The Toronto-Dominion (TD) Bank is a multinational company based in Canada that provides financial services. As a business that can provide a significant influence over other companies, it has a duty to protect the environment. TD Bank has several initiatives that aim to achieve that goal. This paper will assess the actions taken by TD Bank in order to reduce its impact on the environment.
TD Bank provides several options for its individual and corporate customers who want to preserve the environment. The bank issues special personal loans, mortgage rates, and discounts for people who drive electric cars or intend to install solar panels on their property (“Green banking,” n.d.). Businesses that primarily use renewable energy are also eligible for special offers, such as credits, asset-based lending, and various loan options(“Green banking,” n.d.). The bank itself is working continuously on ensuring that its operations remain conscious of the environment (“Green banking,” n.d.). The company actively promotes paperless checks and other methods of preservation.
Despite its apparent efforts, there are other options for promoting sustainability that TD Bank can consider adding. For example, it can usher companies to optimize their supply chains by offering them better deals for a smaller carbon imprint per unit of product. Moreover, it can address the amount of plastic garbage produced by the companies that utilize its services and promote more environmentally friendly materials.
In conclusion, the company highly values sustainability in its operations and has implemented several essential methods that positively affect its carbon imprint. TD Bank has already set in place efficient initiatives, yet there is space to improve upon them by addressing other sources of pollution. As a financial services firm, it has the ability to incentivize environmentally conscious behavior through positive reinforcement via better deals.
Reference
Green banking. (n.d.). TD Bank. Web.