The Greenbrier Companies, Inc. on Nov. 2 published its third-annual Environmental, Social and Governance (ESG) report.
The 58-page report was prepared in accordance with the Sustainability Accounting Standards Board (SASB) framework for the second consecutive year, according to Greenbrier. It outlines the freight car manufacturer’s 2020-21 initiatives in five areas: safety, people, environmental sustainability, governance and ethics, and communities.
Among the report highlights:
• Completing a materiality assessment with perspectives from internal and external stakeholders to determine the most relevant topics to address in the ESG program.
• Incorporating the United Nation’s Sustainable Development Goals (SDGs) targets specific to Greenbrier’s ESG approach.
• Achieving four consecutive years of improved safety results, including a company record-breaking safety performance in fiscal 2021.
• Increasing recycled steel content from 47% in 2020 to 51% in 2021. Growing recycled steel content is an identified focus area in the company’s ESG strategy.
• Hosting 93 interviews with Greenbrier leaders to establish internal alignment and prioritize IDEAL (Inclusion, Diversity, Equity, Access and Leadership) actions. According to Greenbrier, these conversations allowed employees to share their views on workplace diversity and inclusion and discuss areas for Greenbrier improvement.
• Meeting all goals in the company’s 2020 ESG report with 2021 deadlines.
“Through an incredibly difficult year, Greenbrier’s employees and operations exhibited resiliency, including moving our ESG strategy ahead, enhancing efficiencies across global operations and streamlining our data collection methodology,” Co-founder, Chairman and CEO William A. Furman said.
“Greenbrier continually looks for ways to optimize the environmental efficiency of freight transportation products and deliver services more efficiently,” said President and Chief Operating Officer Lorie Tekorius, who will become company’s next CEO and President on March 1, 2022, succeeding Furman as leader. “Our success today and in the future requires balancing our ESG focus areas with business performance that meets the needs of customers, shareholder and employees.”
(As announced in July 2020, Furman will retire from all executive offices in September 2022. His current Board term continues until January 2024.)