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Company Response

TD Bank's response to RAN report

[Full response attached]

At TD, we believe that the responsible development of natural resources must balance environmental, social and economic considerations. Under the ambitious Climate Action Plan that TD launched last November, TD became the first Canadian bank to set a target to achieve net-zero greenhouse gas (GHG) emissions associated with our operations and financing activities by 2050, aligned with the associated principles of the Paris Agreement. As we work towards 2050, TD intends to establish GHG emission baselines across its business and financing portfolio and will work closely with clients as they set interim GHG reduction goals. The Bank will report on its progress starting with 2021...

TD strongly supports the transition to a low-carbon economy and we believe that while this transition is taking place, it is important to support responsible energy development to meet the needs of the economies in which we all live and work and act as a trusted advisor to clients seeking to transition to the low-carbon economy.

As such, TD is committed to engaging in open and constructive dialogue with stakeholders and communities on environmental and social matters. We would like to note that prior to the publication of the "Banking on Climate Chaos" report, TD shared its perspective with one of the organizations affiliated with the report and we are open to continuing this dialogue with them moving forwards...

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