OUR STRATEGY

Environmental, Social, Governance

TD is committed to bringing about positive change by contributing to an inclusive and sustainable future. Our ESG strategy is embedded in our proven business model, guided by our purpose, and inspired by our forward focus.

  • Environmental

    We are supporting better environmental health through a variety of financial products and services, and programs. Our efforts include taking action on climate change and nature loss through a focus on encouraging greenhouse gas reduction and responsible resource use, and ongoing support of nature-based projects. We recognize the intersections between Environmental and Social efforts, and are focused on having our actions support workers, businesses and communities so that the benefits of a green economy are widely shared.

  • In March 2022, TD disclosed Scope 3 interim financed emissions targets for two sectors, Energy and Power Generation. These net-zero targets are Paris-aligned, based on the International Energy Agency’s Net-Zero Emissions by 2050 Scenario, and informed by industry guidance. We will release new interim targets in our 2022 ESG Report to be published in March 2023.

  • TD is well on track to reach our $100 billion target of low-carbon lending, financing, asset management, and other programs by 2030, having contributed more than $86 billion in the past five years.

    TD Securities invested $10 million into the Boreal Wildlands Carbon Project – Canada’s largest-ever single private conservation project – in support of crucial efforts to protect nearly 1,500 square kilometers of boreal forest in Northern Ontario.

  • TD Asset Management introduced two new ESG ETFs to its expanding suite of ESG solutions, designed to help clients invest towards a better tomorrow.  

    TD joined Circular Economy Leadership Canada, which provides thought leadership, technical expertise, and collaborative platforms for accelerating the transition to a low-carbon, circular economy in Canada.

Social

We are contributing to economic inclusion through our business activities, supply chain, philanthropy, and as an employer in our communities. We are working to make financial products and services more accessible and affordable, and creating opportunities for stable employment, income and business ownership.

With the support of Aboriginal Financial Officers Association Canada (AFOA), we launched the TD Scholarship for Indigenous Peoples. This unique program to support postsecondary students from Indigenous communities will provide recipients with both financial assistance and valuable work experience.

  • Provided financial support for a new Black Entrepreneur Loan Program, as part of TD’s $10 million, five-year commitment to the Black Opportunity Fund. The initiative is a lending program for Black entrepreneurs who have been unable to secure funding through traditional channels.

    Launched the TD Home Access Mortgage, an innovative affordable mortgage option designed to increase home ownership opportunities for Black and Hispanic communities in the U.S.

    TD Securities helped the Dream group of companies integrate their corporate ESG values with capital markets financing across transactions for Dream Impact Trust, Dream Office REIT and Dream Residential REIT.

  • Sponsored a certification program for businesses owned by entrepreneurs who are recent refugees to Canada. This program will provide better market access while also reducing financial barriers to registering their businesses. The program is a partnership between TD, the Tent Partnership for Refugees, and the Canadian Aboriginal and Minority Supplier Council.  

    TD donated $1 million to support humanitarian relief efforts in Ukraine and to assist refugees globally. This includes $550,000 to support relief and resettlement efforts in Canada and the U.S. for those impacted, $300,000 to the CanadaUkraine Foundation’s Humanitarian Appeal, and $150,000 to UNHCR Canada, the UN Refugee Agency.

Governance

TD continues to be a leader in corporate governance and our commitment to ESG principles informs our strong risk management culture. 

  • Key areas we are focused on include: risk management, corporate governance and integrity, human rights, data security and privacy.

  • We are also focused on building our enterprise resilience by embedding ESG across our organization, as well as integrating ESG 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

TD is helping to create the conditions that give everyone the chance to succeed in a changing world. Through our corporate citizenship platform, the TD Ready Commitment, TD is targeting $1 billion by 2030 towards community giving in four areas that support change, nurture progress, and contribute to making the world a better, more inclusive place.

  • Financial Security

    We aspire to help people feel more confident about their financial future.

    TD Charitable Foundation in the U.S. awarded US$5.8 million through the 16th annual Housing for Everyone grant program to 33 non-profits to help affordable housing providers deliver critical services.

  • Vibrant Planet

    We aspire to help improve the environment so people and economies can thrive.

    Through the TD Friends of the Environment Foundation in Canada, we are a proud supporter of the work being done by municipalities, charitable organizations, Indigenous communities and schools to revitalize green spaces. So far, more than 490,000 trees and shrubs have been planted through TD Tree Days, contributing to our goal of planting one million trees by 2030.

  • Connected Communities

    We aspire to help increase access to opportunities that people need to participate in and feel included in their community.

    In 2022, TD supported more than 125 events and initiatives as part of the 14th annual Black History Month Series, more than 175 2SLGBTQ+ initiatives including Pride festivals, and more than 60 music and cultural festivals that brought together colleagues, customers and the communities we serve. 

  • Better Health

    We aspire to create more equitable health outcomes for all. 

    TD collaborated with Wellspring, a Canadian charity offering support programs to people with cancer at no charge. We provided digital expertise, as well as a $600,000 donation to build the Virtual Centre for Cancer Support brought to you by TD platform.

Through the TD Ready Commitment and corporate sponsorships, TD supports initiatives across Canada that are led by and for Indigenous communities. This year, we collaborated with our Indigenous Advisory Committee to donate $100,000 to the National Centre for Truth and Reconciliation, as well as $300,000 towards six regional healing centres to support healing for Residential School survivors and for those impacted by the Residential School System.

  • TD Ready Challenge

    TD announced the 15 grant recipients of the 2021 TD Ready Challenge, an annual North American initiative of the TD Ready Commitment that awards $10 million in grants to community organizations dedicated to driving innovative, equitable and scalable solutions for a changing world. In 2021, the TD Ready Challenge focused on seeking solutions to address the pandemic-related learning loss for disproportionately impacted students in grades K-12.

    The 2022 TD Ready Challenge is focused on supporting solutions designed to help people and communities who may be disproportionately affected by climate change prepare for, adapt to, and help mitigate the potential impacts of climate change and/or to work towards a transition to a low-carbon economy.