Environmental NGOs say Toronto Dominion bank group is "greenwashing" poor environmental performance

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30 March 2006

New Report Finds Toronto Dominion Bank Greenwashing Poor Performance

Author: ForestEthics & Rainforest Action Network

ForestEthics and Rainforest Action Network today released TD Greenwash: Bankrupting the Future, a corporate irresponsibility report uncovering the poor environmental and social performance of TD Bank Financial Group...TD has set no targets for reducing greenhouse gas emissions for their lending and investments or any investment goals for transitioning to a low-carbon economy... TD financing also supports projects that face deep international stakeholder opposition, such as the proposed Rosia Montana gold mine in Transylvania [project of Gabriel Resources]... [N]ew industry best practices [policies have been] recently adopted by banks including Citigroup, Goldman Sachs, JPMorgan Chase and others.

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1 March 2006

[PDF] Bankrupting the future - The truth behind the greenwash: TD Greenwash - Corporate Irresponsibility Report 2006

Author: Rainforest Action Network & ForestEthics

TD’s [Toronto Dominion's] commercial and investment banking units currently finance companies with deplorable environmental and human rights records in extractive sectors such as forestry, oil and gas, and mining. TD is lagging far behind its peers in adopting comprehensive, well-managed safeguard policies that address biodiversity issues, climate change, and indigenous rights across all bank portfolios... This report takes a look behind TD’s green facade. [also refers to Gabriel Resources; environmental policies adopted by Citigroup, JPMorgan Chase, Goldman Sachs]

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