TD Asset Management Inc. joins more than 2,000 organizations around the world to publicly support TCFD recommendations
TORONTO, June 23, 2021 / CNW / – On June 1st 2021, GPTD declared its1 supporting the Climate-Related Financial Disclosures (TCFD) Task Force, joining over 2,000 organizations, including TD Bank Group (TD), to demonstrate their commitment to building a more resilient financial system and guarding against risk climate through better disclosures.
The TCFD, chaired by Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies, provides market participants with recommendations for dealing with the financial impact of climate change on their businesses. By increasing transparency on financially important climate-related risks and opportunities, the recommendations promote more informed financial decision-making by investors, lenders and others.
Supporters of TCFD span both the public and private sectors and include national governments, central banks, stock exchanges, credit rating agencies, financial organizations, and private sector companies from various sectors.
“TCFD provides a useful framework for businesses and investors to understand and mitigate the physical and transitional risks associated with climate change. At GPTD, we are committed to investing in a sustainable manner and climate change is an essential part of that commitment. “- Bruce cooper, CEO, TD Asset Management
Widespread implementation of the TCFD recommendations will provide investors, lenders and insurers with consistent and relevant information to understand the economic risks and opportunities resulting from climate change. Increased disclosures consistent with the recommendations in all sectors and geographies will help global markets make more efficient capital allocation decisions and adapt appropriately to the disruptive effects of global climate change.
The implementation of TCFD recommendations offers companies:
- Easier or better access to capital by increasing investor and lender confidence that climate-related risks are assessed and managed appropriately,
- Better ability to meet existing disclosure requirements by declaring important information in financial documents,
- Increased awareness and understanding of climate-related risks and opportunities, resulting in better risk management and more informed strategic planning, and
- The ability to proactively respond to investor climate-related information demand in a framework that investors increasingly demand.
For more information on the Task Force on Climate-related Financial Disclosures, please visit www.fsb-tcfd.org.
Creating access to sustainable investment solutions for investors is also a priority for GPTD. GPTD recently launched two new ESG-focused mutual funds that offer unique and differentiated solutions to help investors achieve their financial goals.
objectives while aligning their investments with their values to have a positive impact. GPTD recently strengthened its commitment to sustainable investing by developing GPTD’s sustainable investing approach and as an institutional investor signing the Responsible Investment Association’s Investor Statement on Diversity and Inclusion.
TD has supported TCFD since 2018 and has published information on how TD has integrated the assessment and disclosure of climate-related risks and opportunities into its governance, processes and reporting. TD is on the verge of adopting the TCFD requirements and intends to continue to develop its expertise in the management of climate risks and opportunities. TD also recently became the first Canadian bank to target zero net GHG emissions associated with its operations and financing activities by 2050, and contributed more than $ 56 billion towards our low emissions economy goal. management and internal programs of the company over the past four years.
These initiatives underscore TD’s continued efforts to deliver sustainable products, services and programs to its customers and clients and its commitment to contribute to a more inclusive society.
1 GPTD has incorporated the TCFD guidelines into its investment management and engagement activities since 2018. Given the persistent lack of disclosure among companies on climate risks, GPTD considers formal support a necessary next step and will publish its own TCFD report in the coming years to demonstrate its commitment.
About TD Asset Management
TD Asset Management Inc. (TDAM), a member of TD Bank Group, is a North American investment management firm. Operating through TD Asset Management Inc. in Canada and GPTD United States Inc. in the United States, GPTD brings fresh thinking to the most important challenges for investors. GPTD offers investment solutions to businesses, pension funds, endowments, foundations and individual investors. Additionally, TDAM manages assets on behalf of nearly 2 million retail investors and offers a broadly diverse range of investment solutions, including mutual funds, professionally managed portfolios and corporate class funds. . TD Asset Management Firms Manage $ 412 billion active at March 31, 2021. Assets under management include TD Asset Management Inc., TDAM United States Inc. and Epoch Investment Partners Inc. All entities are wholly owned subsidiaries of The Toronto-Dominion Bank.
About the Task Force on Climate-related Financial Disclosures
At December 4, 2015, the Financial Stability Board (FSB) established the industry-led Climate-Related Financial Disclosures (TCFD) Working Group with Michael R. Bloomberg as president. The working group currently has four vice-chairs and a total of 31 members. The TCFD was urged to develop voluntary and consistent climate-related financial disclosures for companies to provide information to lenders, insurers, investors and other stakeholders, which were published in the TCFD recommendations report on June 29, 2017. You can find more information about the TCFD at www.fsb-tcfd.org.
SOURCE TD Asset Management Inc.
For further information: Media Contacts, Derek Kirk, TD Bank Group, [email protected]; Liidia Liuksila, Bloomberg LP, +1 (212) 617-5424, [email protected]; Catherine Hicks, Brunswick Group, +1 (917) 215-5751, [email protected]