CALGARY, AB, Nov. 15, 2021 /CNW/ - Canadian Pacific (TSX: CP)
(NYSE: CP) is proud to announce that it has been named to the Dow
Jones Sustainability North America Index (DJSI North America) for
2021. This marks the second consecutive year CP has been listed on
the DJSI North America.
The index comprises sustainability leaders representing the top
20 percent of the largest 600 North American companies evaluated by
S&P Global, selected from a record number of participants in
2021. Performance is measured through the Corporate Sustainability
Assessment, a comprehensive evaluation of economic, environmental
and social criteria.
"We are proud that DJSI is recognizing CP's commitment to being
a sustainability leader in the transportation sector," said
Keith Creel, CP President and Chief
Executive Officer. "We continually look for innovative, impactful
ways to advance our objectives and to embed sustainability in all
levels of our organization."
CP's continued inclusion on the index results from a long-term
organizational commitment to continuous improvement and reporting
sustainability practices and performance. The company recently
released its 2020 corporate sustainability report highlighting
its successes and achievements toward being a sustainably driven
railroad. This report expands on CP's prior sustainability
disclosures, including content aligned with the recommendations
from the Task Force on Climate-related Financial Disclosure and
highlighting CP's support for the United Nations Sustainable
Development Goals.
As part of the company's commitment to sustainability
leadership, CP published its first Climate Strategy, which
charts a path to reduce greenhouse gas (GHG) emissions and adapt
railroad operations to the physical risks of climate change. The
Climate Strategy establishes ambitious science-based emissions
reduction targets, supported by meaningful actions to reduce GHG
emissions, including installing a large solar farm at CP's
Calgary headquarters and expanding
the Hydrogen Locomotive Program. CP 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.
For more information about CP's sustainability initiatives,
visit sustainability.cpr.ca.
Note on forward-looking information
This news release contains certain forward-looking information
and forward-looking statements (collectively, "forward-looking
information") within the meaning of applicable securities laws.
Forward-looking information includes, but is not limited to,
statements concerning expectations, beliefs, plans, goals,
objectives, assumptions and statements about possible future
events, conditions, and results of operations or performance.
Forward-looking information may contain statements with words or
headings such as "will", "anticipate", "believe", "expect", "plan",
"should", "commit" or similar words suggesting future outcomes.
This news release contains forward-looking information relating,
but not limited, to, energy transition, demand shifts, the future
of the rail and transportation industries, changes in environmental
conditions and risks associated with climate change, market
impacts, regulatory and policy changes, the anticipated timing and
successful completion of CP's planned development of a
hydrogen-powered locomotive, CP's operations, priorities and plans
for the establishment and achievement of certain environmental and
sustainability targets for reductions in GHG emissions and
related matters.
The forward-looking information contained in this news release
is based on current expectations, estimates, projections and
assumptions, having regard to CP's experience and its perception of
historical trends, and includes, but is not limited to,
expectations, estimates, projections and assumptions relating to:
the fuel efficiency of railways and CP's operations; CP's ability
to implement certain initiatives, including emissions targets,
scenario analyses, risk mitigation strategies, changes to
enterprise risk management and internal carbon pricing mechanisms;
future investments in and the availability of carbon
emissions-reduction tools and technologies including through CP's
fleet modernization program and technology upgrades; the impacts of
existing and planned capital investments; CP's ability to work with
governments and third parties to mitigate the impacts of climate
change; North American and global economic growth; commodity demand
growth; agricultural production; commodity prices and interest
rates; performance of our assets and equipment; applicable laws,
regulations and government policies; the availability and cost of
labour on the timelines anticipated and with the capabilities
required, as well as the availability and cost of services and
infrastructure; the satisfaction by third parties of their
obligations to CP; the anticipated impacts of the novel strain of
coronavirus (and the disease known as COVID-19); and capital
investments by third parties. Although CP believes the
expectations, estimates, projections and assumptions reflected in
the forward-looking information presented herein are reasonable as
of the date hereof, there can be no assurance that they will prove
to be correct. Current conditions, economic and otherwise, render
assumptions, although reasonable when made, subject to greater
uncertainty.
