As the newest member of Boise's Closed Loop System, TD Bank will divert at least 1,500 metric tons of paper every year into Boise's paper recycling system, and will purchase the recycled paper back from Boise once it has been remanufactured.
"We keep looking for ways to reduce our environmental footprint and elimination of waste is key to this," Gerry Guidice, head of U.S. Real Estate for TD Bank, said in a statement. "This program means we will generate less waste - diverting it from landfills -- and recycle more, which is great for the environment and business."
The paper that TD Bank purchases for use in its operations is Forest Stewardship Council certified and already contains a portion of recycled paper. TD Bank is promising to deliver at least enough paper to Boise (NYSE: BZ) to manufacture the new generation of paper products that the bank will use each year.
As a result of closing the loop on its paper use, TD Bank will save about 43,000 trees per year, or the equivalent of 300 million sheets of paper.
Earlier this month, the company made the EPA's Green Power Partnership list, landing in the 15th spot for companies that purchase the most renewable energy in the U.S.