CP Releases Sustainability Report

Written by Andrew Corselli, Managing Editor
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CP recently released Sustainably Driven, its 2018 corporate sustainability report and new framework for sustainability reporting, highlighting the company's successes and achievements in the areas of safety, operational excellence and social impact.

Developed based on “a comprehensive stakeholder materiality assessment conducted by CP in 2018, Sustainably Driven articulates the company’s commitment to aligning business practices with clear sustainability goals and objectives.”

Key sustainability achievements highlighted in the report include:

Safety

  • In 2018, CP continued to lead as North America’s safest Class I railway with the lowest Federal Railroad Administration (FRA) reportable train accident frequency, for the 13th consecutive year.
  • CP achieved an 11% decrease in 2018 FRA-reportable employee personal injuries, compared to 2017.

Operational Excellence

  • CP posted record revenues of $7.3 billion and recorded its lowest yearly operating ratio of 61.3%, at year-end 2018.
  • CP reduced fuel consumption and emissions, achieving its highest fuel efficiency to date, at year-end 2018; 16.4% lower than the North American Class I freight railway average. Since 1990, CP has improved fuel efficiency by 43%.
  • CP invested approximately $7 million in wastewater infrastructure capital over the course of 2018 to improve operational efficiencies, including commissioning two new industrial wastewater treatment plants constructed in Montreal and Winnipeg.

Social

  • CP celebrated the 20th anniversary of the CP Holiday Train. In 2018, the program raised more than $1.6 million and helped collect over 250,000 pounds of food for food banks across Canada and the U.S.
  • In 2019, CP became the first Class I railway in North America to appoint a woman as chair of its Board of Directors.
  • Since 2017, CP has raised approximately $834,000 in support of the Homes for Heroes Foundation and its initiative of building homes for homeless veterans, through CP’s annual Spin for a Veteran event. In 2019 alone, Spin for a Veteran raised more than $530,000.

Sustainably Driven can be found in its entirety here.

Sustainably Driven further solidifies our commitment to incorporating sustainability in all aspects of our business,” said Keith Creel, CP President and CEO. “As part of this transformational journey, we will continue to actively manage the carbon footprint associated with our operations and govern our business in a transparent, ethical and accountable manner, to the benefit of all our stakeholders.”

Categories: Class I, Freight, Intermodal, News Tags: , ,