The Toronto-Dominion Bank (TD) announced that it has issued its first ever sustainability bond in a $500 million offering. The three-year bond was issued under the bank’s Sustainable Bonds Framework.
“We believe that economic growth and environmental and social sustainability are intrinsically linked, and that TD has a responsibility to play a positive role in fostering both,” said Barbara Hooper, executive vice president of treasury, corporate development and strategic sourcing for TD Bank. “We’re excited to build on the momentum of our previous green bond offerings and help support long-term sustainability goals.”
TD’s publication of its Sustainable Bond framework expanded the scope of the bank’s previous Green Bond Framework, giving increased prominence to social and governance factors.
According to the revised framework, proceeds from the new offering may be used to finance or refinance loans, investments and internal or external projects considered environmentally or socially responsible, such as green buildings, clean transportation, and access to essential services including healthcare or affordable housing.
“TD takes an integrated approach to environmental, social and governance matters, focusing on both opportunities and risks across its business,” said Andrea Barrack, global head of sustainability and corporate citizenship for TD Bank. “Today’s announcement evidences our commitment to responsibly managing the environmental, social and community aspects of our business.”