: sustainable development | human rights

Net-Zero Banking Alliance (NZBA)Tags: climate change | corporate social responsibility | energy | energy plants

Partnership for Carbon Accounting Financials (PCAF)Tags: carbon | corporate social responsibility

Principles for Responsible Investment (PRI)Tags: corporate social responsibility | sustainable development | United Nations

Principles for Sustainable InsuranceTags: corporate social responsibility | United Nations

Task Force on Climate-related Financial Disclosures (TCFD)Tags: corporate social responsibility | finance

UNEP Finance InitiativeTags: United Nations | sustainable development

Dodgy Deals

Toronto-Dominion Bank (TD Bank) is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Toronto-Dominion Bank (TD Bank)'s link to these deals.

Projects / Companies

Finance type

Year

Campaigns

Banks and Climate

The 2022 Banking on Climate Chaos report showed that Toronto-Dominion Bank provided US$ 140.88 Billion in financing to the fossil fuel industry between 2016 and 2021. Find further details on Toronto-Dominion Bank fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.

Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in the Coal Policy Tracker and Oil and Gas Policy Tool. Find further details on their assessment of Toronto-Dominion Bank fossil fuel policy below.

Banks and Human Rights

BankTrack assessed Toronto-Dominion Bank in its 2022 Global Human Rights Benchmark, where it achieved 4.5 points out of 14 and was ranked as a follower. In addition, Toronto-Dominion Bank scored 0 out of 3 on how it responds to alleged human rights violations linked to its finance, which were raised by civil society organisations. More information is detailed in the "Accountability" section of this profile.

BankLast update

Country

Score

Ranking

Details

Toronto-Dominion Bank (TD Bank)

CAN

4.5

Follower

Explanation

Laggard

Follower

Front runner

Leader

0 - 3 points

3.5 - 6.5 points

7 - 10 points

10.5 - 14 points

For more details see this page.

Banks and Nature

Toronto-Dominion Bank’s policies for forest-risk sectors (beef, soy, palm oil, pulp and paper, rubber and timber) have been assessed by the Forests & Finance coalition, achieving an overall score of 2.8 out of 10 and ranking it as a follower. TD Bank achieved a score of 0.3 out of 10 specifically for its policies related to the beef sector and 3.1 out of 10 for its policies related to the palm oil sector. Between 2016 and 2022, TD Bank provided USD 71 million in credit to companies operating in these forest-risk sectors and held investments amounting to USD 28 million as of 2022. For more information, see the links below.

BankLast update

Country

Score

Ranking

Details

Toronto-Dominion Bank (TD Bank)

2022-09-27

CAN

2.8

Follower

Explanation

A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard

Follower

Front runner

Leader

0 - 1 points

1 - 4 points

4 - 7 points

7 - 10 points

For more details see this page.

BankLast update

Country

Score

Ranking

Details

Toronto-Dominion Bank (TD Bank)

2022-09-29

CAN

0.3

Laggard

Explanation

A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard

Follower

Front runner

Leader

0 - 1 points

1 - 4 points

4 - 7 points

7 - 10 points

For more details see this page.

BankLast update

Country

Score

Ranking

Details

Toronto-Dominion Bank (TD Bank)

2022-09-29

CAN

3.1

Follower

Explanation

A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard

Follower

Front runner

Leader

0 - 1 points

1 - 4 points

4 - 7 points

7 - 10 points

For more details see this page.

Tracking the Net Zero Banking Alliance

Toronto-Dominion Bank is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.

