Wabtec Corporation (NYSE: WAB) released today its 2022 Sustainability Report highlighting the company’s progress on key environmental, social, and governance (ESG) commitments. The company is focused on creating a sustainable future through innovative technologies, responsible operations, and empowering people and communities.
“At Wabtec, we remain committed to be part of the solution and to slow the speed of global climate change by taking action within our own operations and bringing products to market that drive sustainable value for our customers,” said Rafael Santana, President and CEO of Wabtec.
The company is committed to expanding its ESG goals to ensure they serve employees, customers, communities, and shareholders in more sustainable ways. Wabtec strives to develop new, more sustainable products and services across its portfolio to reduce the impact on the environment. Demonstrating Wabtec’s focus on continuous improvement, the sustainability report detailed key commitments related to its climate action plan such as:
- Setting a new near-term absolute greenhouse gas (GHG) reduction goal to reduce its Scope 1 and 2 GHG emissions by 50% by 2030, from a baseline of 2019
- Committing to disclose Wabtec’s Scope 3 GHG emissions across its full value chain this year
- Committing to set near-term targets next year for categories of Scope 3 GHG emissions material to Wabtec
Wabtec took several actions to advance its ESG strategy and goals, including:
- Joining the United Nations (UN) Global Compact, demonstrating the company’s existing and ongoing commitment to the universal sustainability principles promoted by the organization
- Partnering with industry to accelerate the development, validation, and adoption of lower carbon fuels and alternative clean energy technologies for the freight rail industry
- Joining Europe’s Rail Joint Undertaking (ERJU) as a founding member; A follow-up to the Shift2Rail initiative, ERJU is a partnership between Europe’s major railway stakeholders that aims to create a more modern and sustainable European railway system
- Reducing the greenhouse gas emissions intensity by 20% across the company’s global operations
“Our greatest strength at Wabtec has always been our ability to continuously transform our company to deliver game-changing, sustainable innovations and solutions to our customers and the world,” said Santana. “While the journey to a fully decarbonized transportation future will take time, I am confident in the strength of Wabtec’s innovation, global scale, and, most importantly, our people. I know that we will lead our industry forward, not by waiting for the future, but creating it.”
To download and read the full report, visit www.wabteccorp.com/sustainability
About Wabtec Corporation
Wabtec Corporation is focused on creating transportation solutions that move and improve the world. The company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for over 150 years and has a vision to achieve a zero-emission rail system in the U.S. and worldwide.
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