CN Signs the “Business Ambition for 1.5°C” and Joins the “Race To Zero” Campaign
November 12 2021 - 07:30AM
CN (TSX: CNR) (NYSE: CNI) is proud to announce its commitment to
setting a target in line with a 1.5°C scenario and to achieving
net-zero carbon emissions by 2050. By doing so, CN is the first
North American railroad to formally commit to having a net-zero
target by joining the Business Ambition for 1.5°C and the United
Nations’ Race To Zero campaign.
After announcing important partnerships related
to renewable fuels testing and the purchase of a battery-electric
locomotive for a joint pilot last week, the Company continues to
take meaningful steps towards reducing overall emissions and
minimizing the impact of its operations.
“As a world-class transportation leader and
trade-enabler, CN handles over C$250 billion worth of goods and
carries more than 300 million tons of cargo annually, and is proud
to be moving all these products in a sustainable way. CN’s pledge
to net-zero carbon emissions by 2050 further builds upon our
commitment to short-, medium- and long-term targets, robust and
transparent climate change disclosures, and our goal to continue to
lead our sector in the transition to a low-carbon economy. CN has a
strong track record of fuel and carbon efficiency and, in 2020,
achieved its best locomotive fuel efficiency ever – over 4% better
than the previous record set in 2019 – which avoided approximately
275,000 tonnes of emissions. We will continue to decarbonize our
operations and, in turn, will enable our customers to reduce their
transportation supply chain emissions and support their and our
growth in sustainable products and markets.”
- Jean-Jacques
Ruest, President and Chief Executive Officer
CN has been recognized as a leader in
sustainability in the North American rail industry and has been a
pioneer in the transition to a low-carbon economy, offering
carbon-efficient transportation solutions to its customers. Since
1993, the Company has reduced its rail locomotive greenhouse gas
(GHG) emissions intensity by 43%, thereby avoiding over 48 million
tonnes of emissions. To this day, CN continues to lead the North
American rail industry, consuming approximately 15% less locomotive
fuel per gross ton-mile than the industry average.
“Sustainability is at the heart of how we
conduct our business every day and defines our contribution to
building a more sustainable future. CN recognizes the importance of
collaborating with suppliers, governments, supply chain partners,
academics, and cleantech providers in achieving an effective
transition to net-zero emissions by 2050.”
- Janet Drysdale, Vice-President,
Sustainability
In 2017, CN was amongst the first hundred
companies globally to set an approved science-based target, and in
2021 it restated that target to reflect an increased level of
ambition. CN recognizes the importance of mitigating and adapting
its business to changing climate conditions. The Company’s Climate
Action Plan and pledge to net zero both support the Paris
Agreement.
In April 2021, the Science Based Targets
initiative (SBTi) approved CN’s commitment to reduce scope 1 and 2
GHG emissions by 43% per million gross ton miles
by 2030 from a 2019 base year, and to reduce scope 3 GHG emissions
from fuel- and energy-related activities by 40% per million gross
ton miles by 2030 from a 2019 base year. CN’s Climate Action Plan
and 2030 target are focused on five key initiatives: investing in
locomotive fleet renewals, increasing the use of fuel-efficient
technologies, leveraging big data analytics, enhancing our
operating practices, and expanding the use of cleaner fuels.
The Company has publicly reported its GHG
emissions, climate change strategy, and year-over-year progress
annually since 2009 through its CDP reports. CN’s Climate Action
Plan and annual sustainability disclosures are aligned with
rigorous international standards, such as the Global Reporting
Initiative (GRI), the Sustainability Accounting Standards Board
(SASB), the Greenhouse Gas Protocol, and the Task Force on
Climate-related Financial Disclosures (TCFD). Further, CN releases
its Delivering Responsibly sustainability report biennially. In
2020, the Company’s actions to reduce emissions, mitigate climate
risks and to develop the low-carbon economy resulted in CN being
one of only three Canadian companies listed on CDP’s prestigious
Climate Change A List.
To learn more about how CN is working to build
an environmentally sustainable future, please visit
https://www.cn.ca/en/delivering-responsibly/environment/
To learn more about how CN has been recognizing
and collaborating with customers and supply chain partners through
the EcoConnexions Partnership Program since 2014, visit
https://www.cn.ca/en/delivering-responsibly/environment/ecoconnexions-programs/
About CNCN is a world-class
transportation leader and trade-enabler. Essential to the economy,
to the customers, and to the communities it serves, CN safely
transports more than 300 million tons of natural resources,
manufactured products, and finished goods throughout North America
every year. As the only railroad connecting Canada’s Eastern and
Western coasts with the U.S. South through a 19,500-mile rail
network, CN and its affiliates have been contributing to community
prosperity and sustainable trade since 1919. CN is committed to
programs supporting social responsibility and environmental
stewardship.
To align with the most ambitious aim of the
Paris Agreement and to what science dictates is necessary to reduce
the destructive impact of climate change on human society and
nature – to reach net-zero global emissions by 2050 at the latest
in order to limit global warming to 1.5°C – CN is committing to set
a long-term science-based target to reach net-zero value chain GHG
emissions by no later than 2050 in line with the SBTi Net-Zero
Standard, submit it for SBTi validation and publish it, all within
a maximum of 24 months.
About the SBTiSBTi is a
collaboration between CDP, the United Nations Global Compact, World
Resources Institute and the World Wide Fund for Nature that defines
and promotes best practice in science-based target setting and
independently assesses companies’ targets. For more information,
please refer to their website:
https://sciencebasedtargets.org/.
Contacts:
Media
Canada Mathieu Gaudreault CN Media Relations
514-249-4735 Media@cn.ca |
Investment
Community Paul Butcher Vice-President Investor Relations
514-399-0052 investor.relations@cn.ca |
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