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Toronto Dominion First Canadian Bank First Canadian Bank to Adopt Environmental Policy

Toronto Dominion First Canadian Bank is the first bank in Canada to adopt a comprehensive policy to guide financing and operations. The policy specifically recognizes and commits to actions relating to its operation and financing as they relate to indigenous rights, biodiversity conservation and climate change. The policy also recognizes the global significance of Canada’s Boreal forest and begins to address the specific threats and opportunities associated with this national treasure. As part of its policy, TD will measure, report on and improve its own environmental footprint and work with its clients – including high risk industries like mining, logging, oil and gas – to assess and improve the environmental impacts and risks associated with their activities. “When we brought these issues to TD’s attention more than a year ago, they were a laggard in their sector. This policy signals not only that they are paying real attention to critical issues like global warming, but that they are willing to engage us in a meaningful consultation. That said, the ultimate test is whether we see real change in TD’s financing practices and operations,” said Rebecca Tarbotton, Rainforest Action Network’s Global Finance campaign director. Website: [sorry this link is no longer […]

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Update: Energy Progress in Congress

U.S. Senator Pete Domenici says he views a 15% Renewable Portfolio Standard (RPS) as an unfair burden to consumers. When the Senate takes up energy, probably next week, he and other Senators are planning to offer an alternative Clean Energy Portfolio Standard (CEPS), which he says would create a fair playing field for all low-emission energy resources. His CEPS would broaden the definition of renewables to include nuclear, hydropower and clean coal. It includes provisions to help states use less electricity to meet target goals, such as energy efficiency measures. Domenici says the RPS requirement that States that can’t produce the required amount of renewable energy would purchase credits, would be onerous to consumers, since the cost would likely be passed onto them. “I believe that we should find ways for all 50 states to produce clean energy, which is what a Clean Energy Portfolio Standard would do. States have unique resources and the federal government must recognize that and legislate accordingly. A Clean Energy Portfolio Standard, instead of a one-size fits all federal RPS mandate, would provide states with much needed flexibility in meeting their electricity needs, and would help our nation move toward cleaner energy,” he said. — […]

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Dell To Reduce Carbon Footprint

Dell Inc. (Nasdaq: DELL) says it has launched a long-term Zero Carbon Initiative to maximize the energy efficiency of its products and offset its carbon impact. Dell committed to reduce the carbon intensity of its global operations by 15% by 2012. To do so, it will focus on IT lifecycle assessments and management of Dell’s direct and indirect climate impacts, through its suppliers and customers. Dell CEO Michael Dell said, “Our goal is simple and clear.” “We’ll take the lead in setting an environmental standard for our industry that will reflect our partnership with, and direct feedback from, our customers, suppliers and stakeholders, and we intend to maintain that leadership.” Dell has requested that its primary suppliers begin reporting greenhouse gas emission data. Dell will work with suppliers on emission reduction strategies, but noted that their environmental performance could influence the amount of business it receives from Dell. Michael Dell also proposed that the effectiveness of corporate climate policies be measured by comparing total reported GHG emissions to annual revenue. He said using this measurement places the company among the lowest emitters of the Fortune 50. The company also sees its Plant a Tree program as important part of reducing […]

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Hawaii Gets 1.5MW Solar Farm

Hawaii will soon be home to a 1.5 MW solar farm, which will be the fourth largest in the U.S. Castle & Cooke, Inc. signed a contract through its subsidiary, Lana`i Sustainability Research, LLC, to build the solar PV farm. It will be built on a 10-acre site by SunPower (Nasdaq:SPWR). The project will use SunPower Tracker technology, which features an innovative single-axis design that enables the solar panels to automatically follow the path of the sun throughout the day. This advanced tracking system will significantly increase energy capture by more than 500,000 kilowatt hours annually. “This project will add 14.4 percent to the installed electric generating capacity on Lana`i and its day-time duty is expected to provide up to 30 percent of the island’s power demand,” noted Maui Mayor Charmaine Tavares. “This clean, renewable energy project will replace the equivalent of 202,400 gallons of diesel fuel, thereby avoiding 4.5 million pounds of global-warming carbon dioxide emission in Maui County annually. Castle & Cooke is in the process of negotiating a power purchase agreement with MECO to provide the solar power to Lana`i’s community through MECO’s electrical grid. Castle & Cooke is also moving forward with plans for wind energy […]

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Macy's to Power 26 Stores with Solar

26 California Macy’s stores will run on a total of 8 MW, announced the company. PowerLight has been selected to install the systems, and will also assist Macy’s in energy efficiency improvements in the stores. The combination of efficiency and solar is expected to reduce Macy’s energy use from utilities by 40%. Energy efficiency upgrades include high-efficiency lighting and HVAC systems and energy management systems. For 15 of the stores, Macy’s will buy solar-generated electricity, rather than the panels themselves, under a 10-year contract.

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Honda to Discontinue Accord Hybrid Sedan

Honda Motor Company announced it would discontinue the slow-selling Accord hybrid sedan in North America later this year. The 6,152 hybrid Accords sold in 2006 make continuation of the product unviable, says the company. Its sales target is 20,000 vehicles a year. Honda plans to continue the Civic Hybrid and will introduce a smaller hybrid in 2009. The company says it will only produce hybrids on smaller vehicles going forward.

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FTC Blocks Whole Foods-Wild Oats Merger

The Federal Trade Commission announced it is filing a lawsuit to block the proposed Whole Foods-Wild Oats merger. It claims there could be anti-trust issues in allowing the two dominant natural food supermarkets to merge. Whole Foods and Wild Oats announced they will vigorously challenge the FTC’s decision. Industry insiders and financial analysts alike expressed surprise and believe the FTC is missing the point. “I’m startled by FTC’s actions,” said John Moore, founder of brandautopsy.com and former director of national marketing for Whole Foods. “With all the major grocery stores stocking more natural and organic offerings, it seems preposterous to think a merged Whole Foods and Wild Oats would be a threat to competitiveness.” Organic food makes up a tiny 3% of the total grocery sales. And even the combined sales of Whole Foods and Wild Oats represent only about 11% of total U.S. natural food sales.

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