Canadian Pacific and CN have been added to the 2020 Dow Jones Sustainability Index (DJSI) North America. CN is also listed on the 2020 DJSI World.
The DJSI follows a “best-in-class approach,” surveying sustainability leaders from each industry on a global and regional level. The annual review of the DJSI family of indices “is based on a thorough analysis of economic, environmental and social performance,” CN noted. Corporate governance, risk management, climate change mitigation, supply chain management, stakeholder engagement and labor practices are assessed.
“CP is always working to develop innovative, impactful ways to enhance the communities we serve and protect the environment,” President and CEO Keith Creel said. “We have been a part of the North American landscape since 1881, and our commitment to people, the planet, safety and ethics is unwavering. I am proud that the DJSI has recognized the hard work and commitment of the entire CP family.”
In July, CP released its first climate change statement, which “acknowledges the effects of rising global temperatures and lays out [our] commitment to ongoing efforts to mitigate the impacts.” It also “supports the goals of the Paris Agreement and the Pan-Canadian Framework on Clean Growth and Climate Change, which seek to limit global temperature rise to well below 2°C above pre-industrial levels.”
Since 1990, CP’s locomotive fuel efficiency has improved by more than 40% “through many different initiatives and programs designed to improve fuel economy and reduce air emissions.”
CN has again earned a place on both the DJSI World Index (ninth consecutive year) and the DJSI North America Index (12th consecutive year).
“At CN, our people have been committed to sustainable business practices for many years, we call it Delivering Responsibly, and in 2017, we became the first [Class I] freight railroad in the world to set a science-based climate target,” President and CEO JJ Ruest said. “The company believes rail has tremendous potential to reduce the environmental impact of transportation, and we are committed to playing a key role in the transition to a low-carbon economy. As we continue our journey towards sustainable business growth, we are committed to achieving our ESG goals, which support the Company’s strategic ESG priorities.”
Among CN’s goals are to achieve its climate change science-based target of 29% GHG intensity improvement by 2030, and an interim 6% intensity-based reduction in GHG emissions by 2022, and to reduce its Criteria Air Contaminants intensity by 6% by 2022.
DJSI North America comprises sustainability leaders representing the top 20% of the largest 600 North American companies in the S&P Global Broad Market Index (BMI). DJSI World includes sustainability leaders that represent the top 10% of the largest 2,500 companies in the S&P Global BMI. Launched in 1999, DJSI World is described as Dow Jones as “the gold standard for corporate sustainability and is the first global index to track the leading sustainability-driven companies based on RobecoSAM’s analysis of financially material Environmental, Social, and Governance (ESG) factors and S&P Dow Jones Indices robust index methodology.”