Sets a Scope 2 greenhouse gas reduction
goal
Reporting frameworks include SASB, TCFD and
SDGs
LAKE
OSWEGO, Ore., Nov. 1, 2022
/PRNewswire/ -- The Greenbrier Companies, Inc. (NYSE:GBX)
released its 2022 Environmental, Social and Governance (ESG)
report, On Track Together, today. The report summarizes the
Company's global sustainability initiatives and performance from
the 2022 fiscal year.
Experience the full interactive Multichannel News Release here:
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On Track Together describes Greenbrier's efforts to
deliver on a robust ESG agenda, including a review of its 2021
materiality assessment to address stakeholders' evolving values and
priorities. Greenbrier's strategic ESG plan is guided by five core
pillars: Safety & Quality, People, Environmental
Sustainability, Governance & Ethics and Communities.
The report announces new goals and targets and highlights key
achievements from the last fiscal year, including:
- Achieving the 'Company's best-ever Total Recordable Incident
and DART rates at 1.09 and 0.75, respectively
- Setting a greenhouse gas reduction goal to reduce Scope 2 GHG
emissions by 20% over the next five years
- Committing to hosting a 2° Celsius or lower planning event by
2030
- Introducing IDEAL (inclusion, diversity, equity, access and
leadership) values to onboarding and retention strategies and the
Supplier Code of Conduct
- Initiating six employee resource groups, three times higher
than the goal stated in 2021
- Achieving 36% female Board composition
- Contributing 9,300 volunteer hours and investing more than
$1.5 million in Greenbrier's local
communities
The report was prepared in accordance with the Sustainability
Accounting Standards Board (SASB) Industrial Machinery & Goods
standard. This is the third consecutive year in which Greenbrier
has reported under this standard. The report also includes United
Nations' Sustainable Development Goals (SDG) targets and reflects
partial alignment to the Task Force on Climate-Related Financial
Disclosures (TCFD), with a commitment to reach full alignment no
later than 2030.
Lorie Tekorius, CEO &
President said, "'Greenbrier's ESG strategy is designed to drive
real and sustainable improvements in areas where we can make the
most impact. We know that ESG considerations are gaining
prominence. Our stakeholders increasingly prioritize the need for
our products and services to support their efforts to pursue a more
sustainable and equitable future. Rail remains among the most
environmentally friendly modes of freight transport. According to
the Association of American Railroads, rail moves 40% of U.S.
freight but accounts for only 2.1% at U.S. transportation-related
greenhouse gas emissions. Our organization, from our Board to
executive leadership to each individual team member, is committed
to advancing our ESG goals. We look forward to providing updates on
our progress."
The report is available at https://www.gbrx.com/esg/
About Greenbrier
Greenbrier, headquartered in Lake
Oswego, Oregon, is a leading international supplier of
equipment and services to global freight transportation markets.
Through its wholly-owned subsidiaries and joint ventures,
Greenbrier designs, builds and markets freight railcars and marine
barges in North America,
Europe and Brazil. We are a leading provider of freight
railcar wheel services, parts, maintenance and retrofitting
services in North America through
our maintenance services business unit. Greenbrier manages 408,000
railcars and offers railcar management, regulatory compliance
services and leasing services to railroads and other railcars
owners in North America. GBX
Leasing (GBXL) is a special purpose subsidiary that owns and
manages a portfolio of leased railcars that originate primarily
from 'Greenbrier's manufacturing operations. GBXL and Greenbrier
own a lease fleet of nearly 12,200 railcars. Learn more about
Greenbrier at www.gbrx.com.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: This release may contain forward-looking
statements, including statements that are not purely statements of
historical fact.
Greenbrier uses words, and variations of words, such as
"achieve," "align," "announce," "can," "commit," "deliver," "goal,"
"initiate," "introduce," "prioritize," "provide," "reach,"
"reduce," "set," "target," and similar expressions to identify
forward looking statements.
These forward-looking statements are not guarantees of future
performance and are subject to certain risks and uncertainties that
could cause actual results to differ materially from the results
contemplated by the forward-looking statements. Factors that might
cause such a difference include, but are not limited to, the
following: (1) An economic downturn and economic uncertainty may
adversely affect demand for our products and services. Unfavorable
economic conditions may lead our customers to delay or reduce
purchases of our products and services, result in lower sales
volumes, lower prices, lower lease utilization rates, and decreased
revenues and profits, all of which can impact our ability to
achieve our ESG goals. (2) We rely on limited suppliers for certain
products and services. If we are not able to procure products or
services on commercially reasonable terms or on a timely basis, our
business, financial condition, results of operations, and progress
toward achieving our ESG goals would be adversely affected. (3) Our
success depends on our ability to attract, retain and motivate
senior management and other key employees. Achieving this objective
may be difficult due to many factors, including fluctuations in
global economic and industry conditions, competitors' hiring
practices, cost reduction activities, and the effectiveness of our
compensation programs.
More information on potential factors that could cause our
results to differ from our forward-looking statements is included
in the Company's filings with the SEC, including in the "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" sections of the Company's most
recently filed periodic report on Form 10-K and subsequent filings.
Except as otherwise required by law, the Company assumes no
obligation to update any forward-looking statements or information,
which speak as of their respective dates. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
reflect management's opinions only as of the date hereof.
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SOURCE The Greenbrier Companies