CN, CSX And CP Achieve Climate Change Leadership Status - Canadian National Railway (NYSE:CNI), Canadian

Railways CN (NYSE:CNI), CSX (NASDAQ:CSX) and Canadian Pacific (NYSE:CP) made it to the Carbon Disclosure Project's (CDP) leadership level for climate change on Tuesday.

Only 5% of the more than 5,800 companies scored by the CDP joined CSX and CN on the A List for climate. With scores ranging from A to F, Canadian Pacific (CP) received an A-minus climate rating from the CDP.

The CDP annually scores companies that disclose environmental data related to the climate, deforestation and water scarcity. CDP said the benefits of disclosing the data include protecting company reputation, gaining a competitive advantage and benchmarking progress.

CSX announced it ranked at the top for U.S.-based Class I railroads this year. The company said it's the eighth straight year CDP has given CSX leadership status. CSX has a goal to reduce greenhouse gas (GHG) emissions intensity by 37.3% by 2030 based on 2014 levels, according to its 2019 environmental, social and governance (ESG) report.

In a press release, CN President and CEO JJ Ruest said the company is honored to be recognized by the CDP for the 11th consecutive year. CN's latest CDP report says it is committed to reducing GHG emissions intensity by 29% by 2030, using 2015 as a baseline. The report says CN has already reduced its locomotive GHG emissions intensity by 40% since 1993.

A CP release said the railway is proud to be a leader in climate action and that it is committed to meeting a science-based emissions reduction target. CP's goal to reduce GHG emissions intensity by 6% from 2018 to 2022 using 2017 as a baseline is available in the company's 2019 CDP submission.

None of the three railways disclosed environmental information on their impacts on water scarcity or forests to the CDP in 2020. Find out how all companies that disclosed information to the CDP scored here.

Dexter Galvin, CDP global director of corporations and supply chains, congratulated the A-listers saying, "Through their action and transparency, they are getting ahead of the pack and will seize the benefits as we transition to a net-zero sustainable economy."
The CDP reported more than 9,600 companies disclosed data this year, a 14% increase since last year despite the COVID-19 pandemic. The CDP said that the A List has grown by 45% since last year, indicating a growth in environmental awareness among corporations.

Click here for more FreightWaves articles by Alyssa Sporrer.

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