OUR STRATEGY

Sustainability

As a global financial institution, we know we have an important role to play in supporting our customers, colleagues, and communities in a changing world.

TD’s commitment to sustainability is reflected in our approach to managing sustainability topics: a focus on managing sustainability risk and adapting to remain resilient.

  • Environmental

    TD continues to make progress on its Climate Action Plan:

    • Enhanced the methodology, calculation and tools used to monitor Scope 3 financed emissions and targets, and continued to make progress against net-zero goals.
    • Reported a total of $69.5 billion in eligible business activities in 2023 toward our Sustainable and Decarbonization Finance Target.
    • Exceeded our 50% client engagement goal for two initial sectors, energy and power generation, in 2023. Efforts have been led by TD Securities with an extended goal of 75% for 2024.

  • Sustainable Finance

    Sustainable finance is an important way that TD is supporting the transition to a low carbon economy. The Bank has been an active participant in the sustainable capital markets for over a decade, and this year, TD also released an updated Sustainable Financing Framework.

Social

TD is focused on improving access to financial and economic inclusion. Our social framework, TD Pathways to Economic Inclusion, builds on our longstanding work by unifying and focusing our efforts on three areas: financial access, housing access, and employment access.

  • Financial access

    • We are targeting $12 billion in loans and other credit facilities through TD Small Business Banking in Canada from 2023 to 2030, and US$2.8 billion in small business loans to businesses with gross annual revenue ≤US$1 million and/or small businesses located in low and moderate-income geographies in the U.S. from 2024 to 2026 as part of our Community Impact Plan.
    • We established a financial education target with the aim of reaching 500,000 participants through TD led and supported financial education initiatives in Canada and the U.S. The progress made on these targets in 2024 will be shared in our 2024 Sustainability Report.
    • In 2024, TD Securities acted as joint lead manager on a 3-year US$1.5 billion Social Bond for the International Finance Corporation (IFC) – the IFC’s largest social bond to-date, supporting their work on behalf of low-income communities in emerging markets.

  • Housing access

    We set a new target to provide $12 billion in affordable housing financing from 2023 to 2030 to assist in improving supply and refurbishment of affordable housing in Canada and the U.S.

    • TD’s inaugural Housing Summit was held at Howard University in Washington, D.C. The Summit theme, “Key Collaborations – Increasing Access to Affordable Housing”, brought together key TD stakeholders and representatives from more than 60 non-profit housing organizations.
    • We are targeting US$10 billion in home lending to lowand moderate-income and/or minority borrowers and geographies in the U.S. from 2024 to 2026 as part of our Community Impact Plan. The three-year Plan will support community investment, lending, financial education, philanthropy and banking access in diverse and underserved communities across our footprint.
    • Our Indigenous Banking Group offers solutions for Indigenous Peoples, including our First Nations Home Loan program to provide financing to purchase, renovate or build homes on First Nations’ lands.

Employment access

  • We are focused on providing equitable access to training, development, and critical work experience for the long-term success and growth of our colleagues and communities.

    • TD AMCB continued to enhance its mentorship offerings, launching a Veterans’ Mentorship program providing career opportunities and resources with a focus on the specialized needs of military service members.
    • Launched the third year of TD’s Scholarship for Indigenous Peoples in partnership with AFOA Canada.

  • $1.4 million in scholarships were awarded to 20 outstanding Canadian students through the TD Scholarships for Community Leadership. Recipients received up to $70,000 over four years to split between tuition and living expenses, and also gained access to opportunities for paid summer employment, peer networking and mentorship.

  • Building strong communities

    • The New Jersey Performing Arts Center (NJPAC), with the support of TD AMCB and TD Community Development Corporation (TDCDC), broke ground on the US$336 million redevelopment of its 12-acre campus, a project that will transform downtown Newark.
    • TD AMCB and TDCDC provided a US$12 million bond purchase and US$8 million in New Markets Tax Credits to support the development of Inquilinos Boricuas en Acción, La CASA, The Center for Arts, SelfDetermination and Activism, in Boston. La CASA will be the largest Latinx cultural centre in New England.
    • TD Insurance assisted customers impacted by this year’s catastrophic weather events; its Mobile Response Unit provided on-site advice and support in moments of need following the Jasper, Alberta wildfire.

  • Governance

    • TD continues to prioritize 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.

  • Awards and milestones

  • TD Securities was joint lead manager on a new AUD$1.5 billion Green Bond issued by KFW Development Bank, the issuer's largest ever transaction in the Australian market.

    Awarded “Best Specialist ESG Research” for 2024 by ESG Investing Awards, highlighting the outstanding dedication and commitment of TD Cowen’s research to provide action-oriented and investable research to ESG and sustainability funds and institutional investors.

  • Won "Green Bond of the Year - Financial Institution" at Environmental Finance's 2024 Sustainable Debt Awards, recognizing the Bank's 2023 Green Bond issuance.

The TD Ready Commitment

At TD, we understand the role we have as a financial institution in supporting the communities where we live and work. This is where our corporate citizenship platform, the TD Ready Commitment, comes in. We are targeting a total of $1 billion by 2030 in community giving and colleague engagement in four areas that we call the Interconnected Drivers of Change: Financial Security, Vibrant Planet, Connected Communities and Better Health. In 2024, we contributed > $169 million1 towards this target.

Here are two of the initiatives that TD supported this year:

    • In May, Montreal Children’s Hospital Foundation (MCHF)’s Multicultural Clinic received a $500,000 Annual Initiative Grant as part of a 10-year commitment launched in 2020 between TD and Canada’s Children’s Hospitals Foundation (CCHF). The Migrant Teen Navigator Program aims to help improve access to care for refugee and migrant teens.
    • TD awarded US$200,000 in philanthropic support for the International African American Museum (IAAM) in Charleston, SC. Opened in June 2023 and built on the historic site of what was one of the country’s most active slave trading ports, IAAM is dedicated to telling the full story of the African American experience.

  • TD Ready Challenge

    Through the TD Ready Challenge, the Bank awarded ten $1 million grants (in local currency of recipients) to organizations in Canada and the U.S. that are focused on finding innovative solutions to address systemic barriers to affordable housing.

  • TD Charitable Foundation

    TD Charitable Foundation, the giving arm of TD AMCB, awarded a total of US$7 million to 37 non-profits across the bank’s Maine to Florida footprint and in Michigan through the 18th annual Housing for Everyone grant program. Grants ranging from US$150,000 to US$250,000 will help non-profit organizations offer independent living solutions for marginalized community members.

  • Spotlight winner: Raising the Roof | Chez Toit ⁠- Reside

    Reside is an innovative program that renovates vacant and underused properties into long-term affordable homes for people who need them. It extends its social impact by using the renovations to provide supportive training opportunities in the skilled construction trades for people facing systemic barriers to employment and who are homeless or at risk of becoming homeless.

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