(Source: Progressive Railroading 03/10/2020)
Union Pacific Railroad today announced its intention to set science-based targets to determine how much and when the Class I will reduce greenhouse gas (GHG) emissions to support global climate change goals.
UP sent a a commitment letter to the Science Based Targets Initiative (SBTi), which independently assesses corporate emissions reduction targets in line with what climate scientists say is needed to meet the Paris Agreement goals — limiting global warming to well below 2 degrees Celsius above pre-industrial levels, UP officials said in a press release.
“As one of the nation’s largest freight railroads, it is our responsibility to act as environmental stewards, reducing emissions and enabling sustainable economic growth across our supply chain,” said Chairman, President and Chief Executive Officer Lance Fritz. “This is a challenging task as it means examining every aspect of our operation and looking for innovative solutions while continuing to create long-term value for our shareholders, customers, employees and the communities where we operate.”
UP’s target will use the SBTi’s Sectoral Decarbonization Approach Transport tool, which models targets for direct and indirect transportation emissions. UP anticipates finalizing its target and submitting it for approval to the SBTi within a year, company officials said.