GHG Emissions  -  March 9, 2022

TD Sets 2030 Interim Goals

TD disclosed its net-zero aligned 2030 interim financed emissions targets for two high-emitting sectors, energy and power generation as part of its 2021 ESG and climate action plan reports. 

The bank plans to achieve net zero GHG emissions by 2050, which was disclosed with the release of the company’s 2021 ESG report. 

"As one of the largest banks in North America, we can play a critical role in helping to create a more inclusive and sustainable future. This is core to our purpose as an organization and while not new to us, as we confront the pressing challenges presented by climate change, the importance of this work is amplified," said Norie Campbell, Group Head and General Counsel, TD, and Chair of the Bank's ESG Senior Executive Forum in a statement. "Our interim Scope 3 targets represent a significant step forward, turning our commitments into action to support the ambitious climate goals we have set."

The energy and power generation sectors were prioritized because they are significant contributors to current global GHG emissions and to the transformation of the global energy supply away from fossil fuels and towards low-carbon solutions. The bank also recognizes that a significant upscaling of renewable energy in these sectors and in downstream sectors, such as industry and transport is necessary for the decarbonization of the broader economy.