TD Swears Off Arctic Oil Deals, Sets 2050 Net-Zero Carbon Goal
- CEO sees plan making TD ‘central player’ in carbon transition
- Bank will begin reporting on its progress starting next year
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Toronto-Dominion Bank introduced a global climate action plan that includes rejecting work on oil and gas projects within the Arctic Circle and moving to net-zero carbon dioxide emissions from its operations and financing activities by 2050.
The bank has established a new group to provide advisory services and sustainability-focused financing to help clients with their own ESG efforts, according to a statement released Monday. Amy West, global head of sustainable finance and corporate transitions, is leading the new group, the Toronto-based company said.