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Created before Nov 2016
Last update: 2016-08-08 09:58:23
Karen Vermeer, BankTrack
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The Toronto-Dominion Bank (in French, Banque Toronto-Dominion, and commonly TD in either language) is a 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 largests banks in the United States.
12th Floor, 55 King St. West
ON M5K 1A2 Toronto
Bharat Masrani |
Group President and Chief Executive Officer
|Annual report||2015 Corporate Responsibility Report|
listed on NYSE Euronext & Toronto Stock Exchange
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Voluntary initiativesToronto-Dominion Bank - TD has committed itself to the following voluntary standards:
- Activities within World Heritage sites.
- Activities that would result in the degradation of protected critical natural habitats as designated by the World Conservation Union classification and International Financial Corporation standards.
- Activities that would involve the purchase of timber from illegal logging operations.
- Mountain top removal coal mining.
- Production or trade in any product or activity deemed illegal under host country laws or regulations (including those ratified under international conventions and agreements).
- Production or trade in wildlife or products regulated under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
- Deals that directly relate to the trade in or manufacturing of material for nuclear, chemical or biological weapons or for land mines or cluster bombs.
- TD does not lend money for transactions that are directly related to the mining of "conflict" minerals.
Toronto-Dominion Bank - TD and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. Toronto-Dominion Bank - TD adopted the Equator Principles in 2007.
Reporting on the Equator Principles
Toronto-Dominion Bank - TD reports annually on their implementation of the Equator Principles. The 2016 report can be found here.
Toronto-Dominion Bank - TD further reports on its portfolio of projects financed under the Equator Principles on the Equator Principles website, here.
Toronto-Dominion Bank - TD is involved in financing the following Equator Principles projects that BankTrack considers controversial.
True leader Front runner Follower Laggard
BankTrack has assessed Toronto-Dominion Bank - TD on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. Toronto-Dominion Bank - TD is assessed as a Laggard, with a total score of 0.5/12.
Implementation and reporting
Toronto-Dominion Bank - TD is reporting on the implementation here.