TD Bank and its parent company TD Bank Financial Group are participating in paper manufacturer Boise Inc.’s paper recycling program to divert paper waste from landfills.
The Boise Closed Loop System guarantees that at least 1,500 metric tons of paper from TD’s operations in Canada and the U.S. is diverted from landfills and used in the production of recycled office paper, which the bank purchases for use at its operations.
TD’s closed loop recycling system is expected to save nearly 43,000 trees each year, the equivalent of 300 million sheets of paper.
TD says it is the first Canadian company to participate in a closed loop recycling system and the first to have one that is North American-wide.
Each year, TD purchases approximately 3,500 metric tons of Forest Stewardship Council certified office paper for its North American operations, which uses approximately 1,050 metric tons of recycled material to manufacture. The bank delivers to its partners 1,500 metric tons to ensure adequate supply.
Participants in the TD closed loop recycling program include TD, Iron Mountain, Recycle America/Waste Management and Boise. Each organization represents one stage of the closed loop system, which is based on volume credits to minimize environmental impact, says TD.
Earlier this month, TD Bank opened a new ‘green’ call center in Auburn, Maine, that will be powered 100 percent by green power sources. In February, TD became the first North American bank to go carbon neutral.