As the world reflects on pledges made at the United Nations climate conference (COP26) to reduce carbon emissions, and scientists develop new ways to scale up renewable energy, McGill University’s efforts to contribute to a cleaner, carbon-free future will take another big leap forward thanks to a $2-million donation from TD Bank Group (TD).
The generous donation – through the TD Ready Commitment, the Bank’s global corporate citizenship platform – to the McGill Centre for Innovation in Storage and Conversion of Energy (McISCE) will help bolster research capacity in cutting-edge, carbon-free energy solutions, build a community of researchers in the field, and train students to become agents of change who can drive forward the advanced clean energy storage technologies of the new green economy.
Current technology allows energy to be harvested from alternatives to fossil fuels, including wind, solar, and hydro power, but the challenges of long-term storage and conversion of this energy are major obstacles to their widespread use. The new McGill Centre for Innovation in Storage and Conversion of Energy, formed in spring 2021, aims to help address that hurdle – and move us closer to a green economy and sustainable future – by becoming one of the world’s leading sites for research into carbon-free energy conversion and storage innovation.
“We are very grateful to TD for this timely and visionary donation to help find solutions to the climate crisis,” said Jim Nicell, Dean of McGill’s Faculty of Engineering. “In our work to move towards a sustainable economy based on renewable energy, it is imperative that we develop affordable carbon-free energy carriers and energy storage technologies. It is equally important that we educate those who are needed to develop, design, build and operate these systems. To do this, we must mobilize researchers and students from multiple disciplines across McGill, who will work together to address these challenges.”
The donation aligns with the commitment made by TD to support and help accelerate the transition to a low-carbon economy – including renewable and clean energy technologies, businesses, and processes.
“At TD, we believe that we have a role to play when it comes to driving sustainable growth for the customers and communities we serve, and the economies we support,” said Norie Campbell, Group Head and General Counsel, TD Bank Group. “We’re proud to support the McGill Centre for Innovation in Storage and Conversion of Energy, and the enthusiasm and ingenuity of the innovators that help inspire positive change.”
The support for the McGill Centre for Innovation in Storage and Conversion of Energy comes at a pivotal time. The Government of Canada recently pledged to achieve net-zero emissions by 2050. Against this background, McISCE will unite world-leading expertise in energy storage and conversion technologies, and specifically target zero-carbon energy technologies.
Based in the Faculty of Engineering, the McGill Centre for Innovation in Storage and Conversion of Energy also has members in the faculties of Science, Agricultural and Environmental Sciences, and Management. Already, its network of about 40 professors, each with teams of undergraduate, graduate, and postdoctoral students, is pursuing research into such areas as developing lithium-ion battery technology and carbon-free energy carriers, including hydrogen, ammonia, and metals as recyclable fuels.
About McGill University
Celebrating 200 years of discovery and learning, McGill University ranks as one of the top universities in Canada and the world. McGill’s mission is to create and share knowledge by offering the best possible education, by carrying out research and scholarly activities judged to be excellent by the highest international standards, and by providing service to society. These activities span three campuses, 11 faculties, 13 professional schools, and some 300 programs of study. Every year, McGill welcomes over 40,000 students, attracting more than 30% from 150-plus countries, and has the highest percentage of PhD students of any Canadian research university. Nearly 60% of its student population speaks French.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (“TD” or the “Bank”). TD is the fifth largest bank in North America by assets and serves more than 26 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America’s Most Convenient Bank®, 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’s leading online financial services firms, with more than 15 million active online and mobile customers. TD had CDN$1.7 trillion in assets on July 31, 2021. The Toronto-Dominion Bank trades under the symbol “TD” on the Toronto and New York Stock Exchanges.
About TD Ready Commitment
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 $1 billion (U.S. $775 million) in total by 2030 towards community giving in four areas critical to opening doors for a more inclusive and sustainable tomorrow – 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 more confident - 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.