Norfolk Southern Looks to Cut Greenhouse Gas Emissions by 2034

By Kimberly Chin

Norfolk Southern Corp. aims to cut its scope 1 and 2 greenhouse gas emissions by 42% by 2034, as the company seeks to align with the climate-change goals set by the Paris Agreement.

The emissions reduction target was approved by the Science Based Targets initiative, which helps companies set science-based targets that aim to keep global warming below 2 degrees Celsius above pre-industrial levels and fall in line with Paris Agreement targets. Norfolk Southern is using 2019 as its base year.

The transportation company, known for its network of freight railroads, said it has improved its fuel efficiency and is working on other ways to shore up its sustainability, including issuing $500 million of green bonds, retiring more than 700 locomotives and modernizing older models with energy-efficient technology.

"Our implementation of innovative technologies, sustainable operating practices, and locomotive modernizations are part of our efforts to build a more sustainable transportation network," Chief Sustainability Officer Josh Raglin said.

Write to Kimberly Chin at [e-mail]

(END) Dow Jones Newswires

July 26, 2021 14:18 ET (18:18 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.