{"id":539234,"date":"2021-09-16T11:16:38","date_gmt":"2021-09-16T15:16:38","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/td-commits-10m-in-the-continued-effort-to-combat-anti-black-racism-and-systemic-discrimination-in-canada\/"},"modified":"2021-09-16T11:16:38","modified_gmt":"2021-09-16T15:16:38","slug":"td-commits-10m-in-the-continued-effort-to-combat-anti-black-racism-and-systemic-discrimination-in-canada","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/td-commits-10m-in-the-continued-effort-to-combat-anti-black-racism-and-systemic-discrimination-in-canada\/","title":{"rendered":"TD commits $10M in the continued effort to combat anti-Black racism and systemic discrimination in Canada"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">Canada NewsWire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">Sept. 16, 2021<\/span> \/CNW\/ &#8211; TD Bank Group (TD) announced today a CDN <span class=\"xn-money\">$10 million<\/span> commitment over the next five years to the Black Opportunity Fund (BOF).\u00a0This donation is among the largest contributions\u00a0in <span class=\"xn-location\">Canada<\/span> to a Black-focused, Black-led and Black-serving\u00a0organization.\u00a0<\/p>\n<p>Established in 2020, BOF was founded\u00a0and is led by a team of diverse Black Canadian professionals\u00a0to help establish a <span class=\"xn-money\">$1.5 billion<\/span> fund,\u00a0one of\u00a0the largest in the world, that is designed to dismantle the structural barriers that for generations have prevented many Black Canadians from achieving economic success.\u00a0<\/p>\n<p>&#8220;At TD, we believe that we can be a catalyst for positive change as we strive to enrich the lives of our customers, communities and colleagues,&#8221; says Bharat Masrani, Group President and CEO, TD Bank Group. &#8220;Economic\u00a0inclusion\u00a0can be\u00a0instrumental in reversing\u00a0the impacts of systemic racism and bias,\u00a0and together with Black Opportunity Fund, we are committed to continuing to help meet the needs of Black communities while contributing to\u00a0the creation of\u00a0an equitable society and better future for all.&#8221;\u00a0<\/p>\n<p>Built on the understanding that a significant number of\u00a0Black-focused, Black-led and Black-serving\u00a0organizations continue to be under-resourced and under-funded in <span class=\"xn-location\">Canada<\/span>, the work of BOF directs stable and long-term financing and resources into the\u00a0community.\u00a0\u00a0<\/p>\n<p>As part of TD&#8217;s\u00a0financial\u00a0commitment, BOF will establish a philanthropic granting pool totaling <span class=\"xn-money\">$400,000<\/span> per year to fund Black-serving\u00a0community\u00a0and non-profit organizations focused on areas\u00a0of financial security, inspired by one of the four drivers of the\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3293586-1&amp;h=2942800171&amp;u=https%3A%2F%2Fwww.td.com%2Fca%2Fen%2Fabout-td%2Fready-commitment%2F&amp;a=TD+Ready%C2%A0Commitment\" rel=\"nofollow noopener\">TD Ready\u00a0Commitment<\/a>, the Bank&#8217;s corporate citizenship platform.\u00a0TD&#8217;s financial commitment will also be applied to BOF&#8217;s endowment fund, designed to support the long-term sustainability and permanency of the Fund.\u00a0\u00a0<\/p>\n<p>In addition to its financial contributions, TD intends to provide its people the opportunity to harness their passion and talent to support the work that BOF is leading.\u00a0Every year, two\u00a0positions will be created for\u00a0TD colleagues who can apply to be\u00a0seconded to BOF to work on\u00a0selected BOF\u00a0projects and initiatives that support the organization&#8217;s mission\u00a0to\u00a0help dismantle the effects of anti-Black racism. Further, a wide-range of BOF volunteer opportunities, including skill-based projects,\u00a0will be available to TD employees through the TD Ready Commitment Network,\u00a0the Bank&#8217;s\u00a0internal\u00a0engagement platform.\u00a0\u00a0<\/p>\n<p>&#8220;Black Opportunity Fund is pleased to accept this incredible show of confidence in our mission and objectives from one of <span class=\"xn-location\">North America&#8217;s<\/span> largest Banks,&#8221; said <span class=\"xn-person\">Craig Wellington<\/span>, Executive Director of Black Opportunity Fund. &#8220;We believe this\u00a0historic commitment from TD will translate into real change including social and economic empowerment for many Black Canadians,&#8221; said Wellington. &#8220;Our goal with this financial gift \u2013 as well as the\u00a0volunteer\u00a0contributions from TD &#8211; is to positively impact Black-led\u00a0community\u00a0organizations and Black entrepreneurs, who have consistently struggled to realize their potential in <span class=\"xn-location\">Canada<\/span> due to\u00a0systemic\u00a0discrimination and a\u00a0historic lack of access to capital.&#8221;\u00a0\u00a0<\/p>\n<p>TD will work with BOF to better understand and address the barriers that Black\u00a0banking\u00a0customers face by using insights from BOF. Both organizations are committed to reducing systemic bias and discrimination and believe that this work will help the\u00a0Bank to build a more inclusive culture and support the specific needs and financial aspirations of Black communities across Canada.