Union Pacific recognized for sustainability
Union Pacific has been named to the Dow Jones Sustainability Index for North America, an annual metric that gauges companies’ commitments to sustainability.
According to S&P Global, the firm that manages the list, the index “represents the top 20% of the largest 600 North American companies in the S&P Global BMI based on long-term economic, environmental and social criteria.”
UP (NYSE: UNP) joins CSX (NASDAQ: CSX) and Canadian railways CN (NYSE: CNI) and Canadian Pacific (NYSE: CP), which were also named to the list.
This is UP’s first appearance in the index, which “benchmarks corporate sustainability performance based on an assessment of comprehensive governance, economic, environmental and social criteria. The other Class I railroads on the list have been on it multiple times.
Among the sustainability initiatives that the company implemented in 2021 were establishing a short-term target to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 26% by 2030, using 2018 as a baseline. This goal was approved by the Science Based Target Initiative, a global organization that encourages private entities to adopt climate-related goals.
Scope 1 emissions directly come from a company’s assets while Scope 2 emissions are indirect emissions associated with the purchase of electricity, steam, heat or cooling, according to the U.S. Environmental Protection Agency.
Related to that initiative is UP’s plan to modernize 600 of its locomotives for a total of more than $1 billion. UP says the modernizations will reduce carbon by approximately 350 tons per locomotive per year.
“Union Pacific is proud to be recognized as part of the prestigious DJSI list as a result of our
environmental and sustainability efforts,” Beth Whited, UP chief human resource officer, said in a Thursday release. “Railroads are the most environmentally responsible way to transport ground freight, and we are committed to further reducing our carbon footprint, working hand in hand with our customers and communities to ensure a shared sustainable future.”
Railinc, Commtrex partner on data visibility product
Rail data provider Railinc and rail logistics technology provider Commtrex are working together to develop a logistics and fleet management services technological platform.
The broader goal is to simplify the movement of freight by rail, both companies said this week.
Railic will provide outsourced or on-demand physical management of its rail program using its TransmetriQ Rail Management System (RMS) software. Commtrex will use that software as well as other data analytics projects to provide end-to-end visibility and streamline operations for customers.
“We are seeing a significant demand from our members who are looking to outsource their rail logistics and fleet management needs,” Commtrex CEO Martin Lew said in a release. “These customers can now focus on growing their business while their freight is managed 24/7/365 by a highly experienced and skilled rail logistics team.”
The partnership will create “an ideal synergy of technology and services” aimed at improving efficiency in freight shipping, according to Commtrex.
Said Mika Majapuro, TransmetriQ vice president of product management and strategy: “When the TransmetriQ team was working with rail shippers to develop our Rail Management System, it became clear that customers valued simplicity and actionable insights. Combining next-generation technology and deep rail expertise, Railinc and Commtrex are able to provide an excellent freight rail experience that simplifies shipping by rail, making it more intuitive and attractive.”