The Toronto-Dominion Bank | Board committee on environment and climate at The Toronto-Dominion Bank

Status
Withdrawn
AGM date
Previous AGM date
Resolution details
Resolution ask
Amend board structure
ESG theme
  • Environment
ESG sub-theme
  • Climate change
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
Canada
Resolved clause
It is proposed that the Board of Directors establish an environmental and climate committee. 
Supporting statement
In a recent interview, Mark Carney, former Governor of the Bank of Canada and former Governor of the Bank of England, now Special Envoy on Climate Action and Finance, invited companies to establish a board committee on climate change to better understand the risks associated with the transition to a low-carbon economy. He also added that it would be appropriate for the boards to be enriched by an expert in the field given the complexity of such an issue.  A recent report by the Bank of Canada pointed out that the transition to a lower-carbon economy would be complicated and could be costly for some. The transition will likely lead to complex structural adjustments for carbon-intensive sectors, such as oil and natural gas, and could further expose insurance companies, banks and asset managers to risks. The creation of such a committee would reassure shareholders and stakeholders about its ability to properly manage the risks and opportunities that will arise as a result of climate change, which will continue to have an impact on the economy and the financial system. 

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