\u00a0\u00a0<\/p>\n<p>The collaboration with BOF is just one of the many initiatives underway at TD as part of its broader commitment to further advance its inclusion and diversity priorities, such as doubling the representation of Black executives by the end of 2022, as well as increasing minority executive representation across the Bank by 50% by 2025. At the same time, through the TD Ready Commitment, TD has contributed a total of <span class=\"xn-money\">$17.5 million<\/span> in <span class=\"xn-location\">Canada<\/span> and the U.S. in 2020 to address the immediate and longer-term impacts of racism and advance related goals, including <span class=\"xn-money\">$12.1 million<\/span> in support of Black-led and Black-focused organizations. <\/p>\n<p>Through these initiatives, TD is proud to continue to help drive progress toward a\u00a0more inclusive, equitable tomorrow harnessing the scale of its business, philanthropy, and people.\u00a0<\/p>\n<p>To learn\u00a0more about the Black Opportunity Fund, please visit <a href=\"http:\/\/www.blackopportunityfund.ca\" rel=\"nofollow\">www.blackopportunityfund.ca<\/a>.\u00a0\u00a0<\/p>\n<p>\n        <b>About TD Bank Group\u00a0<\/b>\u00a0<br \/>The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (&#8220;TD&#8221; or the &#8220;Bank&#8221;). TD is the fifth largest bank in <span class=\"xn-location\">North America<\/span> by assets and serves\u00a0more than 26 million customers in three key businesses operating in a number of locations in financial\u00a0centres\u00a0around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (<span class=\"xn-location\">Canada<\/span>), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America&#8217;s\u00a0Most Convenient Bank\u00ae, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. TD also ranks among the world&#8217;s leading online financial services firms, with\u00a0more than 15 million active online and\u00a0mobile customers. TD had <span class=\"xn-money\">CDN$1.7 trillion<\/span> in assets on <span class=\"xn-chron\">July 31, 2021<\/span>. The Toronto-Dominion Bank trades under the symbol &#8220;TD&#8221; on the <span class=\"xn-location\">Toronto<\/span> and New York Stock Exchanges.\u00a0<\/p>\n<p>\n        <b>About the TD Ready Commitment<br \/><\/b>TD has a long-standing commitment to enriching the lives of its customers, colleagues and communities. As part of its corporate citizenship platform, the TD Ready Commitment, TD is targeting CDN <span class=\"xn-money\">$1 billion<\/span> (U.S. <span class=\"xn-money\">$775 million<\/span>) in total by 2030 towards\u00a0community\u00a0giving in four areas critical to opening doors for a\u00a0more inclusive and sustainable tomorrow \u2013 Financial Security, Vibrant Planet, Connected Communities and Better Health. Through the TD Ready Commitment, TD aspires to link its business, philanthropy and human capital to help people feel\u00a0more confident &#8211; not just about their finances, but also in their ability to achieve their personal goals in a changing world. For further information, visit td.com\/tdreadycommitment.\u00a0<\/p>\n<p>\n        <b>About Black Opportunity Fund\u00a0<\/b>\u00a0<br \/>The Black Opportunity Fund is a dynamic partnership between philanthropists, foundations, businesses and the Black\u00a0community\u00a0to combat the impact of anti-B lack racism in Canada.\u00a0<br \/>The fund will catalyze cultural, economic, and political growth to enable <span class=\"xn-location\">Canada&#8217;s<\/span> institutions, governments, and businesses to embrace greater diversity at all levels. The fund will broadly prioritize initiatives around education, healthcare, youth, women, social justice, immigration, technology, entrepreneurship, and government that impact the quality of life in the Black\u00a0community.\u00a0<\/p>\n<p>SOURCE  TD Bank Group<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C6908&amp;Transmission_Id=202109161113CANADANWWEB______C6908&amp;DateId=20210916\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada NewsWire TORONTO, Sept. 16, 2021 \/CNW\/ &#8211; TD Bank Group (TD) announced today a CDN $10 million commitment over the next five years to the Black Opportunity Fund (BOF).\u00a0This donation is among the largest contributions\u00a0in Canada to a Black-focused, Black-led and Black-serving\u00a0organization.\u00a0 Established in 2020, BOF was founded\u00a0and is led by a team of diverse Black Canadian professionals\u00a0to help establish a $1.5 billion fund,\u00a0one of\u00a0the largest in the world, that is designed to dismantle the structural barriers that for generations have prevented many Black Canadians from achieving economic success.\u00a0 &#8220;At TD, we believe that we can be a catalyst for positive change as we strive to enrich the lives of our customers, communities and colleagues,&#8221; says Bharat Masrani, Group &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/td-commits-10m-in-the-continued-effort-to-combat-anti-black-racism-and-systemic-discrimination-in-canada\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;TD commits $10M in the continued effort to combat anti-Black racism and systemic discrimination in Canada&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-539234","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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