CSX Releases 2022 Environmental, Social and Governance Report
JACKSONVILLE, Fla., July 07, 2023 (GLOBE NEWSWIRE) -- CSX (NASDAQ: CSX) announced the release of its 2022 Environmental, Social and Governance (ESG) Report highlighting significant progress the company has made towards advancing its workforce and improving environmental stewardship, social responsibility and governance best practices over the past year.
“2022 was a pivotal year for CSX,” said Joe Hinrichs, CSX president and chief executive officer. “Led by railroaders who are deservedly proud of their role in moving America’s freight, our employees began creating a ONE CSX culture in which we’re working together as a more unified team – one that operates more safely, efficiently and sustainably to serve our customers better and grow our business.”
The report details CSX’s expanded use of cutting-edge fuel-saving locomotive technologies and its engagement of suppliers around GHG goals and expectations. Among its notable achievements, the company:
- Upgraded approximately 180 locomotives to distributed power, which moves more freight with less fuel;
- Engaged 50 suppliers – representing
75% of spend – in CDP’s Supply Chain program; and - Helped customers avoid approximately 12.5 million tons of CO2 emissions.
CSX also took concrete and historic actions to improve labor-management relations and quality of life for front-line employees. As part of these efforts, the report details the company’s advancement of its ONE CSX workplace culture rooted in valuing and developing its employees and built on teamwork across all levels, departments and locations. Notable accomplishments included:
- Becoming the first in the industry to provide paid sick leave benefits;
- Raising training pay for conductors by
40% – the highest increase for rail employees in more than 50 years; and - Introducing a revised non-disciplinary and non-punitive attendance policy for all craft employees.
Hinrichs said, "At CSX, we are committed to delivering excellence. This means fostering stronger relationships with our employees, providing exceptional service to our customers, prioritizing environmental stewardship for the benefit of our communities, and adhering to the highest governance standards, all of which deliver strong shareholder value. We take great pride in our service product, and we remain dedicated to constant improvement as we move forward."
The CSX report adheres to leading ESG disclosure frameworks including the Global Reporting Initiative (GRI) 2021 Universal Standards, the Sustainability Accounting Standards Board (SASB) Rail Transportation standards and the Task Force on Climate-related Financial Disclosures (TCFD).
For more information on the company’s Environmental, Social and Governance efforts, review the 2022 CSX ESG Report and corresponding fact sheet, available online at csx.com/esg or the investor section of csx.com.
About CSX
CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 200 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.
Contact:
Matthew Korn, CFA, Investor Relations
904-366-4515
Bryan Tucker, Corporate Communications
855-955-6397
