TD Bank

New Jersey
Banks

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

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 out of 100 on the 2023-2024 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. TD Bank supports the Equality Act, a controversial bill. The bank is a member of PCAF, committed to carbon neutrality by 2050. TD Bank signed an amicus brief in opposition to the 2016 North Carolina bathroom bill HB2, which required people to use the bathroom of their biological sex. The bank’s CEO, Leo Salom, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace. TD Bank has also donated to the Equality PAC. For these reasons, TD Bank receives a High Risk rating.

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Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
4/18/24EnvironmentalInvestNowReport on Impact of Oil and Gas DivestmentAgainst1.20%
4/18/24GovernanceJacques PaquetAnnex to Annual Report on All Out-of-Court SettlementsAgainst0.76%
4/18/24SocialJacques PaquetCommittee of 5 Persons to Consider All Out-of-Court SettlementsAgainst0.53%
4/18/24GovernanceJosée Des CroissellesProviding All Employees with the Same Amount of Social BenefitsAgainst0.75%
4/18/24SocialVancity Investment ManagementCEO to Median Employee Pay RatioAgainst12.56%
4/18/24EnvironmentalVancity Investment ManagementDisclose Transition ActivitiesAgainst28.60%
4/18/24GovernanceMouvement d’éducation et de défense des actionnaires (MÉDAC)Incentive Compensation for All Employees against ESG ObjectivesAgainst1.98%
4/18/24GovernanceMouvement d’éducation et de défense des actionnaires (MÉDAC)Public Disclosure of Non-Confidential Information, Country-by-Country Reporting, Compensation Ratios and Tax HavensAgainst11.54%
4/18/24EnvironmentalMouvement d’éducation et de défense des actionnaires (MÉDAC)Advisory Vote on Environmental PoliciesAgainst17.86%
4/20/23SocialFinancialization of HousingAgainst16.90%
4/20/23EnvironmentalFinancing of the Canadian Oil and Gas SectorAgainst1.00%
4/20/23EnvironmentalTransition Plan Disclosure for Financing ActivitiesAgainst23.50%
4/20/23EnvironmentalTCFD Reporting for Pollution Asset Privatization TransactionsAgainst10.40%
4/20/23Environmental Say on ClimateAgainst21.40%
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