CN and Canadian Pacific (CP) have received leadership-level scores from global environmental non-profit CDP for their 2020 climate change actions and disclosures.
More than 5,800 companies were scored this year based on data reported through CDP’s questionnaire. Thousands of companies disclose at the request of investors and corporate buyers, according to the non-profit.
CN reported that it received an A for its “actions to cut emissions, mitigate climate risks and develop the low-carbon economy.”
“We are proud to be recognized by the CDP for the eleventh straight year,” CN President and CEO JJ Ruest said. “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 40%, avoiding over 46 million tonnes of GHG emissions. CN’s 2020 CDP response outlines our commitment to support the transition to a low-carbon future, complementing our ongoing discussions with investors and the work we do with our customers on the matter of climate change.”
CP, which received an A- from CDP, said the mark “represents a significant milestone in CP’s journey to integrate climate-related risks and opportunities into the company’s sustainability programs and reporting practices.”
Among CP’s submission highlights: releasing its first public statement on climate change, which supports the goals of the Paris Agreement and the Pan-Canadian Framework on Clean Growth and Climate Change; committing to establishing a science-based emissions reduction target; and conducting a comprehensive scenario analysis in 2020 to understand the climate change impacts to its business and to align with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD).
“We are proud to be recognized by CDP as a leader in taking action to confront climate change,” CP President and CEO Keith Creel said.
According to CP, it will “continue to build on this progress” in 2021. Among its initiatives: formalizing the integration of climate-related risks into the enterprise risk-management process and developing a strategy for mitigating risk.