Looking at the Benefits of Putting an Internal Price on Carbon

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Looking at the Benefits of Putting an Internal Price on Carbon

TD's Chief Environment Officer featured in CDP's "Corporate Use of Carbon Prices" report


In 2010, TD Bank Group (TD) became the first North America–based carbon-neutral bank, just one part of our commitment to environmental leadership. Our approach to achieving carbon neutrality has three elements: reducing our energy use, greening our energy supply and investing in innovative renewable energy credits (RECs) and carbon offsets—at least 50% of which have a social benefit.

Wednesday, July 2, 2014 - 2:25pm

CONTENT: Article

By Karen Clarke-Whistler, Chief Environment Officer, TD Bank Group

How does our internal carbon pricing work? We calculate the cost of the RECs and carbon offsets on an annual basis and charge them back to our business groups based on the relative contribution of those groups to our overall carbon emissions. Our internal price on carbon is about $10 per tonne of CO²e.

Having an internal price on carbon aligns with our approach of embedding the environment across our business. We use a carbon price to engage our more than 85,000 employees in our carbon neutral initiative and make it a factor in just about everything we do.

Being carbon neutral and having an internal price on carbon has quite literally transformed the bank....

To read the full article, visit page 15 of CDP's Corporate Use of Carbon Prices.



Keywords: Energy | Carbon Emissions | Carbon pricing | Environment & Climate Change | Renewable Energy Credits | TD | TD Environment

CONTENT: Article