Customers Toward a Low-Carbon Economy
GHG Emission Reduction
Headline Performance
Despite 23% growth in our occupied space, TD’s total GHG emissions from energy decreased by 11% since 2008.
Greenhouse Gas Emissions
2013 Performance: • Canada: GHG emissions reduction of 9%.
• U.S.: GHG emissions increase of 7% due to the purchase of properties that needed energy retrofits and are located in parts of the country where electricity is supplied through coal-fired generation.
• 10,845 tonnes of CO2 e saved from our
energy-efficiency and video-conferencing initiatives in 2013, down 4% relative to 2012 levels.
TD supports the growth of North American renewable power generation projects through our purchase of renewable energy credits (RECs). Since 2010, we have invested more than $3.6 million into renewable energy projects that create 1.3 million MWh of RECs and lower the carbon content of North America’s energy supply grid.
TD purchases high-quality RECs from renewable-energy projects that have achieved EcoLogo™
or Green-e® Energy
certification. These RECs represent renewable power generation added to the electricity grid within the last three years.
GHG Emissions per dollar of revenue have decreased by 49% since 2008.
24,162 tonnes of CO2
in absolute reductions from initiatives since 2008 – 9% relative to our baseline.
Renewable Energy Credits and Carbon Offsets 2013 Performance:
• RECs were used to offset 54% of our electricity use which translates to 73% of our emissions from electricity.
• Over $6.4 million spent on North American carbon offsets projects amounting to 575,000 tonnes of CO2
e since 2010.
• At least 50% of TD’s carbon offsets are generated through impact investing projects, such as the case study on page 56. »
+ TD Renewable Energy Credits and Carbon Offsets Map
TD’s Internal Price on Carbon
We achieved carbon neutrality by reducing our energy use, greening our energy supply and developing innovative carbon offsets. We measure our “cost of carbon” based on the costs of our carbon commitment, measured through the purchase of renew- able energy credits (RECs) and carbon offsets. These costs are calculated on an annual basis and are charged back to our businesses based on their relative contribution, representing an internal price of carbon of approximately $10 per tonne of CO2
e.
Calculating carbon benefits is a relatively new activity for TD because we wanted to quantify what segment of our business revenues and financing activities are related to low-carbon. In 2014 we will continue to identify additional revenues that contribute to the low-carbon economy.
» TD’s Approach to Internal Carbon Pricing
+ Carbon Neutral Schedule (PDF) TD 2013 Corporate Responsibility Report e
Workplace
Environment
Communities
How We Operate
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