Railroad demonstrates continued robust, environmental transparency and quality of climate-related disclosure through CDP

MONTREAL, Dec. 07, 2021 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) has been recognized for leadership in corporate sustainability by global environmental non-profit CDP, securing a place on its prestigious ‘A List’ for tackling climate change.

CN was recognized for its actions to cut emissions, mitigate climate risks and develop the low-carbon economy, based on the data reported by the company through CDP’s 2021 climate change questionnaire.

CN is one of 200 high-performing companies to make the ‘A’ list out of nearly 12,000 companies that were scored. Through significant demonstrable action on climate, CN is leading on corporate environmental ambition, action and transparency worldwide.

“We are proud to have secured a place on CDP's A-list for the sixth time as well as being recognized for the twelfth time. We are committed to powering sustainable growth for our customers, people and communities. Our goal is to conduct our operations with minimal environmental impact while providing cleaner, more sustainable transportation services to our customers. Since 1993, we have reduced our locomotive emission intensity by 43%, avoiding over 48 million tonnes of GHG emissions. CN’s 2021 CDP response outlines our commitment to support the transition to a low carbon future, complementing our on-going discussions with investors and the work we do with our customers on the matter of climate change.”

- JJ Ruest, President and chief executive officer at CN

Recognizing the urgency of the fight against climate change, CN is committed to improving our carbon intensity consistent with stabilizing global temperatures.
Our new 2030 horizon science-based targets that reflect a well-below 2°C scenario were approved by the Science Based Targets initiative (SBTi) in April 2021.

CN recently signed the “Business Ambition for 1.5°C” and joined the “Race To Zero” Campaign, committing to setting targets in line with a 1.5°C scenario and net-zero carbon emissions by 2050.

As CN looks to 2030 and beyond, decarbonizing rail transportation will continue to require innovative fuel-efficient technologies, the greater use of cleaner sustainable fuels, and designing innovative low emission supply chain solutions. CN also recognizes the importance of collaborating with governments, supply chain partners, universities, cleantech, fuel producers, locomotive/engine manufacturers and working with customers on evolving markets and infrastructure adaptation in achieving an effective transition to a lower carbon future. Recently, CN announced important partnerships regarding renewable fuels testing and the purchase of a battery-electric locomotive for joint pilot projects.

“Many congratulations to all the companies on this year’s A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, even more so in the year of COP26 and the IPCC’s Sixth Assessment Report. The scale of the risk to businesses from climate change, water insecurity and deforestation can no longer be ignored, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector is essential for securing global ambitions for a net-zero, nature positive and equitable world. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”

- Paul Simpson, CEO of CDP

CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2021, over 590 investors with over US$110 trillion in assets and 200 major purchasers with US$5.5 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 13,000 companies responded.

A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provided insufficient information are marked with an F.

The full list of companies that made this year’s CDP A List is available here, along with other publicly available company scores: https://www.cdp.net/en/companies/companies-scores.

More information about CN’s CDP response is available online: www.cn.ca/environment.

About the CDP
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 590 investors with over $110 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 14,000 organizations around the world disclosed data through CDP in 2021, including more than 13,000 companies worth over 64% of global market capitalization, and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.

About CN
CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.

Forward-Looking Statements
Certain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words.

Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN, to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to, expectations, estimates, projections and assumptions relating to: CN’s fuel efficiency; the Company’s ability to implement certain initiatives, including emissions targets, scenario analyses, risk mitigation strategies, changes to enterprise risk management, future investments in and the availability of carbon emissions-reduction tools and technologies including through CN’s fleet upgrades; the impacts of existing and planned capital investments; North American and global economic growth; applicable laws, rules, 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; and capital investments and technology developments by third parties. Reference should also be made to Management’s Discussion and Analysis in CN’s annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN’s website, for a description of major risk factors relating to CN.

Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward- looking statement.

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