TD Bank, Cherry Hill, N.J., USA, is participating in Boise Inc.'s Closed Loop System, a paper recycling program that guarantees at least 1,500 metric tons of paper from TD's operations in Canada and the U.S. are diverted from landfills and used in the production of recycled office paper. TD then purchases the recycled paper for use in its operations—hence the closed loop system. TD is the first Canadian company to participate in a closed loop recycling system and the first to have one that is North American-wide.
"There is a reason why 'green' is our color of choice. TD is taking significant steps to green our operations. We keep looking for ways to reduce our environmental footprint and elimination of waste is key to this," says Gerry Guidice, head, U.S. Real Estate, TD Bank. "This program means we will generate less waste - diverting it from landfills - and recycle more, which is great for the environment and business."
Each year, TD purchases approximately 3,500 metric tons of Forest Stewardship Council certified office paper for its North American operations. Approximately 1,050 metric tons of recycled material is required to manufacture the 3,500 metric tons of paper used by TD - the bank delivers to its partners 1,500 metric tons to ensure adequate supply.
"TD's participation in the closed loop system is both a win for their business and for the environment," says Marty L. Parker, Customer Focus/Governmental Affairs manager, Boise Inc. "The system has a direct and quantifiable impact on the environment by interrupting the solid waste stream and diverting waste from landfills."
TD's closed loop recycling system will save nearly 43,000 trees each year, the equivalent of 300 million sheets of paper. Earlier this year, the company became the first North American-based bank to ensure its global operations are carbon neutral. It also announced earlier this year that it is the largest U.S.-based bank to achieve carbon neutrality, an accomplishment that was recently touted by the U.S. Environmental Protection Agency as the bank was named the nation's 15th greenest organization.
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