Wabtec Publishes 2022 Sustainability Report
Wabtec Corporation has published its 2022 Sustainability Report, which showcases the company's advancements in important areas such as environmental conservation, social responsibility, and governance.
Wabtec is dedicated to fostering a sustainable future by leveraging pioneering technologies, practising ethical operations, and empowering individuals and communities.
“At Wabtec, we remain committed to being part of the solution and to slowing 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.
Wabtec Corporation is committed to growing its ESG goals to better serve its employees, customers, communities, and shareholders in a way that is good for the environment. The company is making new products and services that are better for the environment across its entire portfolio.
The sustainability report outlines key commitments related to Wabtec's climate action plan, demonstrating the company's focus on continuous improvement. They include the following:
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.
Commitment to disclosing its Scope 3 GHG emissions across its full value chain this year.
Setting near-term targets next year for categories of Scope 3 GHG emissions that are material to Wabtec.
Wabtec has taken to advance its ESG strategy and goals, presented in bullet point format:
Joined the United Nations (UN) Global Compact to demonstrate its ongoing commitment to promoting universal sustainability principles.
Partnered with industry to accelerate the development, validation, and adoption of lower carbon fuels and alternative clean energy technologies for the freight rail industry.
Became a founding member of Europe's Rail Joint Undertaking (ERJU), a partnership between major railway stakeholders to create a more sustainable and modern European railway system.
Reduced the greenhouse gas emissions intensity by 20% across its global operations.
Santana said, "At Wabtec, our biggest strength has always been our ability to keep changing to give our customers and the world game-changing, long-term innovations and solutions. While the journey to a fully decarbonised transportation future will take time, I am confident in the strength of Wabtec’s innovation, global scale, and, most importantly, our people. I know we will lead our industry forward, not by waiting for the future but by creating it.”