CN (TSX: CNR) (NYSE: CNI) has been recognized for leadership in
corporate sustainability by global environmental non-profit CDP,
securing a place on its prestigious ‘A List’ for tackling climate
change.
CN was recognized for its actions to cut
emissions, mitigate climate risks and develop the low-carbon
economy, based on the data reported by the company through CDP’s
2021 climate change questionnaire.
CN is one of 200 high-performing companies to
make the ‘A’ list out of nearly 12,000 companies that were scored.
Through significant demonstrable action on climate, CN is leading
on corporate environmental ambition, action and transparency
worldwide.
“We are proud to have secured a place on CDP's
A-list for the sixth time as well as being recognized for the
twelfth time. We are committed to powering sustainable growth for
our customers, people and communities. Our goal is to conduct our
operations with minimal environmental impact while providing
cleaner, more sustainable transportation services to our customers.
Since 1993, we have reduced our locomotive emission intensity by
43%, avoiding over 48 million tonnes of GHG emissions. CN’s 2021
CDP response outlines our commitment to support the transition to a
low carbon future, complementing our on-going discussions with
investors and the work we do with our customers on the matter of
climate change.”
- JJ Ruest, President
and chief executive officer at CN
Recognizing the urgency of the fight against
climate change, CN is committed to improving our carbon intensity
consistent with stabilizing global temperatures. Our new 2030
horizon science-based targets that reflect a well-below 2°C
scenario were approved by the Science Based Targets initiative
(SBTi) in April 2021.
CN recently signed the “Business Ambition for
1.5°C” and joined the “Race To Zero” Campaign, committing to
setting targets in line with a 1.5°C scenario and net-zero carbon
emissions by 2050.
As CN looks to 2030 and beyond, decarbonizing
rail transportation will continue to require innovative
fuel-efficient technologies, the greater use of cleaner sustainable
fuels, and designing innovative low emission supply chain
solutions. CN also recognizes the importance of collaborating with
governments, supply chain partners, universities, cleantech, fuel
producers, locomotive/engine manufacturers and working with
customers on evolving markets and infrastructure adaptation in
achieving an effective transition to a lower carbon future.
Recently, CN announced important partnerships regarding renewable
fuels testing and the purchase of a battery-electric locomotive for
joint pilot projects.
“Many congratulations to all the companies on this year’s A
List. Taking the lead on environmental transparency and action is
one of the most important steps businesses can make, even more so
in the year of COP26 and the IPCC’s Sixth Assessment Report. The
scale of the risk to businesses from climate change, water
insecurity and deforestation can no longer be ignored, and we know
the opportunities of action far outweigh the risks of inaction.
Leadership from the private sector is essential for securing global
ambitions for a net-zero, nature positive and equitable world. Our
A List celebrates those companies who are preparing themselves to
excel in the economy of the future by taking action today.”
- Paul Simpson, CEO of CDP
CDP’s annual environmental disclosure and
scoring process is widely recognized as the gold standard of
corporate environmental transparency. In 2021, over 590 investors
with over US$110 trillion in assets and 200 major purchasers with
US$5.5 trillion in procurement spend requested companies to
disclose data on environmental impacts, risks and opportunities
through CDP’s platform. A record-breaking 13,000 companies
responded.
A detailed and independent methodology is used
by CDP to assess these companies, allocating a score of A to D-
based on the comprehensiveness of disclosure, awareness and
management of environmental risks and demonstration of best
practices associated with environmental leadership, such as setting
ambitious and meaningful targets. Those that don’t disclose or
provided insufficient information are marked with an F.
The full list of companies that made this year’s CDP A List is
available here, along with other publicly available company scores:
https://www.cdp.net/en/companies/companies-scores.
More information about CN’s CDP response is available online:
www.cn.ca/environment.
About the CDP CDP is a global
non-profit that runs the world’s environmental disclosure system
for companies, cities, states and regions. Founded in 2000 and
working with more than 590 investors with over $110 trillion in
assets, CDP pioneered using capital markets and corporate
procurement to motivate companies to disclose their environmental
impacts, and to reduce greenhouse gas emissions, safeguard water
resources and protect forests. Over 14,000 organizations around the
world disclosed data through CDP in 2021, including more than
13,000 companies worth over 64% of global market capitalization,
and over 1,100 cities, states and regions. Fully TCFD aligned, CDP
holds the largest environmental database in the world, and CDP
scores are widely used to drive investment and procurement
decisions towards a zero carbon, sustainable and resilient economy.
CDP is a founding member of the Science Based Targets initiative,
We Mean Business Coalition, The Investor Agenda and the Net Zero
Asset Managers initiative. Visit cdp.net or follow us @CDP to find
out more.
About CNCN is a world-class
transportation leader and trade-enabler. Essential to the economy,
to the customers, and to the communities it serves, CN safely
transports more than 300 million tons of natural resources,
manufactured products, and finished goods throughout North America
every year. As the only railroad connecting Canada’s Eastern and
Western coasts with the U.S. South through a 19,500-mile rail
network, CN and its affiliates have been contributing to community
prosperity and sustainable trade since 1919. CN is committed to
programs supporting social responsibility and environmental
stewardship.
Forward-Looking
StatementsCertain statements included in this news release
constitute “forward-looking statements” within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
under Canadian securities laws. By their nature, forward-looking
statements involve risks, uncertainties and assumptions. CN
cautions that its assumptions may not materialize and that current
economic conditions render such assumptions, although reasonable at
the time they were made, subject to greater uncertainty.
Forward-looking statements may be identified by the use of
terminology such as “believes,” “expects,” “anticipates,”
“assumes,” “outlook,” “plans,” “targets,” or other similar
words.
Forward-looking statements are not guarantees of
future performance and involve risks, uncertainties and other
factors which may cause actual results, performance or achievements
of CN, to be materially different from the outlook or any future
results, performance or achievements implied by such statements.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements. Important risk factors that could
affect the forward-looking statements in this news release include,
but are not limited to, expectations, estimates, projections and
assumptions relating to: CN’s fuel efficiency; the Company’s
ability to implement certain initiatives, including emissions
targets, scenario analyses, risk mitigation strategies, changes to
enterprise risk management, future investments in and the
availability of carbon emissions-reduction tools and technologies
including through CN’s fleet upgrades; the impacts of existing and
planned capital investments; North American and global economic
growth; applicable laws, rules, regulations and government
policies; the availability and cost of labour on the timelines
anticipated and with the capabilities required, as well as the
availability and cost of services and infrastructure; and capital
investments and technology developments by third
parties. Reference should also be made to Management’s
Discussion and Analysis in CN’s annual and interim reports, Annual
Information Form and Form 40-F, filed with Canadian and U.S.
securities regulators and available on CN’s website, for a
description of major risk factors relating to CN.
Forward-looking statements reflect information
as of the date on which they are made. CN assumes no obligation to
update or revise forward-looking statements to reflect future
events, changes in circumstances, or changes in beliefs, unless
required by applicable securities laws. In the event CN does update
any forward-looking statement, no inference should be made that CN
will make additional updates with respect to that statement,
related matters, or any other forward- looking statement.
Contacts:
Media |
Investment
Community |
Mathieu Gaudreault |
Paul Butcher |
Senior Advisor |
Vice-President |
Media Relations |
Investor Relations |
(514) 249-4735media@cn.ca |
(514)
399-0052investor.relations@cn.ca |
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