Greenbrier's Commitment to Sustainability in 2024
The Company's first interim data refresh report
External recognitions support sustainability performance
The Greenbrier Companies, Inc. (NYSE: GBX) has recently released its 2024 Sustainability Update titled On Track Together. This interim report presents valuable insights into the company’s progress and efforts on key sustainability issues across various domains including Safety & Quality, People, Environmental Sustainability, Governance & Ethics, and Community Engagement.
This year's report highlights Greenbrier's dedication to sustainability, emphasizing their initiatives and achievements in renewable energy usage, waste reduction, and community contributions. The company has documented its continuous improvements and aims to inspire others in this crucial endeavor.
Key Highlights from the Sustainability Update
Some remarkable highlights from On Track Together include:
- Greenbrier successfully reclaimed, reused, or recycled 25,000 tons of materials as part of its railcar restoration initiatives.
- In a recent employee survey, an impressive global response rate of 94% was achieved, showcasing strong employee engagement and feedback.
- Through charitable efforts, Greenbrier donated nearly $800,000 to local communities, underscoring their commitment to social responsibility.
- The company increased its usage of recycled steel in new railcar manufacturing to a significant 56%.
- Greenbrier conducted scenario planning to evaluate its preparedness for different climate-related situations, further underlining its focus on sustainability.
- An advanced automated risk management system was introduced to ensure compliance with international laws and regulations by customers and suppliers.
- In fiscal 2024, 35% of Greenbrier's electricity consumption in the U.S. came from renewable sources, highlighting their move towards cleaner energy.
- Greenbrier was proudly recognized with multiple awards for its sustainability practices from notable customers and industry stakeholders.
Leadership Views on Sustainability
Lorie Tekorius, Greenbrier's CEO and president, expressed pride in the company's sustainability priorities, stating, "We strive to place our team at the heart of everything we do, focusing on continuous improvements that create value for our customers and communities." This leadership perspective reflects a deeper commitment to fostering a culture of sustainability within the organization.
Framework for Sustainability Reporting
The report is structured following the Sustainability Accounting Standards Board (SASB) framework and aligns with relevant United Nations Sustainable Development Goals (UN SDGs). As part of its commitment to transparency, Greenbrier has previously tracked its progress according to the Taskforce on Climate-Related Financial Disclosures (TCFD). With the dissolution of TCFD in 2024, the company is transitioning to the International Sustainability Standards Board's (ISSB) guidelines for sustainability-related financial disclosures.
About Greenbrier
Headquartered in Oregon, Greenbrier stands as a leading provider of services and equipment in global freight transportation. The company designs and manufactures freight railcars across North America, Europe, and Brazil, and offers crucial wheel services, component parts, and maintenance support.
Greenbrier's operations include a lease fleet of approximately 15,500 railcars, primarily sourced from their own manufacturing units. The company provides regulatory compliance and railcar management services to railroad operators and other railcar owners throughout North America. To learn more about Greenbrier, visit their official website.
Frequently Asked Questions
What is the focus of Greenbrier's 2024 Sustainability Update?
The focus of the update is on key sustainability issues including environmental practices, employee engagement, community contributions, and safety standards.
How much of Greenbrier's electricity usage comes from renewable sources?
For fiscal 2024, approximately 35% of Greenbrier's electricity usage in the U.S. came from renewable sources.
What notable feedback did Greenbrier receive from employees?
The company achieved a global employee survey response rate of 94%, highlighting strong engagement and areas for potential improvement.
What has Greenbrier done to support local communities?
Greenbrier donated nearly $800,000 through charitable efforts to support local communities, reinforcing their commitment to social responsibility.
How does Greenbrier ensure compliance with regulations?
An automated risk management system has been implemented to monitor compliance with international laws and regulations for customer and supplier relations.
