Kansas City Southern Commits to Setting a Science-Based Emissions Reduction Target
January 19 2021 - 8:00AM
Business Wire
Kansas City Southern (KCS) (NYSE: KSU) announced that it has
submitted a commitment letter to the Science Based Targets
Initiative (SBTi) pledging to set a science-based greenhouse gas
emissions reduction target. KCS’ science-based target will align
with what climate scientists say is needed to meet the Paris
Agreement goal of limiting global warming to well below 2°C above
pre-industrial levels.
Railroads are already one of the most efficient modes of
transportation. Moving freight by rail instead of truck reduces
greenhouse gas emissions by up to 75 percent. By committing to the
SBTi, KCS is building on steps already taken to lower its
greenhouse gas emissions, including actions taken during its
Precision Scheduled Railroading implementation to improve fuel
efficiency and investments in fuel-saving technologies.
“Kansas City Southern has long recognized the important role
that rail plays in lowering overall transportation emissions,”
stated president and chief executive officer Patrick J.
Ottensmeyer. “Our pledge to issue a science-based target reinforces
our commitment to further improving fuel efficiency and lowering
emissions in support of a more sustainable North American supply
chain.”
Headquartered in Kansas City, Mo., KCS is a transportation
holding company that has railroad investments in the U.S., Mexico
and Panama. Its primary U.S. holding is The Kansas City Southern
Railway Company, serving the central and south central U.S. Its
international holdings include Kansas City Southern de Mexico, S.A.
de C.V., serving northeastern and central Mexico and the port
cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent
interest in Panama Canal Railway Company, providing ocean-to-ocean
freight and passenger service along the Panama Canal. KCS' North
American rail holdings and strategic alliances with other North
American rail partners are primary components of a unique railway
system, linking the commercial and industrial centers of the U.S.,
Mexico and Canada. More information about KCS can be found at
www.kcsouthern.com
Forward-Looking Information
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
Section 21E of the Securities Exchange Act of 1934, as amended and
the Private Securities Litigation Reform Act of 1995. In addition,
management may make forward-looking statements orally or in other
writing, including, but not limited to, in press releases,
quarterly earnings calls, executive presentations, in the annual
report to stockholders and in other filings with the Securities and
Exchange Commission. Readers can usually identify these
forward-looking statements by the use of such words as "may,"
"will," "should," "likely," "plans," "projects," "expects,"
"anticipates," "believes" or similar words. These statements
involve a number of risks and uncertainties. Actual results could
materially differ from those anticipated by such forward-looking
statements as a result of a number of factors or combination of
factors including, but not limited: public health threats or
outbreaks of communicable diseases, such as the ongoing COVID-19
pandemic and its impact on KCS’s business, suppliers, consumers,
customers, employees and supply chains; rail accidents or other
incidents or accidents on KCS’s rail network or at KCS’s facilities
or customer facilities involving the release of hazardous
materials, including toxic inhalation hazards; legislative and
regulatory developments and disputes, including environmental
regulations; loss of the rail concession of Kansas City Southern’s
subsidiary, Kansas City Southern de México, S.A. de C.V.; domestic
and international economic, political and social conditions;
disruptions to the Company’s technology infrastructure, including
its computer systems; increased demand and traffic congestion; the
level of trade between the United States and Asia or Mexico;
fluctuations in the peso-dollar exchange rate; natural events such
as severe weather, hurricanes and floods; the outcome of claims and
litigation involving the Company or its subsidiaries; competition
and consolidation within the transportation industry; the business
environment in industries that produce and use items shipped by
rail; the termination of, or failure to renew, agreements with
customers, other railroads and third parties; fluctuation in prices
or availability of key materials, in particular diesel fuel; access
to capital; climate change and the market and regulatory responses
to climate change; dependency on certain key suppliers of core rail
equipment; changes in securities and capital markets;
unavailability of qualified personnel; labor difficulties,
including strikes and work stoppages; acts of terrorism or risk of
terrorist activities, war or other acts of violence; and other
factors affecting the operation of the business; and other risks
identified in this news release, in KCS's Annual Report on Form
10-K for the year ended December 31, 2019, and in other reports
filed by KCS with the Securities and Exchange Commission.
Forward-looking statements reflect the information only as of
the date on which they are made. KCS does not undertake any
obligation to update any forward-looking statements to reflect
future events, developments, or other information.
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version on businesswire.com: https://www.businesswire.com/news/home/20210119005050/en/
Ashley Thorne, 816-983-1530, athorne@kcsouthern.com
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