Innovative approach to recycling diverts 1,500 metric tonnes of paper
from landfill per year; equivalent to more than 300 million sheets of
TORONTO, Aug. 11 /CNW/ - TD Bank Financial Group (TD) today announced
its participation in paper manufacturer Boise Inc.'s Closed Loop
System™, a paper recycling program that guarantees at least 1,500 metric
tonnes of paper from TD's operations in Canada and the U.S. is diverted
from landfills and used in the production of recycled office paper. TD
then purchases the recycled paper for use in its operations - hence the
closed loop system. TD is the first Canadian company to participate in a
closed loop recycling system and the first to have one that is North
"We are continually looking for ways to reduce our environmental
footprint and elimination of waste is key to this," says Karen
Clarke-Whistler, Chief Environment Officer, TD. "Every year, we
purchase, use and then shred large amounts of paper - we needed to find
a better solution. The closed loop system means we are now buying paper
made from paper we've already used."
Each year, TD purchases approximately 3,500 metric tonnes of Forest
Stewardship Council certified office paper for its North American
operations. Approximately 1,050 metric tonnes of recycled material is
required to manufacture the 3,500 metric tonnes of paper used by TD -
the bank delivers to its partners 1,500 metric tonnes to ensure adequate
"TD's participation in the closed loop system is both a win for their
business and for the environment," says Marty L. Parker, Customer
Focus/Governmental Affairs Manager, Boise Inc. "The system has a direct
and quantifiable impact on the environment by interrupting the solid
waste stream and diverting waste from landfills."
How TD's closed loop recycling system works
Participants in the program include TD, Iron Mountain, Recycle
America/Waste Management and Boise. Each organization represents one
stage of the closed loop system, which is based on volume credits to
minimize environmental impact.
Using the paper: As the consumer, TD purchases and uses paper.
Protecting the information: The used paper goes through a
confidential shred by Iron Mountain.
Transport: The shredded paper is transported by a waste broker
(Recycle America/Waste Management) to a manufacturer of recycled
content pulp, like Boise.
A second life: The pulp is used in the manufacturing process
and turned back into paper by Boise, a paper manufacturer.
Closing the loop: TD buys all of its paper from Grand and Toy,
one of Boise's largest Canadian distributers.
TD's closed loop recycling system will save nearly 43,000 trees each year1
- the equivalent of 300 million sheets of paper.
The closed loop recycling program is part of TD's goal to manage and
perform its daily operations in a manner that reduces its environmental
impact. Earlier this year TD became the first North American-based bank
to ensure its global operations are carbon neutral. From facilities
management to purchasing renewable energy, to waste diversion and
recycling to green procurement, TD is constantly striving to manage its
resources in a way that promotes the long-term sustainability of the
environment. For more information, please visit http://www.td.com/corporateresponsibility/environment/index.jsp.
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 more than 18 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, including 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 6 million online customers. TD Bank Financial Group had
CDN$574 billion in assets on April 30, 2010. The Toronto-Dominion Bank
trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
1 Environmental impact estimates were made using the
Environmental Defense Fund Paper Calculator. For more information visit http://www.edf.org/papercalculator/.
SOURCE TD Bank Group
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