TD Bank targets $100B in low carbon finance

Deepening the banking sector's influence in the clean energy economy, TD Bank Group recently unveiled a new series of initiatives aimed at advancing the global shift to lower carbon future. 

The initiatives include a target of C$100 billion in low-carbon lending, financing, asset management and other programs by 2030.  Toronto-Dominion Bank said in a recent news release that it is "taking clear steps to help accelerate the development of a low-carbon economy," while recognizing the importance of responsibly developing conventional energy, which it said is vital to North America's economic strength and security.

"Our economy is changing and TD intends to fully participate" Bharat Masrani, group president and CEO of TD Bank Group said in a statement. "The initiatives outlined today build on our heritage of environmental and financial leadership to further advance a sustainable and prosperous future, where communities thrive economically and environmentally for both the short and long-term."

TD's low-carbon initiatives to support the $100 billion target include:

• Work with companies, ventures and projects that are driving innovation and contributing to carbon emissions reduction, energy-efficient housing and urban green space enhancement.
• Accelerate the low-carbon economy – including renewable and clean energy technologies, businesses and processes – through TD's low-carbon lending, financing, asset management (in accordance with TD Asset Management's sustainable investing approach) and other programs.
• Foster understanding and dialogue – through research, publishing and conversations – to help society and the economy make a successful transition.
• Enhance focus on successful green bonds strategy, (issuing, underwriting and investing) to support projects that provide both economic growth and environmental benefit.
• Build on a 7-year track record of carbon neutrality to further reduce TD's carbon footprint.

The bank has also focused on lowering emissions in its own operations: TD in 2017 issued its first U.S. green bond and achieved LEED-certified locations in North America.