ForestEthics and Rainforest Action Network Recognize TD's Leadership
TORONTO, June 4 /CNW/ - Two environmental groups that helped shape
Toronto Dominion (TD) Bank's new environmental policy - Rainforest Action
Network (RAN) and ForestEthics - praised the bank today for being the first in
Canada to adopt a comprehensive policy to guide financing and operations. The
policy sets a precedent for Canada's other major commercial banks to take
stronger action on climate change, Boreal Forests and Aboriginal rights.
"This policy is a real leap forward for TD Bank and a first in the
Canadian banking industry," said Rebecca Tarbotton, RAN's Global Finance
campaign director. "When we brought these issues to TD's attention more than a
year ago, they were a laggard in their sector. This policy signals not only
that they are paying real attention to critical issues like global warming,
but that they are willing to engage us in a meaningful consultation. That
said, the ultimate test is whether we see real change in TD's financing
practices and operations."
TD's policy is the first comprehensive public environmental policy from a
major Canadian bank that specifically recognizes and commits to actions
relating to its operation and financing as they relate to indigenous rights,
biodiversity conservation and climate change. The policy also recognizes the
global significance of Canada's Boreal forest and begins to address the
specific threats and opportunities associated with this national treasure.
"Today's announcement by TD demonstrates financial institutions are
recognizing the importance of the Boreal Forest in Ontario and across Canada
as a shield against global warming," said Lafcadio Cortesi, Boreal Markets and
Solutions Director at ForestEthics. "The Ontario government can harness this
growing green market by protecting habitat for woodland caribou and planning
As part of its policy, TD will measure, report on and improve its own
environmental footprint and work with its clients - including high risk
industries like mining, logging, oil and gas - to assess and improve the
environmental impacts and risks associated with their activities.
For further information:
For further information: Lafcadio Cortesi, ForestEthics, (510) 701-3540;
(RAN), (415) 305-1943