CALGARY,
AB, Dec. 13, 2022 /CNW/ - Canadian Pacific
(TSX: CP) (NYSE: CP) today announced it has been named to CDP's A
List for the second consecutive year, placing the company in the
CDP leadership group of companies leading action on climate change
globally. With over 18,700 companies disclosing through CDP in
2022, CP is proud to be among the exclusive group of companies on
the A List recognized as global leaders.
The CDP score is based on CP's performance data in 2021, which
included enhanced disclosure on board-level oversight of
climate-related issues, the company's climate transition plan and
science-based greenhouse gas (GHG) emissions reduction targets.
"Being named to the A List once again is a significant
accomplishment that reflects our commitment to comprehensive
environmental disclosure," said Keith
Creel, CP's President and Chief Executive Officer. "We are
proud to be recognized by CDP as a leader in corporate
sustainability. We continue to build on the foundation we set in
2021 with the establishment of our climate strategy and GHG
emissions reduction targets."
Over the past year, CP's efforts to advance its climate strategy
included further embedding climate considerations in the business
through the application of an internal price on carbon and active
engagement of CP's Carbon Reduction Task Force in decision making.
CP's ongoing engagement with stakeholders on climate change
includes its recently released carbon emissions calculator, which
enables its customers to estimate GHG emissions of shipping their
freight by rail with CP.
CDP is an international nonprofit organization that annually
assesses organizations on environmental performance and
transparency. CP is a long-standing CDP participant, annually
disclosing on progress to strategically reduce GHG emissions across
its operations and value chain. Disclosure to CDP reflects CP's
commitment to transparency and complements the company's broader
reporting on its climate actions and efforts to support the
transition to a low-carbon economy.
On Dec. 12, CP announced it
was included in the Dow Jones Sustainability World Index (DJSI
World) for the first time and in the North America Index (DJSI
North America) for the third consecutive year.
For more information, visit sustainability.cpr.ca
Note on forward-looking information
This news release
includes certain forward-looking statements and forward looking
information (collectively, FLI). FLI is typically identified by
words such as "anticipate", "expect", "project", "estimate",
"seek", "forecast", "plan", "intend", "will", "target", "believe",
"likely" and similar words suggesting future outcomes or statements
regarding an outlook. All statements other than statements of
historical fact may be FLI.
This news release contains FLI relating, but not limited, to:
GHG emissions targets; sustainability principles and the UN
Sustainable Development Goals; the anticipated impacts of such
developments on CP's operations, priorities and plans, and certain
anticipated future strategies, plans and goals relating to
sustainability.
Although we believe that the FLI is reasonable based on the
information available today and processes used to prepare it, such
statements are not guarantees of future performance and you are
cautioned against placing undue reliance on FLI. We can provide no
assurance that CP's plans to maintain our sustainability
performance or reduce GHG 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, (j) physical impact
of climate change on our business (k) changes in carbon markets,
(l) evolving sustainability strategies and (m) scientific or
technological developments. 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.
By its nature, FLI involves a variety of assumptions, which are
based upon factors that may be difficult to predict and that may
involve known and unknown risks and uncertainties and other factors
which may cause actual results, levels of activity and achievements
to differ materially from those expressed or implied by these FLI,
including, but not limited to, the following: 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, nations and other third
parties to mitigate the impacts of climate change and reach global
climate change targets; the possibility of eliminating emissions
from freight train operations; North American and global economic
growth; commodity demand growth; agricultural production; commodity
prices and interest rates; the performance of CP's 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; sufficiency of CP's budgeted
capital expenditures in carrying out CP's business plan; the
satisfaction by third parties of their obligations to CP; the
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 FLI 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.
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.
Except to the extent required by law, we assume no obligation to
publicly update or revise any FLI, whether as a result of new
information, future events or otherwise. All FLI in this news
release is expressly qualified in its entirety by these cautionary
statements.
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