Greenbrier Releases 2021 Environmental, Social and Governance Report

Rhea-AI Summary

The Greenbrier Companies (NYSE: GBX) released its 2021 Environmental, Social and Governance (ESG) report, titled On Track Together, adhering to the Sustainability Accounting Standards Board (SASB) framework. The report highlights achievements such as a record-breaking safety performance, an increase in recycled steel from 47% to 51%, and successful completion of all goals set in the previous year's report. Leadership emphasized the importance of balancing environmental efficiency with business performance as key for future success.

Positive

• Achieved record-breaking safety performance in fiscal 2021.
• Increased recycled steel content from 47% to 51%.
• Completed all goals from the 2020 ESG report.

Negative

• None.

LAKE OSWEGO, Ore., Nov. 2, 2021 /PRNewswire/ -- The Greenbrier Companies, Inc. (NYSE: GBX) today announced the release of its 2021 Environmental, Social and Governance (ESG) report, On Track Together. For the second consecutive year, the report was prepared in accordance with the Sustainability Accounting Standards Board (SASB) framework.

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"I am proud of the measures Greenbrier takes to meet our stakeholders' needs. This report demonstrates Greenbrier's dedication to the environment, workplace safety, employee satisfaction and our local communities, among many other important areas," said William A. Furman, Chairman and CEO. "Through an incredibly difficult year, Greenbrier's employees and operations exhibited resiliency, including moving our ESG strategy ahead, enhancing efficiencies across global operations and streamlining our data collection methodology."

Highlights from the report include:

• Completing a materiality assessment with perspectives from internal and external stakeholders, including Greenbrier leadership, customers, suppliers and community leaders, to determine the most relevant topics to address in Greenbrier's ESG program.
• Incorporating the United Nation's Sustainable Development Goals (SDGs) targets specific to Greenbrier's ESG approach. In 2021, SASB announced the actionable interconnections between its topics and SDG targets, indicating that together, the frameworks enhance existing ESG strategies.
• Achieving four consecutive years of improved safety results, including a company record-breaking safety performance in fiscal 2021.
• Increasing recycled steel content from 47% in 2020 to 51% in 2021. Steel is the company's largest natural resource usage and its most energy-intensive upstream input. Growing recycled steel content is an identified focus area in Greenbrier's ESG strategy.
• Hosting nearly 100 interviews with Greenbrier leaders to establish internal alignment and prioritize IDEAL (Inclusion, Diversity, Equity, Access and Leadership) actions. These conversations allowed employees to share their views on workplace diversity and inclusion and discuss areas for Greenbrier improvement.
• Meeting all goals in the company's 2020 ESG report with 2021 deadlines.

"Moving freight by rail or marine barge is among the most environmentally friendly transportation options available. The numbers speak for themselves. Greenhouse gas emissions can decrease by up to 75% by using rail systems instead of trucks to move freight," said Lorie Tekorius, President and Chief Operating Officer. "Greenbrier continually looks for ways to optimize the environmental efficiency of freight transportation products and deliver services more efficiently. Our success today and in the future requires balancing our ESG focus areas with business performance that meets the needs of customers, shareholder and employees."

Greenbrier's full ESG report can be found on its website.

About Greenbrier

Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Through 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 rail services business unit. Greenbrier manages 444,000 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. As of September 30, 2021, GBXL and Greenbrier own a lease fleet of nearly 12,500 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 any statements that are not purely statements of historical fact. Greenbrier uses words, and variations of words, such as "balancing" 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) COVID-19 governmental reaction to the pandemic and related economic disruptions (2) our ability to attract, retain and motivate senior management and other  employees. (3)  efficient and available supply  of products and services used in our business. 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 quarterly 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, Inc.

FAQ

What are the key highlights from Greenbrier's 2021 ESG report?

Key highlights include achieving a record-breaking safety performance, increasing recycled steel content to 51%, and meeting all goals from the 2020 ESG report.

What is the significance of the SASB framework in Greenbrier's ESG report?

The SASB framework provides a structured approach for companies to disclose sustainability information that is relevant to investors.

How does Greenbrier's ESG strategy contribute to business performance?

Greenbrier's ESG strategy enhances operational efficiencies and promotes environmental sustainability, which align with business performance goals.

What does the increase in recycled steel content mean for GBX?

Increasing recycled steel content reduces environmental impact and aligns with Greenbrier's commitment to sustainable practices, potentially improving investor sentiment.

Where can I find Greenbrier's full ESG report?

Greenbrier's full ESG report is available on their official website.