Canadian bank TD Bank Group announced today that it has joined RMI’s Center for Climate-Aligned Finance as a strategic partner. TD stated that its support for RMI forms an important step in its global climate action plan, which the bank launched in November 2020.

Andrea Barrack, Global Head of Sustainability and Corporate Citizenship at TD Bank Group, said:

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“We recognize the critical role that the financial sector plays in helping to enable the path to a low-carbon economy for the benefit of our customers and the communities we serve. Managing a successful transition toward a climate-aligned financial sector requires working collaboratively and scaling for impact. We are proud to join the Center for Climate-Aligned Finance in this collective effort to improve the environment so people and economies can thrive.”

RMI is a non-profit clean energy organization dedicated to developing market-based solutions for a sustainable low-carbon future. The organization founded the Center for Climate-Aligned Finance in July 2020, aiming to enable financial institutions, corporations, and experts overcome practical obstacles to climate alignment. The Center works across industries to shape sectoral climate alignment initiatives for high-emitting industries and contributes to the development of global solutions, practices, and frameworks, aligning financial decision-making with the decarbonization of the real economy. Today’s announcement marks the second major Canadian bank to join the center, following CIBC, which joined last week.

Paul Bodnar, Chief Strategy Officer at RMI and the Center’s Chair, said:

“Decarbonizing the global economy by mid-century will require the financial sector to align its climate goals with those of its clients in carbon-intensive industries. We are delighted to welcome TD Bank Group as a Strategic Partner in this work and are excited to work alongside TD Bank Group to expand the scope of this work to TD Bank Group’s clients in Canada and around the world.”