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TD’s carbon neutral program has three components: Step 1
Reduce energy use. Step 2 Step 3
Green our energy supply through purchase of renewable energy credits and incorporation of renewable energy generation into our facilities.
Develop innovative, North-American-based carbon offsets with commercial and social partners.
By committing to be carbon neutral, we’ve gathered important insights on energy efficiency, renewable energy and carbon financing and we’ve been able to leverage these insights to many other parts of our business to:
• Green our real estate and information technology portfolio; • Understand risks related to financing of high-carbon-emitting industries;
• Create innovative financial products to support renewable energy development and fuel-efficient vehicles;
• Increase employee awareness; and • Support community energy reduction and educational initiatives.
2012 Results (based on 2011 GHG emission inventory)
We continue to separate our business growth from carbon emissions by reducing our GHG emission intensity.
• Despite a 24% growth in our occupied space, our absolute GHG emissions have increased by less than 1% since 2008.
• Within our Canadian operations, we have achieved a 14% reduction in total GHG emissions since 2008. This reduction can be partially attributed to our energy reduction initiatives.
• Our U.S. GHG emissions have increased since 2008 by 17%, driven by our growth of 43% in occupied space as a result of acquisitions. This increase was less than anticipated because we continued to implement energy-efficient design standards.
Renewable Energy and Carbon Offsets
TD purchases renewable energy certificates (RECs) and carbon offsets to neutralize our GHG emissions. We also contribute to the development of the low-carbon economy in North America. Since 2009, we have invested more than $5 million into projects that create RECs and carbon offsets. TD’s support of these programs has resulted in a cumulative reduction of over 525,000 tonnes of our GHG emissions.
• In 2011 a total of 45% of our carbon emissions were neutralized through RECs, and 55% of emissions were neutralized through carbon offsets.
• TD purchases RECs from renewable energy projects that have achieved EcoLogoTM
or Green-e® Energy certification.
• In 2011 we purchased 314,000,000 kWh of renewable energy credits from across North America, which represents 53% of our electricity consumption.
• 100% of the emissions from the electricity used in our U.S. operations and ATM network are offset with renewable energy credits.
• In Canada 20% of emissions from electricity used in our operations and our entire ATM network was offset with renewable credits. All of our new branches use 100% renewable electricity.
TD is committed to developing innovative carbon offsets from projects located within our North American operating footprint. At least 50% of our carbon offsets are generated through impact investing in projects undertaken with social partners such as schools, institutions and Aboriginal communities. In many cases this “carbon financing” has provided the start-up capital for these innovative social programs.
+ List of REC providers and carbon offsets (PDF)
Be an Environmental Leader
TD 2012 Corporate Responsibility Report
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