TD Bank Aims to Be 'Paper Neutral' in 2012

TD Bank Aims to Be 'Paper Neutral' in 2012

Paper image via Shutterstock.

You don't hear much talk these days about companies going carbon neutral, the trend du jour back in 2007.

Now a Canadian-based bank is applying the concept to its paper use, with a goal to become "paper neutral" by the end of 2012. TD Bank Group became carbon neutral last year.

TD Bank Group, which consists of the Toronto-Dominion Bank and its subsidiaries, plans to attack its paper use by reducing consumption by 20 percent by 2015, largely by pumping up its paperless banking practices.

But it won't be able to completely eradicate all paper consumption, so the company is joining forces with the Nature Conservancy of Canada offset what it can't get away from using, TD Bank Group announced last week. According to the NGO, the pair will team up to protect threatened forest areas across the country.

Whether that will truly make the company's North American operations "paper neutral" remains to be seen, but it isn't the first time that TD Bank has targeted its paper footprint. The company joined Boise's Closed Loop System last year to divert more than 1,500 metric tons of paper into Boise's recycling system annually. TD Bank then buys the recycled paper after it is remanufactured by Boise. TD Bank estimates that the program will save about 43,000 trees every year.

The company also has set a goal of reducing its carbon footprint by one tonne of emissions per employee by 2015.

Earlier this year, TD Bank opened the first zero-net energy bank building in the U.S. The TD Bank branch in Ft. Lauderdale, Fla., is one of several initiatives the bank uses to convey to customers that going green can be good for business.

"Our employees are asking for it. Customers like it," Jacquelynn Henke, the bank's real estate green strategy officer, told GreenBiz Senior Writer Marc Gunther earlier this year. "It helps deliver shareholder value. It's a win on all levels."

Paper image via Shutterstock.