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HOW WE OPERATE RESPONSIBLE BANKING WORKPLACE ENVIRONMENT COMMUNITY GOVERNANCE


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Climate Change WHY IT’S MATERIAL TO TD


Climate change is a global issue that touches every part of our business. Our customers, employees and community stakeholders want to understand how we are managing the risks and what steps we are taking to enable the transition to a low-carbon economy.


Management Approach


Our climate change position and strategy TD is committed to understanding the impacts of climate change. Since 2009 we have taken a comprehensive, long-term approach by setting goals and targets, embedding considerations of climate-change-related issues and opportunities throughout our entire business and being transparent about our actions, positions and performance.


Our overall approach is summarized here, and the specific steps we’re taking are discussed throughout the section. Our strategy addresses both key elements of climate change:


1. Mitigation: Reducing greenhouse gas (GHG) emissions We apply a continuous improvement approach to reducing our direct and indirect GHG emissions. Through our finance and investing businesses we work with our clients to support the transition toward a low-carbon economy. We collaborate with a large and diverse group of environmental stakeholders to promote solutions-based dialogue and action.


2. Adaptation: Increasing resilience to a changing climate We are actively studying the impacts of climate change on the “built” (i.e., man-made) environment and infrastructure and adapting our businesses. TD Insurance is on the front line of this effort. With the increase in frequency and intensity of severe weather events, we are adapting our policies, processes, products and even the way we interact with employees and customers to help address the risk and build resilience.


Go Deeper


2015 List of Stakeholder Groups and Discussion Topics


Page 33 + 2015 Performance


Mitigation In 2015, we continued to demonstrate leadership in the management and reporting of carbon emissions by:


• Reducing our carbon footprint and applying an internal price of carbon of $9 per tonne of CO2


• Lending and investing in low-carbon companies and projects and providing low-carbon products to our customers


• Providing thought leadership to advance policy and action • Engaging our employees and communities in actions to reduce carbon emissions


As a result of our efforts, TD has received global and North American recognition for climate leadership.


Tackling Climate Change: TD’s Approach


Mitigation Reducing GHG emissions · Green buildings


· Generating renewable energy through on-site solar panels


· Purchasing RECs and carbon offsets · Energy Efficiency initiatives · Sustainable transportation


Adaptation


Increasing resilience · Enhancing risk management · Innovation in our insurance business · Building and infrastructure retrofits


· Supporting community resilience projects, green infrastructure and enhancement of natural capital


e based on the costs to purchase carbon offsets and renewable energy credits (RECs) as well as the cost of managing TD’s GHG inventory


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