Activist Group challenges TD Bank to keep up with banking sector’s shift from fossil fuels

April 01, 2020

The consumer advocacy group SumOfUs’s shareholder resolution calls on TD to commit to reducing GHG emissions in lending and underwriting portfolios

TORONTO — Ahead of TD’s annual general meeting of shareholders on April 2, 2020, the international consumer group SumOfUs has submitted a shareholder proposal on behalf of five independent shareholders. It calls on TD Bank to reduce greenhouse gas (GHG) emissions in its lending and underwriting activities. 


Amelia Meister, Senior Campaigner at SumOfUs said: 

“As BlackRock, Barclays, Lloyds and RBS make greater commitments to getting out of fossil fuels, TD risks being left behind in the rush of banks cleaning up their financing strategy.  The smart money is no longer high carbon and TD’s shareholders know this. This common sense proposal asks TD to do the bare minimum to address the climate crisis. In a time of instability in the Canadian oil industry, TD can protect the Earth and shareholder value at the same time.”

TD is the second largest financier of fossil fuels in Canada.