News

BankTrack

Partners

Blog

External

Active

Active

Links

TD Ready commitment

ESG policies and references

Modern slavery and human trafficking statement

Statement on Anti-Money Laundering, Anti-Terrorist Financing and Sanctions

Cautionary statement thermal coal position

Code of Conduct and Ethics

Statement on human rights

Climate action plan

Non-Retail Environmental and Social Credit Risk Process

Statement on Anti-Corruption

Responsible Financing

Exclusion list

Environment policy

Banks and Climate

Banks and Human Rights

Global Human Rights Benchmark 2022

Banks and Nature

Forest & Finance Policy Assessment 2022: Overall scores

Forest & Finance Policy Assessment 2022: Beef

Forest & Finance Policy Assessment 2022: Palm Oil

Tracking the Net Zero Banking Alliance

New report: Canadian bank RBC the #1 financier of fossil fuels, world’s biggest banks continued to pour billions into fossil fuel expansion

Throwing fuel on the fire: GFANZ members provide billions in finance for fossil fuel expansion

Exposed: Western banks funding Qatar’s carbon bombs

New human rights assessment of banks shows slow progress and lack of action to address key gaps on reporting and remedy

Canadian banks having second thoughts about Mark Carney’s green alliance over legal, governance risks

Canadian banks will get kicked out of UN net zero club unless they up their game: Report

Jackdaw shows once again Shell is failing on climate. So why are its bankers failing to act?

Banks have arranged US$2.7 trillion in bonds for fossil fuel companies

Climate groups call on Shell’s bankers to stop Jackdaw gas field

Canadian banks keep financing fossil fuels

Investors ask banks to rethink funding fossil fuel projects, including Line 3

New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021

Largest U.S. banks to face shareholder votes on climate change

Trans Mountain Pipeline: a climate risk no investor should take

Government Announces Next Steps on Trans Mountain Expansion Project

Wet’suwet’en hereditary chief takes fight against Coastal GasLink all the way to the banks

Total’s deal with Suriname: the greenwashing of oil Block 58

How green is your bank? New research says banks still fund fossil fuel projects

Meet the banks funding the owners of the Cambo oil field

Equator Banks involved in financing at least 200 fossil fuel projects since Paris

Canadian fossil-heavy banks join GFANZ

‘Wreckers of the Earth’: 300 London-based companies destroying the planet

As extreme weather rages, RBC extends "sustainability" loan to Enbridge, actively expanding gas and tar sands pipelines

Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit

New bank links to Myanmar junta and atrocities found

Canada is burning, and our banks are fanning the flames

Dear bank CEO, you are cordially invited to defund this pipeline

Revealed: Businesses and banks behind global plastic waste crisis

Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement

Enbridge’s “sustainable” credit: tar sands and rights violations

Demonstrators protest banks’ funding fossil fuels

Bank lending to plastics industry faces scrutiny as pollution concerns mount

Scotiabank becomes fifth major Canadian bank to refuse to fund oil drilling in Arctic refuge

The battle to stop Line 3 is heating up on the ground and across the US

The Big Banks’ Green Bafflegab

Equator Banks fail communities on consultation and grievance mechanisms, new study finds

TD Bank is latest financial institution to pledge net-zero emissions by 2050

Barclays, HSBC and Credit Suisse among worst offenders on oil sands finance

New BankTrack Equator Principles reporting tracking tool launched

Major blow to Keystone XL pipeline as judge revokes key permit

Reckless Keystone XL decision by TC Energy endorsed by JPMorgan Chase, Citi and Canadian peers

Banking on Climate Change – Fossil Fuel Finance Report Card 2020

Canadian banks going green still boost loans to the oil industry

Big businesses face pressure to avoid investing in areas Trump wants to develop

Davos financial players pump US$1.4 trillion into fossil fuels: new Greenpeace report

4 out of 5 banks failing on human rights, new BankTrack Human Rights Benchmark shows

BankTrack 2019 Human Rights Benchmark: criteria and scope announced

Global Banks, Led by JPMorgan Chase, Invested $1.9 Trillion in Fossil Fuels Since Paris Climate Pact

Banking on Climate Change – Fossil Fuel Finance Report Card 2019

Banks massively financing fossil fuels unclear about future of ... fossil fuels

HSBC's shift on energy lending has Suncor throwing its toys out of the pram

TD vows to continue financing resource sector

Report finds major banks ramped up fossil fuel financing to $115 billion in 2017

'Extreme' fossil fuel investments have surged under Donald Trump, report reveals

Bank financing of ‘extreme fossil fuels’ rises 11% to $115bn

Banks warned of tar sands pipelines investment risks in new report