TD Bank Normalized Emissions Increase 7.5%
In 2010, the bank produced 2.92 metric tons of carbon dioxide equivalent per employee. In 2011, the latest year that the report covers for this metric, this figure jumped to 3.14 mtCO2e per employee.
In 2011, TD announced a goal to reduce its greenhouse gas emissions by one metric ton per employee by 2015, relative to 2008 levels. This represents a 28 percent reduction in carbon per person. To date the bank has achieved a 12 percent reduction relative to 2008.
Most of the reduction will come from embedding energy efficiency into the design, construction and operation of its facilities, TD says. Additional savings will be developed through greening IT systems, reducing business travel and promoting energy-saving behaviour among employees, TD says.
The company’s absolute emissions rose just shy of 13 percent year-on-year, from 234,742 mtCO2e in 2010 to 265,192 mtCO2 in 2011. The 2011 emissions figure is marginally higher than the bank’s figure from 2008.
In 2010, TD Bank became the first North-American-based bank to become carbon neutral. TD’s carbon-neutral commitment applies to all of its wholly-owned North American and international operations. The company’s greenhouse gas emission inventory is measured in accordance with the Greenhouse Gas Protocol, and its emissions are independently assured by Ernst & Young LLP.
TD purchases renewable energy certificates and carbon offsets to neutralize its greenhouse gas emissions. It also says it contributes to the development of the low-carbon economy in North America. Since 2009, the bank has invested more than $5 million into projects that create RECs and carbon offsets. TD’s support of these programs has resulted in a cumulative reduction of over 525,000 metric tons of greenhouse gas emissions, the report says.
In 2011, a total of 45 percent of TD’s carbon emissions were neutralized through RECs, and 55 percent of its emissions were neutralized through carbon offsets. That year it bought 314 million kWh of renewable energy credits, which represents 53 percent of the bank’s electricity consumption.
The company’s overall electricity use increased year-on-year but the report does not give exact figures for this consumption.
Since 2009, TD has invested more than $34 million in green building design and technology. During the process, the company says that it has learned a great deal about energy efficiency and renewables, all of which the bank has incorporated into its Green Building Standards, which it began implementing across its entire building portfolio in 2012.
In August 2010, TD opened a call center in Auburn, Maine, powered entirely by renewable energy. Other green elements at the call center include plumbing fixtures that use 33 percent less water, and drought tolerant plants and shrubs that don’t require an in-ground irrigation system.
In 2011, TD Bank opened its first net-zero branch. The company now boast two net-zero locations.
At the end of 2012, TD had completed 71 LEED-certified building projects totaling over 750,000 sq ft. Some 83 percent of the bank’s LEED projects are certified at Gold or Platinum level.
Company-wide recycling programs for paper-based waste and electronic waste have been in place since 2008. TD says that it has been challenging to implement waste policies due to the patchwork of state and provincial programs, the bank’s acquisition of many new facilities and a variety of landlord and tenant arrangements.
The bank currently recycles 56 percent of its combined paper and non-paper waste at about 87 percent of its facilities. In 2013, TD says it will continue efforts to mitigate landlord and municipal constraints in order to expand its recycling program.
In 2011, TD announced a goal of being “paper-neutral” by the end of 2012. At the time TD said that its approach to the paper neutrality goal is two-pronged: first, TD aims to cut its paper use by 20 percent by 2015. Second, it planned to introduce a forest conservation program to offset the paper it does use.
According to the report, the bank made progress against the 2015 goal. The report also says that the company launched its TD Forests program, focused on reducing paper at TD and growing the area of protected forested habitat across North America. However, there is no mention in the environmental goals section of the report of the bank’s “paper-neutral” goal.
In 2010, TD purchased 14,275 metric tons of paper. In 2012, the bank achieved a 4 percent reduction on this metric. Despite what it calls this “low result,” TD says it is confident that the 20 percent reduction by 2015 is still a goal that it can meet, but it will require systemic changes across the business.
TD says that it has kept to its policy of keeping 100 percent of e-waste out of landfills. In 2012, 95 percent of its e-waste was refurbished and 5 percent was broken down for recycling.
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