Canadian Pacific (CP) has released its first public statement on climate change, which acknowledges the effects of rising global temperatures and lays out CP’s commitment to mitigate the impacts as well as 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.
In support of this initiative, CP said it will establish “a science-based emissions reduction target to guide its climate action.”
“CP recognizes the importance of using energy efficiently and reducing the impact our operations have on the environment,” said Keith Creel, CP President and CEO. “Our company is committed to doing more, and through targeted investments in technology and innovation, we will continue to serve as an industry leader when it comes to sustainability. We will meet the climate change challenge with the same commitment to service and excellence the CP family brings to everything we do.”
CP’s other eco-friendly initiatives include the Task Force on Climate-related Financial Disclosures (TCFD), which saw CP “complete a detailed analysis of possible global warming scenarios to fully explore the range of potential climate change risks and opportunities facing the organization, now and into the future.”
In addition, since 1990, CP “has improved its locomotive fuel efficiency by more than 40% through many different initiatives and programs designed to improve fuel economy and reduce air emissions.”
CP has been a contributing participant to CDP (formerly the Carbon Disclosure Project) for more than a decade, “consistently disclosing annual emissions, progress made on practices to improve the management of greenhouse gas emissions and ongoing energy efficiency initiatives.”