Wabtec’s 2022 Sustainability Report Highlights Progress on Key Initiatives
February 21 2023 - 7:00AM
Business Wire
Wabtec Corporation (NYSE: WAB) released today its 2022
Sustainability Report highlighting the company’s progress on key
environmental, social, and governance (ESG) commitments. The
company is focused on creating a sustainable future through
innovative technologies, responsible operations, and empowering
people and communities.
“At Wabtec, we remain committed to be part of the solution and
to slow the speed of global climate change by taking action within
our own operations and bringing products to market that drive
sustainable value for our customers,” said Rafael Santana,
President and CEO of Wabtec.
The company is committed to expanding its ESG goals to ensure
they serve employees, customers, communities, and shareholders in
more sustainable ways. Wabtec strives to develop new, more
sustainable products and services across its portfolio to reduce
the impact on the environment. Demonstrating Wabtec’s focus on
continuous improvement, the sustainability report detailed key
commitments related to its climate action plan such as:
- Setting a new near-term absolute greenhouse gas (GHG) reduction
goal to reduce its Scope 1 and 2 GHG emissions by 50% by 2030, from
a baseline of 2019
- Committing to disclose Wabtec’s Scope 3 GHG emissions across
its full value chain this year
- Committing to set near-term targets next year for categories of
Scope 3 GHG emissions material to Wabtec
Wabtec took several actions to advance its ESG strategy and
goals, including:
- Joining the United Nations (UN) Global Compact, demonstrating
the company’s existing and ongoing commitment to the universal
sustainability principles promoted by the organization
- Partnering with industry to accelerate the development,
validation, and adoption of lower carbon fuels and alternative
clean energy technologies for the freight rail industry
- Joining Europe’s Rail Joint Undertaking (ERJU) as a founding
member; A follow-up to the Shift2Rail initiative, ERJU is a
partnership between Europe’s major railway stakeholders that aims
to create a more modern and sustainable European railway
system
- Reducing the greenhouse gas emissions intensity by 20% across
the company’s global operations
“Our greatest strength at Wabtec has always been our ability to
continuously transform our company to deliver game-changing,
sustainable innovations and solutions to our customers and the
world,” said Santana. “While the journey to a fully decarbonized
transportation future will take time, I am confident in the
strength of Wabtec’s innovation, global scale, and, most
importantly, our people. I know that we will lead our industry
forward, not by waiting for the future, but creating it.”
To download and read the full report, visit
www.wabteccorp.com/sustainability
About Wabtec Corporation
Wabtec Corporation is focused on creating transportation
solutions that move and improve the world. The company is a leading
global provider of equipment, systems, digital solutions and
value-added services for the freight and transit rail industries,
as well as the mining, marine and industrial markets. Wabtec has
been a leader in the rail industry for over 150 years and has a
vision to achieve a zero-emission rail system in the U.S. and
worldwide.
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version on businesswire.com: https://www.businesswire.com/news/home/20230221005296/en/
Wabtec Media Contact Tim Bader / tim.bader@wabtec.com /
682-319-7925
Wabtec Investor Contact Kristine Kubacki, CFA /
kristine.kubacki@wabtec.com / 412-450-2033
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