Wabtec Corporation (NYSE: WAB) released on November 15, 2021 its 2021 Sustainability Report, which highlights the company’s accomplishments and commitments to building a more sustainable future by developing innovative technologies, driving responsible operations, and empowering people and communities around the globe.
“For more than 150 years, Wabtec has looked for ways to improve safety and make a positive impact on people and the planet,” said Rafael Santana, President and CEO of Wabtec. “Today, the scope of sustainability requires broader consideration across the environmental, social, and economic landscape, so we must find more ways to enable efficiency, innovation, and human connection. This year’s report highlights the actions we have taken to accelerate our sustainability priorities, evolve our culture, and innovate groundbreaking technologies that will help build a cleaner, safer, more inclusive world.”
- The notable actions taken across the company to advance its sustainability strategy, include:
- The completion of Wabtec’s first comprehensive ESG Materiality Assessment that included stakeholder involvement from employees, customers, shareholders, suppliers, business partners and industry associations to identify material ESG issues.
- Published Green Finance Framework, supported by a second-party opinion from Sustainalytics, a Morningstar Company and a globally recognized provider of ESG research, ratings and data.
- The company will utilize green financing instruments to accelerate the development of technologies that enable sustainable value creation for both the passenger and freight rail sectors.
- Alignment with the United Nations Sustainable Development Goals (SDGs).
- The SDGs represent a global agenda to address the most pressing challenges facing our world, including climate action, and empowering people and communities.
- Wabtec plays a critical role in infrastructure, advancing quality of life, and furthering global development.
- Third-party verification of our Scope 1 and 2 GHG emissions data, as well as water consumption data in water-scarce areas, for the period from January 1 to December 31, 2020. Bureau Veritas performed this Limited Assurance Engagement in accordance with the International Standard on Assurance Engagements (ISAE) 3000 Revised Edition.
- The full statement including methodology, limitations and exclusions can be found on our website.
Insights for Indian operations:
- In the area of responsible operations, our plant in Hosur is looking to be 100% energy self-sufficient by 2025.
- Similar efforts are underway in other locations as well.
- Under the safety lens, our location in Gandhidham has over 1,000 injury free days, another in Baddi is going to celebrate 5000 safe man days.
“Despite the disruptions of the past year, we realized significant growth in several key areas, from the eco-efficiency of our product portfolio to reductions in our greenhouse gas emissions intensity,” said Santana. “Driving sustainable improvements is a journey that requires dedication and focus. We are committed to mitigating the impacts of climate change within our products and operations, doing more to create a diverse workforce, and empower our people to bring the best innovations to every customer we serve.”
Read the full report: click here.