TORONTO, Sept. 2 /CNW/ - TD Bank Financial Group (TD) and Habitat for
Humanity today announced a groundbreaking new program whereby TD will support
Habitat for Humanity by investing $750,000 over three years to build energy
efficient housing geared toward low-income families. Initially, the program
will focus on reducing energy use in new homes built by Habitat for Humanity
by upgrading heating systems, insulation and windows. But this is just the
beginning. TD and Habitat for Humanity are also exploring ways to increase the
energy efficiency of Habitat for Humanity homes by making more use of green
building materials and developing community heating solutions.
Through the program, Habitat for Humanity expects that an average 1,000
square foot home will have annual heating and hot water costs of just $350 a
year - compared with about $1,050 for a typical house of that size in Canada.
"This is an exciting, pioneering program and a creative extension of the
support we've received from TD over the years," says Neil Hetherington, Chief
Executive Officer of Habitat for Humanity Toronto. "Not only will our new
homeowners use less energy and reduce greenhouse gas emissions, but their
energy costs will be lowered, enabling them to set aside money for other
necessities such as their children's education."
TD was the first bank in Canada, and one of just a few in the world, to
set a goal for its business operations to become carbon neutral by reducing
its reliance on fossil fuel energy sources.
TD will reach its carbon neutral goal by:
- Using less energy by improving the energy efficiency of its premises
and business operations. For example, a recent lighting retrofit
project at 34 TD Canada Trust branches resulted in annual electricity
savings of 1,223,393 kWh, which is equivalent to the electricity use
of more than 100 homes each year.
- Investing in electricity from clean, renewable energy sources such as
wind and low impact water power. TD's entire Canadian ABM network has
been powered by green energy since 2008, and as of July 2009 all
electricity for TD's operations in BC, Alberta, Saskatchewan, Nova
Scotia and PEI is powered by renewable energy, making TD one of the
largest corporate purchasers of renewable energy in Canada.
- Neutralizing any remaining emissions by investing to eliminate
greenhouse gases outside TD. Today's announcement with Habitat for
Humanity is an example of how TD can create "offsets" by working with
social partners and other non-profits to reduce their emissions
through investments in clean technology and energy retrofit projects.
"We're thrilled to be part of an innovative program to build energy
efficient homes," says Karen Clarke-Whistler, Chief Environment Officer, TD
Bank Financial Group. "This program will put more money in the pockets of
Habitat families, reduce greenhouse gas emissions, and provide a model for
affordable energy-efficient housing in Canada. It's a great example of how we
can all contribute to living in the low carbon economy - it's a win for the
families, the environment, and TD."
About TD Bank Financial Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group is the sixth largest bank in
North America by branches and serves approximately 17 million customers in
four key businesses operating in a number of locations in key financial
centres around the globe: Canadian Personal and Commercial Banking, including
TD Canada Trust and TD Insurance; Wealth Management, including TD Waterhouse
and an investment in TD Ameritrade; U.S. Personal and Commercial Banking
through TD Banknorth and TD Bank, America's Most Convenient Bank; and
Wholesale Banking, including TD Securities. TD Bank Financial Group also ranks
among the world's leading online financial services firms, with more than 5.5
million online customers. TD Bank Financial Group had CDN$545 billion in
assets on July 31, 2009. The Toronto-Dominion Bank trades under the symbol
"TD" on the Toronto and New York Stock Exchanges.
About Habitat for Humanity
Habitat for Humanity is a non-profit, faith-based organization working
for a world where everyone has a safe and decent place to live. Our mission is
to mobilize volunteers and community partners in building affordable housing
and promoting homeownership as a means to breaking the cycle of poverty.
There are 72 affiliate organizations of Habitat for Humanity in Canada.
Habitat for Humanity International spans 93 countries and has to date built
over 300,000 homes, and is now building a new home every 10 minutes.
For further information:
For further information: Matthew Cram, TD Bank Financial Group, (416)
983-1514, email@example.com; Neil Hetherington, Habitat for Humanity
Toronto, (Office) (416) 755-7353 ext. 232, (Cell) (416) 436-4190,