Specifically with respect to greenhouse gas emissions, we can
provide no assurance that CP's plans to reduce greenhouse gas
emissions per our commitments and aspirations will be viable or
successful. The primary risks associated with achieving these
commitments could include but are not limited to (a) future
investments in and the availability of carbon emissions-reduction
tools and technologies, (b) CP's ability to work with governments
and third parties to mitigate the impacts of climate change, (c)
domestic and international economic conditions, including exchange
rates, (d) the effects of competition and regulation, (e)
uncertainties in the financial markets, (f) capital spending, (g)
actions of vendors, (h) the willingness of customers to acquire our
services, (i) cost of network expansion, maintenance and retrofits,
and (j) physical impact of climate change on our business. The
commitments are subject to the successful implementation of the
actions and plans outlined in the Climate Strategy as well as the
accuracy of the assumptions in the science-based methodology used
to calculate these targets.
Undue reliance should not be placed on forward-looking
information as actual results may differ materially from those
expressed or implied by forward-looking information. By its nature,
CP's forward-looking information involves inherent risks and
uncertainties that could cause actual results to differ materially
from the forward looking information, including, but not limited
to, the following factors: changes in business strategies; general
North American and global economic, credit and business conditions;
risks associated with agricultural production, such as weather
conditions and insect populations; the availability and price of
energy commodities; the effects of competition and pricing
pressures, including competition from other rail carriers; industry
capacity; shifts in market demand; changes in commodity prices;
uncertainty surrounding timing and volumes of commodities being
shipped; inflation; geopolitical stability; changes in laws,
regulations and government policies, including regulation of rates;
changes in taxes and tax rates; potential increases in maintenance
and operating costs; changes in fuel prices; disruption in fuel
supplies; uncertainties of investigations, proceedings or other
types of claims and litigation; labour disputes; changes in labour
costs and labour difficulties; risks and liabilities arising from
derailments; transportation of dangerous goods; timing of
completion of capital and maintenance projects; currency and
interest rate fluctuations; exchange rates; effects of changes in
market conditions and discount rates on the financial position of
pension plans and investments; trade restrictions or other changes
to international trade arrangements; the effects of current and
future multinational trade agreements on the level of trade among
Canada and the U.S.; climate
change and the market and regulatory responses to climate changes;
ability to achieve commitments and aspirations relating to reducing
greenhouse gas emissions and other climate-related objectives;
anticipated in-service dates; success of hedging activities;
operational performance and reliability; regulatory and legislative
decisions and actions; public opinion; various events that could
disrupt operations, including severe weather, such as droughts,
floods, avalanches and earthquakes, and cybersecurity attacks, as
well as security threats and governmental response to them, and
technological changes; acts of terrorism, war or other acts of
violence or crime or risk of such activities; insurance coverage
limitations; material adverse changes in economic and industry
conditions, including the availability of short and long-term
financing; the pandemic created by the outbreak of COVID-19 and
resulting effects on economic conditions, the demand environment
for logistics requirements and energy prices, restrictions imposed
by public health authorities or governments, fiscal and monetary
policy responses by governments and financial institutions, and
disruptions to global supply chains. The foregoing list of
factors is not exhaustive. These and other factors are detailed
from time to time in reports filed by CP with securities regulators
in Canada and the United States. Reference should be made to
"Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations - Forward-Looking
Statements" in CP's annual and interim reports on Form 10-K and
10-Q.
The forward-looking information contained in this news release
is made as of the date hereof. Except as required by law, CP
undertakes no obligation to update publicly or otherwise revise any
forward-looking information, or the foregoing assumptions and risks
affecting such forward-looking information, whether as a result of
new information, future events or otherwise.
About Canadian Pacific
Canadian Pacific is a
transcontinental railway in Canada
and the United States with direct
links to major ports on the west and east coasts. CP provides North
American customers a competitive rail service with access to key
markets in every corner of the globe. CP is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise. Visit cpr.ca to see
the rail advantages of CP. CP-IR
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SOURCE Canadian Pacific