CP

Canadian Pacific launches hydrogen-powered locomotive project

CP is starting a pilot project to build a hydrogen-powered locomotive.

Canadian Pacific (NYSE: CP) is starting a pilot project to develop a hydrogen-powered locomotive.

As concerns for the environment rise, freight transporter companies face increasing pressure to reduce greenhouse gas (GHG) emissions. If successful, Canadian Pacific (CP) would be the first company in North America to run a line-haul hydrogen-powered locomotive, a release announcing the project on Friday said.

One of CP’s line-haul locomotives will be retrofitted with hydrogen fuel cells and battery...

https://www.freightwaves.com/news/canadian-pacific-launches-hydrogen-powered-locomotive-project

CN, CSX and CP achieve climate change leadership status

CN, CP and CSX are scored as climate leaders by the CDP.

Railways CN (NYSE: CNI), CSX (NASDAQ: CSX) and Canadian Pacific (NYSE: CP) made it to the Carbon Disclosure Project’s (CDP) leadership level for climate change on Tuesday. 

Only 5% of the more than 5,800 companies scored by the CDP joined CSX and CN on the A List for climate. With scores ranging from A to F, Canadian Pacific (CP) received an A-minus climate rating from the CDP. 

The CDP annually scores companies that disclose environmental data related to the climate, deforestation and water...

https://www.freightwaves.com/news/cp-cn-and-csx-get-climate-ratings

TCI Fund Management seeks climate action from CP and CN

TCI Chris Hohn seeks climate action from CN and CP.

CN (NYSE: CNI) and Canadian Pacific (NYSE: CP) shareholder TCI Fund Management Ltd, has asked both railways to lay out climate action plans at their annual general meetings in 2021. 

TCI has a 2.93% stake in CN and is CP’s largest shareholder with an 8.31% stake.

TCI has an extensive environmental, social and governance (ESG) investment policy regarding climate change. In the proposal sent last week, Christopher Hohn, TCI founder and portfolio manager, asked that the railways establish climate...

https://s29755.pcdn.co/news/tci-fund-management-seeks-climate-action-from-cp-and-cn

CP to own Detroit River Rail Tunnel in $312M deal

A Canadian Pacific Railway (CP) engine moves on a track. The railway will own the Detroit River Rail Tunnel

Canadian Pacific Railway (NYSE: CP) has inked a $312 million deal to acquire full ownership of the cross-border Detroit River Rail Tunnel from an Ontario pension fund affiliate, the company announced on Friday.

CP has an existing 16.5% stake in the tunnel and will acquire the remaining interest from OMERS Infrastructure, an affiliate of the Ontario Municipal Employees Retirement System pension fund. The railway expects to reduce its costs to use the cross-border U.S.-Canada railway link. 

“This...

https://s29755.pcdn.co/news/cp-to-own-detroit-river-rail-tunnel-in-312m-deal

Canadian Pacific says mid-50s operating ratio within reach

A photograph of a Canadian Pacific train traveling across a field.

An operating ratio in the mid-50s percentage range is still possible for Canadian Pacific (NYSE: CP) for as early as next year, even as the coronavirus pandemic continues to play out in North America, company executives said during Wednesday’s second-quarter earnings call.

Operating ratio, a company’s expenses as a percentage of its revenue, is a metric that some investors use to gauge the financial health of a company. A lower operating ratio can imply improved financial performance.

And for the...

https://www.freightwaves.com/news/canadian-pacific-says-mid-50s-operating-ratio-within-reach