ActiveThis profile is actively maintained
ActiveThis profile is actively maintained
12th Floor, 55 King St. West
ON M5K 1A2 Toronto
Group President and Chief Executive Officer
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.
TD Bank's most important sustainability commitments can be found at the website sections listed below.
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.
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.
Global Human Rights Benchmark 2022
Toronto-Dominion Bank (TD Bank)'s human rights policies, processes and reporting were assessed as part of the BankTrack Global Human Rights Benchmark 2022. The bank is assessed as a Follower, with a total score of 4.5 out of 14.
Due dilligence: 1.5/5
The bank was also assessed on its responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations, for which it received an average score of 0/3. See the Response Tracking section of this profile for more details.
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.
Forest & Finance Policy Assessment 2022: Overall scores
The policy assessment covers the main forest-risk commodity sectors (Beef, Palm Oil, Soy, Timber, Pulp and Paper, and Rubber). Weighted scores are based on the scope of TD' relevant policies, taking into account different types of financing and the sectors in which the bank is active. Details about the scores per sector policy can be found on TD'profile
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:
Forest & Finance Policy Assessment 2022: Beef
The policy assessment covers the bank's policies related to beef. Weighted scores are based on the scope of ABN AMRO's relevant policies, taking into account what types and how much finance the bank provides to companies active in the beef industry. Details of the criteria used to assess the policies and scores for other forest-risk commodity sectors can be found on TD' profile
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:
Forest & Finance Policy Assessment 2022: Palm Oil
The policy assessment covers the bank's policies related to palm oil. Weighted scores are based on the scope of ABN AMRO's relevant policies, taking into account what types and how much finance the bank provides to companies active in the palm oil industry. Details of the criteria used to assess the policies and scores for other forest-risk commodity sectors can be found on TD' profile
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:
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.
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
Indigenous Groups Lead Movement to Call on Banks to Drop Enbridge’s Controversial Line 3 Pipeline
Greenpeace Investor Briefing: Problematic Pipelines
TCFD: banks supporting better disclosure are not the ones exiting coal project finance
28 major banks warned not to finance Trans Mountain pipeline expansion
Indigenous leaders launch new campaign to defund all four proposed tar sands pipelines
Energy Transfer: Which banks continue to support the company behind DAPL?
First Nations across North America ask TD Bank to step away from financing of Kinder Morgan Pipeline
Toronto protesters target TD Bank over involvement in Trans Mountain pipeline project
Who's bankrolling TransCanada?
New report finds banks betting on climate change
Katuah EF! Shuts Down TD Bank in Protest Against Keystone XL Pipeline
Equator Principles goes beyond project finance, improves transparency
While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning
Time to Improve the Equator Principles, BankTrack Says
BankTrack to Equator Principles banks; ‘get the Outside Job done’
Financiers search for sustainable future
New rules for Equator Principles, but no new commitments from banks
Equator Principles: Action, not words needed
Civil society groups call for bold steps forward with Equator Principles
Rainforest Action Network study ranks financed emissions of Canadian banks
Background briefing: Just 7% of global banks' energy financing goes to renewables, new data shows
Letter from BankTrack and Mars se Drine to Toronto-Dominion Bank on Rio Tinto Jadar Lithium Mine
Letter from BankTrack, 350.org, Bank on our Future and Uplift to 25 banks on Shell's proposed Jackdaw gas field
Banking on Climate Chaos 2022
Letter from BankTrack to Toronto-Dominion Bank on lithium mining in Serbia’s Jadar Valley
Letter from Toronto-Dominion to BankTrack on response to letter regarding investments in Myanmar
Letter from BankTrack to TD Bank on the bank's progress on its fossil fuel finance since COP24
How banks contribute to human rights violations: responses to the Business & Human Rights Resource Centre
Letter from TD Bank to Business and Human Rights Resource Centre, BankTrack on How banks contribute to human rights violations
Letter from RAN and 13 others to 14 banks that underwrote Kinder Morgan Canada IPO on warning to finance the IPO
TD Bank's whistleblower hotline can be used by individuals and communities to raise complaints regarding human rights issues.
Stakeholders may also raise complaints via the OECD National Contact Points (see OECD Watch guidance).
This page evaluates Toronto-Dominion Bank (TD Bank)'s responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".