12/08/2021 | Press release | Distributed by Public on 12/08/2021 13:14
Norfolk Southern (NYSE: NSC) has been awarded an A- climate change rating by CDP, the leading carbon disclosure system for the global business community. The rating places Norfolk Southern in CDP's highest rated tier, the Leadership Level.
The achievement was largely driven by Norfolk Southern's pursuit of a science-based emissions reduction target for efficiency, targeting a 42% reduction by 2034 from 2019, announced earlier this year. The company made a 7% reduction in carbon emissions intensity in 2020 alone. Additionally, the company's ongoing participation in forest carbon projects and efforts to source clean energy for Norfolk Southern facilities also played a critical role. Looking to the future, Norfolk Southern is driving toward further locomotive fuel efficiency and increasing the use of biofuels.
"Reducing our carbon footprint is central to how we operate our company - it's good business and good for the planet," said Norfolk Southern chief sustainability officer, Josh Raglin. "Whether that's through more efficient locomotives or setting aggressive goals for ourselves, we aim to make the most environmentally friendly way to move freight over land even more sustainable. Importantly, our efforts also have a positive impact on the carbon footprint of our customer's supply chain operations."
Rail is one of the most sustainable ways to move the goods that power our economy, moving 45% of the long-distance freight in the U.S. but producing only 7% of all freight-related emissions. Norfolk Southern has adopted technologies and smart operating practices that have improved the fuel efficiency of its locomotive fleet, which accounts for the vast majority of its emissions The company improved locomotive fuel efficiency by 5% in 2020 and has improved by an additional 3% year to date.
CDP is a non-profit organization that administers the most widely used carbon disclosure ratings across the world. Norfolk Southern was among the first companies to begin voluntary reporting its greenhouse gas emissions in 2009.
More information on the company's various sustainability initiatives can be found at http://www.norfolksouthern.com/betterplanet.
About the CDP
CDP is a global non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the hundreds of cities, states and regions who have disclosed, making CDP's platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Visit https://cdp.net/en or follow us @CDP to find out more.
About Norfolk Southern
Norfolk Southern Corporation (NYSE: NSC) is one of the nation's premier transportation companies, moving the goods and materials that drive the U.S. economy. Norfolk Southern connects customers to markets and communities to economic opportunity, with safe, reliable, and cost-effective shipping solutions. The company's service area includes 22 states and the District of Columbia, every major container port in the eastern United States, and a majority of the U.S. population and manufacturing base.
Norfolk Southern Media Inquiries:
Media Relations, 404-420-4444
Meghan Achimasi, 470-867-4807