TD Bank Financial Group made progress on goals related to the environment, diversity, community investment and governance in 2008, the bank’s seventh annual Corporate Responsibility Report reveals.

The report gives an overview of TD’s corporate responsible activities throughout 2008, and sets priorities for the year ahead.

“I’m proud to say, in 2008, TD stood firm in its commitment to its communities, customers, employees, shareholders, fellow citizens and the environment we all share,” said Ed Clark, president and CEO of TD Bank Financial Group. “For some organizations, in trying times like these, being a strong corporate citizen can become less of a priority.”

On the environment, TD Bank became the first major Canadian bank to commit to becoming carbon-neutral by 2010. The bank also worked in co-operation with the Pembina Institute and the David Suzuki Foundation, to sponsor the preparation of an economic analysis of the impacts of regulation of greenhouse gases in Canada.

TD Bank also became a signatory to the United Nations Principles for Responsible Investment in 2008, committing to adopt the principles that recognize the increasing relevance of environmental, social and governance issues to investment practices.

In the area of diversity, TD Bank enhanced its employee diversity program by launching a “Diversity in Action” toolkit for managers to use with employees and continuing with one-day diversity workshops for managers. The bank has launched specific diversity initiatives for groups including women, visible minorities, Aboriginal peoples, persons with disabilities and gay, lesbian, bi-sexual, transgendered and ally employees.

In terms of community development, TD Bank donated more than $47 million to charities worldwide in 2008. Key areas of focus for its community development investment include children and youth, and correspondingly, literacy and education.

Examples include supporting Children’s Miracle Network foundation hospitals through the TD Children’s Hospital Fund, encouraging children to read through the TD Summer Reading Club and TD Canadian Children’s Book Week and awarding TD Canada Trust Scholarships for Community Leadership to 20 youth who made a difference in their communities.

For the year ahead, TD Bank is focused on enhancing corporate responsibility reporting by launching a revamped corporate responsibility website, strengthening social and environmental practices and performance, and continuing to engage with stakeholders.

IE