Union Pacific unveils ESG goals in annual report
(Source: Progressive Railroading 05/04/2021)
Union Pacific Railroad yesterday published its 2020 Building America Report, the railroad’s annual report on its environmental, social and governance (ESG) initiatives.
The report unveils UP’s new cumulative ESG strategy called “Building a Sustainable Future 2030,” which includes four areas of concentration: investing in the UP workforce, driving sustainable solutions, championing environmental stewardship and strengthening the communities UP serves.
“The COVID-19 pandemic taught the world about resiliency, something that’s always been a part of our railroad’s DNA,” said UP Chairman, President and Chief Executive Officer Lance Fritz in a press release. “As a critical part of America’s infrastructure, our ability to quickly respond to customers’ evolving needs will continue to be critical long into the future as we face the impacts of climate change, social injustice and other global crises.”
The 2020 Building America Report is the first to include the company’s Fact Book, which includes additional explanatory information that is relevant to investors.
The report includes the following:
Investing in the workforce:
• Detailed information about UP’s entire workforce that is more comprehensive and covers a greater portion of its employee base than the EEO-1 report.
• New initiatives to build a diverse, inclusive workforce that reflects the communities where UP operates.
Driving sustainable solutions:
• UP’s $2.8 billion investment to harden its infrastructure and support growing customer and community needs.
• A record for moving wind turbine components.
Championing environmental stewardship:
• The railroad’s targets to reduce greenhouse gas emissions, approved by the Science Based Targets Initiative in January 2021.
• UP’s role helping a community recycle more than 1.2 million plastic bottle caps.
Strengthening communities:
• COVID-19 relief for communities through the Community Ties Giving Program.
• UP’s $423 million spend on goods and services from more than 275 diverse suppliers in 35 states.