Private investment firm Auxo Investment Partners has acquired Genesis Rail Services, a full-service railroad maintenance company based in Bluefield, West Virginia, and Roanoke, Virginia.
Genesis Rail Services, which was founded in 2009, provides outsourced maintenance of way, mechanical and construction services to Class I, Class II and industrial railroads across the U.S. The company recently patented its flagship service: a tie plate...
Conducting tests on alternatively fueled locomotives and seeking ways to reduce greenhouse gas emissions throughout the rail network infrastructure are just two of the emissions-reduction strategies North American Class I railroads are pursuing, according to recent industry statements and sustainability reports.
The strategies come as all seven Class I railroads participate in the Science Based Targets initiative (SBTi), says Jordan Stone, assistant vice president of government affairs for the As...
https://www.freightwaves.com/news/freight-railroads-set-green-goals
The Association of American Railroads (AAR) published a white paper with policy proposals that address climate change Monday, focusing on collaboration, technology, reducing emissions and simplifying processes.
Railroads move about 40% of U.S. long-distance freight volume, according to the paper, which is more than any other mode of transportation. Despite high volumes, the Environmental Protection Agency estimated that rail only contributes to 2.1% of U.S. transportation-related greenhouse gas...
https://s29755.pcdn.co/news/association-of-american-railroads-weighs-in-on-climate-policy
Kansas City Southern (NYSE: KSU) announced its commitment to set a more stringent emission reduction target that aligns with the Paris Agreement’s goal to limit global warming to well below 2 degrees Celsius above pre-industrial levels Tuesday.
Kansas City Southern (KCS) said it submitted a commitment letter to the Science Based Targets Initiative (SBTi) to reduce greenhouse gas (GHG) emissions. KCS did not mention specific emission reduction goals in the statement. However, based on 2018 data,...
https://www.freightwaves.com/news/kcs-commits-to-setting-more-stringent-emission-reduction-target
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
Reducing greenhouse gas (GHG) emissions and ensuring better energy usage and waste management are some of the short-term and long-term goals that Wabtec Corp. (NYSE: WAB) and Greenbrier Cos. (NYSE: GBX) shared in their 2020 sustainability reports.
“Our position as a global transportation leader gives us a unique perspective on the megatrends that are impacting our customers and other stakeholders, namely: climate change, automation and digitization, and urbanization,” stated Wabtec President and...
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
Rail is the lowest-emitting mode of freight per ton mile. This infographic shows that rail is only responsible for 6% of logistics-related greenhouse gas (GHG) emissions. Rail emits 23 grams of CO2 per ton-mile compared to trucking, which is at 202. Here’s how environmental sustainability trends in rail freight are looking for 2021.
Leveraging automation for optimal efficiency
New technologies and increased automation provide railroads with useful data and improved fuel efficiency. The Internet...
https://s29755.pcdn.co/news/5-rail-sustainability-trends-for-2021