TD Bank has launched a new sustainable and decarbonisation finance target of $500bn by 2030 for its customers, clients and the communities it serves.
According to TD, the bank aims to mobilise this funding through financial activities including lending, financing, underwriting, insurance, advisory services and the bank’s own investments.
This new target represents the next step in the Bank’s efforts to help support its customers and clients in the transition to a low-carbon economy and help contribute to improving social outcomes.
The eligible environmental, decarbonization and social activities are focused on supporting progress toward key sustainability objectives of TD such as climate change mitigation and adaptation and economic inclusion.
As part of the announcement, TD also published a Sustainable & Decarbonization Finance Target Methodology which outlines the Bank’s approach to categorizing, assessing, and reporting on progress towards its new target, including:
The environmental, decarbonization and social activities eligible to be counted toward the target, including mapping to the United Nations Sustainable Development Goals a governance process to help support its work to quantify, validate, monitor, and report progress toward the target.
TD intends to annually report, on a cumulative basis, about its progress toward the Sustainable & Decarbonization Finance Target in one or more future ESG-related reports.
TD SVP of sustainability and corporate citizenship Janice Farrell Jones said, “Mobilizing sustainable finance is a valuable business opportunity as well as a critical part of our work towards our target of achieving net-zero greenhouse gas (GHG) emissions associated with our operations and financing activities by 2050.
“Our new Sustainable & Decarbonization Finance Target is an exciting next step forward that builds on the progress we’ve been making for over a decade to help drive positive and measurable impacts on society and our environment, and to help contribute to a more inclusive and sustainable future.”
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