Saturday, September 15, 2012

Rail Freight and Logistics Operator Shows Others a Clean Pair of Environmental Heels

CSX Rewarded for Openness on CO2 Production
Shipping News Feature

US – Rail freight and intermodal group, CSX Corporation has announced that once again the company has earned recognition for its ongoing efforts to protect the environment by appearing on the CDP Global 500 Carbon Disclosure Leadership Index and also earned a place on the Carbon Disclosure Project (CDP) and the S&P 500 Disclosure Index (CDLI). CSX maintains its own social responsibility website to self police its performance and these leadership indices recognise companies that display a strong commitment to climate change information disclosure. Michael J. Ward, chairman, president and CEO of CSX said:

"Environmental stewardship and transparency continue to be top priorities for CSX. This honour is evidence of CSX's continued recognition that environmentally responsible operations are good for our customers, for our communities, and for our shareholders.”

CSX is the only railroad listed on either disclosure index and its score of 95 was the fourth-highest on the 53-company S&P 500 CDLI and second-highest for S&P industrial companies. The score also placed the company fourth among all global industrial companies. CSX's score was based on the company's responses to CDP's questionnaire, which focuses on greenhouse gas emissions, emissions reduction targets and the risks and opportunities associated with climate change. The CDP represents 655 institutional investors with $78 trillion in assets. Paul Simpson, CEO of CDP said:

"Companies that make the Carbon Disclosure Leadership Index have demonstrated strong internal data management practices for the measurement of greenhouse gas emissions and energy use. They are also giving clear consideration to the business issues related to climate change and their exposure to climate-related risks and opportunities. This is vital to realizing greater efficiencies, protecting the business from risk and capitalizing on opportunities."

This year, CSX committed to reducing greenhouse gas emissions intensity by 6 to 8% by 2020, after reaching its previous goal of an 8% reduction one year ahead of schedule. Ward said:

“As CSX invests in our network to meet America's growing freight transportation needs, innovative solutions that increase efficiency and reduce the use of valuable resources continues to be a critical component of our strategy.”

Photo: Pollution from freight trains in the Western world has drastically decreased in the past few decades.