A report by environmental groups ForestEthics and Rainforest Action Network accuses the Toronto Dominion Bank (TD) of poor environmental performance because of its financing of West Fraser Timber.

The report, which condemns clearcutting of caribou habitat by West Fraser, was handed to TD shareholdes at the bank’s AGM in Vancouver.

The groups say they want TD to stop financing activities which destroy “endangered forests” and invest instead in sustainable forestry.

West Fraser’s website says all its wholly-owned forestry operations in British Columbia and Alberta have been certified to the ISO 14001 standard, and that all its harvesting operations are conducted under strict government guidelines and regulations designed to protect the environment.