CN's Commitment to Sustainability: Highlights from the 2024 Report
CN's Pioneering Approach to Sustainability
In recent announcements, CN (TSX: CNR) (NYSE: CNI) has showcased its unwavering commitment to sustainability through the unveiling of its 2024 Sustainability Data Supplement. This report is a testament to CN's dedication to responsible operations and its strategic vision for a more sustainable future, which is integral to its everyday business. It's not merely about meeting today's standards but actively contributing to environmental stewardship for generations to come.
Commitment Recognized Year After Year
For the seventeenth consecutive year, CN has earned a place on the Corporate Knights Best 50 Corporate Citizens list, underscoring its consistent performance in sustainability efforts within the corporate sector. This recognition reflects not just accolade but a core value imbued in CN's operations.
In the Words of Leadership
"At CN, sustainability isn’t a separate track — it’s part of how we run the railroad. From reducing emissions to investing in innovation, we’re taking clear, measurable steps that matter. Our progress is driven by the dedication of our railroaders and our ongoing commitment to delivering for our customers, communities, and future generations," shares Tracy Robinson, President and Chief Executive Officer at CN.
Key Highlights from the 2024 Sustainability Report
CN's recent report outlines impressive advancements as it works towards fulfilling its sustainability goals. Here are some significant highlights to take note of:
- Climate Action: The sustainability report reveals that CN has successfully reduced its total absolute Scope 1, 2, and 3 greenhouse gas emissions by around 4% compared to the previous year. As part of its science-based targets, CN has achieved a 27% reduction towards its goal for Scope 1 and 2 emissions by 2030.
- Improved Safety Standards: Operational safety has seen a marked improvement, showcasing a nearly 8% reduction in the overall accident rate. Nevertheless, challenges remain, as the personal injury frequency rate has increased by 8%, indicating areas where further dedication is needed.
- Indigenous Reconciliation: CN has made strides towards reconciliation with the launch of its inaugural Indigenous Reconciliation Action Plan (IRAP), comprising 16 measurable commitments aimed at promoting reconciliation in Canada over the next three years.
- Economic Contributions: With a workforce of approximately 25,000 employees across Canada and the United States, CN reported a substantial distribution of over $15 billion in direct economic value. In line with its forward-thinking approach, the company made capital investments amounting to around $3.5 billion.
With these measures in place, CN is sculpting a roadmap for a sustainable future, one where not only customer goods are transported safely and efficiently, but also where environmental responsibility is observed, and strong communities are built.
Recognition as a Top Corporate Citizen
CN is honored to be part of the prestigious Best 50 Corporate Citizens list, a key annual ranking acknowledging corporate sustainability efforts in Canada. This acknowledgment is achieved through a rigorous process where Corporate Knights assessed 344 large Canadian organizations against a blend of industry peers based on 25 quantitative key performance indicators. These indicators reflect robust practices in resource and employee management, financial stewardship, sustainability in revenue, and effective supplier performance.
About CN
With a rich history dating back to 1919, CN is more than just a freight transportation company; it plays a vital role in powering the economy. By safely transporting over 300 million tons of natural resources, manufactured products, and finished goods across a vast network of nearly 20,000 miles, CN connects essential markets in North America, thus enhancing sustainable trade and contributing significantly to the well-being of various communities.
Contacts
Media Contact:
Ashley Michnowski
Senior Manager, Media Relations
(438) 596-4329
media@cn.ca
Investment Community Contact:
Stacy Alderson
Assistant Vice-President, Investor Relations
(514) 399-0052
investor.relations@cn.ca
Frequently Asked Questions
What is the main focus of CN's 2024 Sustainability Report?
The report highlights CN's progress towards reducing emissions, enhancing safety, and fostering community relations through its sustainability initiatives.
How does CN plan to achieve its sustainability goals?
CN follows a strategic approach focusing on measurable steps, including climate action and community engagement, to meet its long-term sustainability goals.
What improvements in safety standards has CN achieved?
CN noted an overall reduction in the accident rate by nearly 8%, showcasing progress in operational safety while recognizing the need to address rising personal injury rates.
How does the Corporate Knights ranking influence CN?
The ranking affirms CN's consistent commitment to sustainability and fosters accountability in its corporate citizenship practices within the industry.
What are the economic contributions of CN?
In 2024, CN reported over $15 billion in direct economic value distributed across North America along with significant capital investments reflecting its operational scale.
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