Canadian Pacific publishes 2018 sustainability report

Canadian Pacific earlier this week released its 2018 corporate sustainability report, which highlights the Class I's achievements in safety, operational excellence and social impact.

Titled "Sustainably Driven," the report was developed using a new framework for reporting the company's efforts to align business practices with sustainability goals and objectives, CP officials said in a press release.

The report "further solidifies our commitment to incorporating sustainability in all aspects of our business," said President and Chief Executive Officer Keith Creel. "As part of this transformational journey, we will continue to actively manage the carbon footprint associated with our operations and govern our business in a transparent, ethical and accountable manner, to the benefit of all our stakeholders."

Under the safety category, the report notes that in 2018 CP had the lowest Federal Railroad Administration (FRA) reportable train accident frequency among the North American Class Is; and achieved an 11 percent decrease in FRA-reportable employee personal injuries compared with 2017's number.

In the area of operational excellence, CP reported record revenue of $7.3 billion and its lowest yearly operating ratio of 61.3 percent at year-end 2018; reduced fuel consumption and emissions; and invested $7 million wastewater infrastructure capital to improve efficiencies.

Under the social category, CP noted it marked the 20th anniversary of the CP Holiday train; became the first North American Class I to designate a woman — Isabelle Courville — as chair of its board; and raised $834,000 for the Homes for Heroes Foundation, its initiative to build homes for homeless veterans.

CP's report was prepared in accordance with Global Reporting Initiative standards and integrates a number of disclosures from the Sustainability Accounting Standards Board Rail Transportation Framework.