New CPKC Climate Commitment Announced

Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (“CPKC”) today announced its commitment to develop a greenhouse gas (GHG) emissions reduction target aligned with a 1.5°C future and supporting the global economy to achieve net-zero emissions by 2050.

With this commitment, made following the combination of Canadian Pacific (“CP”) and Kansas City Southern (“KCS”), CPKC joins the Science Based Targets initiative’s (“SBTi”) Business Ambition for 1.5°C global campaign, which includes alignment in supporting the global economy to achieve net-zero emissions by 2050.   

“This represents an important milestone in the sustainability journey for the new CPKC,” said Keith Creel, CPKC President and Chief Executive Officer. “It comes early in our integration and reaffirms our commitment to operating sustainably as we grow our business for the future. This new commitment builds on the foundational work addressing climate change already underway, including our industry-leading Hydrogen Locomotive Program.” 

While we work towards developing a 1.5°C aligned emissions reduction target, as an interim measure, CPKC has established a consolidated locomotive emissions reduction target using SBTi’s sectoral-based approach for freight railroads and a well-below 2^oC global warming scenario.

The consolidated target for CPKC, which has been recently validated by SBTi, is:     

• CPKC commits to reduce scope 1, 2, and 3 well-to-wheel locomotive GHG emissions 36.9 percent per gross ton-miles by 2030 from a 2020 base year.

This consolidated target replaces individual former CP and KCS targets to provide a single SBTi validated target while CPKC continues its ongoing integration work.

“The railroad industry has an important role to play as we transition to a less carbon intensive economy,” Creel added. “CPKC is proud to be playing a leading role as we work towards a more sustainable future for our customers, employees, and the communities we operate in and through.”

About CPKC

With its global headquarters in Calgary, Alta., Canada, CPKC is the first and only single-line transnational railway linking Canada, the United States and México, with unrivaled access to major ports from Vancouver to Atlantic Canada to the Gulf of México to Lázaro Cárdenas, México. Stretching approximately 20,000 route miles and employing 20,000 railroaders, CPKC provides North American customers unparalleled rail service and network reach to key markets across the continent. CPKC is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpkcr.com to learn more about the rail advantages of CPKC.

Source: Canadian Pacific Kansas City Limited