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Tell TD Bank to Stop Funding Boreal Destruction
We are asking TD Bank to join other leaders in the banking industry like Citigroup, Bank of America, JP Morgan Chase and Goldman Sachs, and adopt forward looking biodiversity and climate protection policies. TD Bank needs to modernize its safeguard policies and apply them to all its financing for energy, forestry, mining and other resource extraction sectors, in order to protect - not destroy - endangered Boreal Forest hotspots and slow climate change. Tell TD Bank CEO Ed Clark to get on the ball and stop funding the destruction of Canada's Boreal heritage.
Dear [ Decision Maker ] , I am writing to urge Toronto-Dominion Bank to stop funding forest destruction and climate disruption. TD Bank should instead adopt new environmental and social safeguard policies that cover all your financing and protect Endangered Forests, curb investments that are fueling climate change and protect the rights of First Nation indigenous peoples. The business of banking directly affects our environment. While your competitors are taking active steps to protect endangered ecosystems and curb climate destabilization, Toronto-Dominion Bank continues to provide financing to notorious old-growth liquidators, which are clear-cutting endangered forests in the Boreal, and to dirty oil companies, which are derailing achievement of Canada's Kyoto Protocol climate committments. It's time for Toronto-Dominion Bank to join Citigroup, Bank of America, JP Morgan Chase, and Goldman Sachs and apply comprehensive environmental and social safeguards to all of its operations, financing and investments. Help TD Bank chart a new course towards financing a sustainable future. Please let me know how you intend to deal with these urgent issues.
Sincerely, |
Campaign Launched: |
| Background Information |
With total assets of more than $350 billion (Cdn), TD Bank is Canada's third largest bank and a major player in the corporate financing market in Canada. Through TD Banks financing to corporate loggers, mining and oil companies, TD Bank has a significant multi-billion dollar footprint in Canada's Boreal Forest.
TD Bank has no comprehensive biodiversity safeguard policies for the resource extraction or energy sectors that can ensure that it's investments and financing are not contributing to the destruction of Endangered Forests in Canada, or elsewhere around the world. And despite the fact that Canada's Boreal Forest is among the most at risk ecosystems from climate change, TD Bank continues to blindly put its money in massive climate-disruptive dirty energy investments.
The Boreal Forest is one of North America's greatest conservation opportunities, but it will be lost forever unless reckless industrial development is brought under control, quickly, and sustainable alternatives funded in their place. The finance sector has a critical role to play, as stewards of the economy and key decision makers over what specific companies, projects, practices and technologies do or do not get bank finance.
That's why clear climate and biodiversity safeguard policies are essential and increasingly being adopted by leading banks in North America. TD Bank, meanwhile, has failed to act and is falling ever further behind its peers. If you are a customer of TD Bank in Canada or TD Banknorth in the US your voice is particularly important.
Tell CEO Ed Clark to get moving on biodiversity and climate protection or risk losing your business.
