17:27:54 EDT Sun 28 Apr 2024
Enter Symbol
or Name
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CA



Toronto-Dominion Bank
Symbol TD
Shares Issued 1,802,041,163
Close 2023-12-15 C$ 83.52
Market Cap C$ 150,506,477,934
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Post/CP say National Bank first in green-energy backing

2023-12-18 09:19 ET - In the News

See In the News (C-NA) National Bank of Canada

The Financial Post reports in its Saturday edition that Canada's top five banks are among the biggest energy backers in the world, but they rank poorly when measured on how much of that financing is directed to low-carbon sources. A Canadian Press dispatch to the Post says that in 2022 banks globally directed 73 cents toward low-carbon energy for every dollar supporting fossil fuels, or a 0.73-to-one ratio. That is well off the four-to-one ratio the report notes they need to hit this decade to limit global warming to 1.5 C. Canada's biggest banks ranged in ratios of between 0.45 to one for Bank of Montreal's $18.9-billion in energy funding, enough to place it 88th in the ranking, down to 0.32 to one for Bank of Nova Scotia's $35.9-billion in financing, which pushed it below the top 100. In between, CIBC had a 0.41 to one ratio for its $17.9-billion in financing, RBC had a 0.37 to one ratio for its $42.7-billion, and TD Bank had a 0.35 to one ratio for its $30.2-billion in financing, putting it at the bottom of the list of 100 banks. National Bank was a notable outlier, coming in at $1.10 in low-carbon financing for every dollar put toward fossil fuels in its $14.9-billion in financing, enough to rank 52nd globally.

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