OUR STRATEGY

Sustainability

We maintain a long-standing commitment to environmental and social progress. It’s core to who we are. Guided by our purpose, we strive to make a positive impact in the lives of our customers and colleagues, and in our communities and the broader economies that rely on us.

  • Environmental

    TD achieved our $100 billion low carbon target ahead of our 2030 deadline and introduced a new Sustainable & Decarbonization Finance Target. Representing the next step in our effort to advance the low carbon economy and contribute to improving social outcomes, TD plans to mobilize $500 billion by 2030 through lending, financing, underwriting, advisory services, insurance and the Bank’s own investments.

    TD published a Sustainable & Decarbonization Finance Target Methodology document that outlines the Bank’s approach to categorizing, assessing, and reporting on progress toward this new target.

    We continued to make progress against our Climate Action Plan and expanded our Scope 3 financed emissions footprint reporting to include seven carbonintensive sectors and four Partnership for Carbon Accounting Financials asset classes. We also published an additional set of interim 2030 Scope 3 financed emissions targets for the Automotive Manufacturing and Aviation sectors and provided updates on our previously announced targets for Energy and Power Generation.

    TD Securities agreed to purchase 27,500 metric tons of Direct Air Capture (DAC) carbon dioxide removal credits over a four-year period from STRATOS, 1PointFive’s first DAC plant currently under construction in Texas, subject to STRATOS becoming operational.

    TD Insurance initiated a national education campaign to help increase homeowners’ resilience to basement flooding and invested in the Institute for Catastrophic Loss Reduction’s Showcase Homes program to retrofit homes in Edmonton.

    TD Asset Management expanded its sustainability suite with the launch of the TD North American Sustainability Bond Fund, its first actively managed ESG-related fixed income product.

  • A leader in sustainability

    TD was ranked among the top sustainability companies in the Dow Jones Sustainability Index for the ninth consecutive year – the only North American bank currently included in the World Index.

    TD was named North America’s Best Bank for Corporate Responsibility by Euromoney for its demonstrated commitment to managing the environmental impact of operations, promoting workforce development and social mobility, and fostering diversity and inclusion.

Social

Building on our efforts to improve financial and economic inclusion for our customers, communities and colleagues, TD took another step in our journey, announcing TD Pathways to Economic Inclusion. This new social framework unifies and focuses our efforts in three areas where the Bank seeks to contribute to inclusive financial and economic outcomes: employment access, financial access and housing access.

  • Employment access

    Together with AFOA Canada, TD announced the first 25 recipients of the TD Scholarship for Indigenous Peoples.

    TD collaborated with the Executive Women’s Forum to help advance careers and create a better workplace for women in information security, information technology, risk management, and privacy.

    TD AMCB worked with The Honor Foundation to provide career support to United States Navy SEALs transitioning into civilian roles.

  • Financial access

    Launched the Black Entrepreneur Credit Access Program in Canada to provide more equitable access to credit, wealth management, and specialized advice through a regionally based Black Customer Experience team.

    Launched Offsite Account Opening in Canada to offer customers greater flexibility when they open their account.

  • Housing access

    TD AMCB announced a three-year, US$2 billion voluntary Community Reinvestment Act Agreement in coordination with the New Jersey Citizen Action and the Housing & Community Development Network of New Jersey. The agreement includes commitments for investments in affordable housing, affordable mortgage lending, small business lending and other community development projects that will have a significant economic impact on low- and moderate-income communities and majority-minority communities throughout New Jersey.

    Announced support for key housing and home ownership initiatives in Philadelphia, including a US$2.5 million financial commitment to Local Initiatives Support Corporation’s Non-profit Preservation Initiative and CONVERGENCE Philadelphia, a program with the Mortgage Bankers Association.

Governance

  • TD continues to have strong corporate governance practices and our commitment to sustainability informs our strong risk management culture.

    Key areas of focus include: risk management, corporate governance and integrity, human rights, data security and privacy.

  • We are also focused on building our enterprise resilience by embedding sustainability across our organization, integrating these considerations into our business strategy, risk management and decision-making. These dedicated ESG roles are coordinated through our ESG Centre of Expertise and Target Operating Model.

The TD Ready Commitment

At TD, we know that we can only thrive when the communities around us thrive, and that building a more sustainable and inclusive future is critical for our communities and our Bank. In 2023, we contributed more than $157 million1 to communities, in part through the TD Ready Commitment, which is a true embodiment of TD’s purpose in action. Our TD Ready Commitment is targeting a total of $1 billion by 2030 in community giving and colleague engagement in four areas: Financial Security, Vibrant Planet, Connected Communities and Better Health.

TD pledged $5 million over five years to the Future Generations Foundation’s Beyond Reconciliation Campaign to deliver programs focused on culture, language, the restoration of land-based traditional knowledge, healing, reconciliation, education and employment to Indigenous Peoples, businesses, organizations and communities.

  • TD Ready Challenge

    The TD Ready Challenge is our annual North American initiative offering ten $1 million grants to non-profit and community organizations that are developing innovative, impactful and measurable solutions for a changing world. In its sixth year, the 2023 TD Ready Challenge is seeking innovative solutions to help address systemic barriers to affordable housing across the continuum from transitional to permanent homes, and to help increase access to affordable and stable housing for those that need it most.

  • TD Charitable Foundation

    TD Charitable Foundation, the charitable giving arm of TD AMCB, announced its first-ever Mission Related Investment of US$5 million to Innovate Capital Growth Fund (ICGF). ICGF is a new non-profit sponsored small business investment company that provides growth equity to minority and women-owned businesses with a focus on the Greater Philadelphia area. 

1 Figures include any donation commitments recognized as a legal obligation or a constructive obligation and expensed in 2023 before they were paid out. Figure does not include donations made through TD Friends of the Environment Foundation.