TD Bank
Corporate Bias Rating
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Risk Level:
Summary:
In April 2024, West Virginia placed TD Bank on its Restricted Financial Institutions List for its “boycott of energy companies” according to its ESG policies and publicly available statements. TD Bank will not fund oil and gas projects in the Arctic and has frozen funds of personal accounts linked to the truckers' protest in Canada in 2022. TD Bank scored a 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, TD Bank increases the risk of dividing employees, alienating customers and harming shareholders. The company provides a benefits package for employees which covers travel/lodging costs for an abortion and transgender medical procedures for covered employees and dependents, including children. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. TD Bank forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. The company signed an amicus brief in opposition to the 2016 North Carolina bathroom bill HB2 and sponsored a Planned Parenthood event. For these reasons, TD Bank receives a High Risk rating.
Shareholder Proposals
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Date | ESG Category | Proponent | Summary of Resolution | Mgmt Rec | Total Vote % in Favor |
---|---|---|---|---|---|
4/20/23 | Social | Financialization of Housing | Against | 16.90% | |
4/20/23 | Environmental | Financing of the Canadian Oil and Gas Sector | Against | 1.00% | |
4/20/23 | Environmental | Transition Plan Disclosure for Financing Activities | Against | 23.50% | |
4/20/23 | Environmental | TCFD Reporting for Pollution Asset Privatization Transactions | Against | 10.40% | |
4/20/23 | Environmental | Say on Climate | Against | 21.40% |
In the News
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Citigroup , TD Bank , BMO Harris , Fifth Third Bank (5/3 Bank) , Northern Trust , HSBC Holdings