CALGARY, AB, Oct. 28, 2021 /PRNewswire/ - Canadian Pacific
(TSX: CP) (NYSE: CP) today published its 2020 corporate
sustainability report highlighting the company's successes and
achievements on its journey to being sustainably driven. This
report provides an overview of CP's continued progress in three
sustainability areas of focus: operating safety, maintaining
operational excellence throughout the network, and managing the
social impact of CP's work.
"We are proud to publish this report, outlining the achievements
we have realized on our journey to be sustainably driven," said
Keith Creel, CP President and Chief
Executive Officer. "CP is continually looking for impactful ways to
incorporate sustainability into all aspects of our business and
maintain our position as a sustainability leader in the rail
industry."
Key sustainability achievements in the report include:
Safety
- CP finished 2020 with its lowest ever Federal Railroad
Administration (FRA)-reportable personal injury frequency rate.
Personal injuries were down 22 percent from 2019, with a frequency
rate of 1.11 per 200,000 employee-hours.
- CP led the North American Class 1 railroads in the lowest
FRA-reportable train accident frequency rate for the 15th
consecutive year in 2020.
- In 2020, CP invested $1.67
billion into the railway to further enhance network capacity
and improve performance and safety.
Operational Excellence
- CP established science-based greenhouse gas (GHG) emissions
reduction targets covering 100 percent of scope 1 and 2
emissions.
- As part of CP's Climate Strategy, CP continued to invest in
emissions reductions. For example, CP completed the installation of
a 5-megawatt solar energy farm at the Calgary headquarters and announced its
Hydrogen Locomotive Program to create North America's first line-haul hydrogen
locomotive prototype.
- In 2020, CP continued to reduce GHG emissions through fuel
efficiency measures, achieving a 44 percent improvement in
locomotive fleet fuel efficiency since 1990.
- CP made significant investments in innovation, including cold
wheel detection technology, broken rail detection and remote safety
inspections, to further improve network velocity, resiliency and
safety.
Social Impact
- In December 2020, CP celebrated
the CP Holiday Train virtually for the first time. As a result, CP
donated $1.24 million to more than
200 food banks in communities along its network that have benefited
from CP Holiday Train events previously.
- CP established three diversity councils focused on the topics
of racial, gender (including 2SLGBTQ+) and Indigenous
diversity.
- In 2020, CP donated US$1 million
to three charities dedicated to strengthening communities in
response to the social injustice and social unrest across the
U.S.
CP's actions and efforts to strengthen its sustainability
leadership were recognized this year by Corporate Knights
Magazine's Best 50 Corporate Citizens list and by
the World Finance Sustainability Awards 2020, which named the
company a sustainability leader in the transportation industry.
CP continues to follow best practices for disclosure and adapt
to evolving sustainability frameworks. CP's sustainability
disclosures are prepared in accordance with the Global Reporting
Initiative Standards and align closely with the Sustainability
Accounting Standards Board Rail Transportation Framework. In 2020,
CP expanded its sustainability disclosure to include reporting
aligned with the recommendations from the Task Force on
Climate-related Financial Disclosure and is reporting on its
contributions towards the United Nations Sustainable Development
Goals.
The 2020 report is available online through CP's Sustainably
Driven website.
About Canadian Pacific
Canadian Pacific is a
transcontinental railway in Canada
and the United States with direct
links to major ports on the west and east coasts. CP provides North
American customers a competitive rail service with access to key
markets in every corner of the globe. CP is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise. Visit cpr.ca to see
the rail advantages of CP. CP-IR
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SOURCE Canadian Pacific