Canadian Pacific Railway Limited (CP) announced today the release of the company’s first statement on climate change, acknowledging the effects of rising global temperatures. The company has committed to pursue efforts to mitigate the impacts of climate change, and to set science-based targets for its GHG emissions reduction goals.
In its statement, CP stated that the company supports the goals of the Paris Agreement and the Pan-Canadian Framework on Clean Growth and Climate Change, which seek to limit global temperature rise to well below 2°C above pre-industrial levels.
Keith Creel, CP President and Chief Executive Officer, said:
“CP recognizes the importance of using energy efficiently and reducing the impact our operations have on the environment. Our company is committed to doing more, and through targeted investments in technology and innovation, we will continue to serve as an industry leader when it comes to sustainability. We will meet the climate change challenge with the same commitment to service and excellence the CP family brings to everything we do.”
CP’s sustainability efforts include the adoption of standards including the Task Force on Climate-related Financial Disclosures (TCFD). CP stated that through utilizing a framework supported by TCFD, the company has completed a detailed analysis of possible global warming scenarios, exploring a range of potential climate change risks and opportunities facing the organization, now and into the future. The company will integrate climate-related risks into its enterprise risk-management mechanisms and continue to develop strategies for mitigation and adaptation.