KCS Targets Greenhouse Gas Emissions Written by Marybeth Luczak, Executive Editor
Kansas City Southern has pledged to set a science-based greenhouse gas emissions reduction target that it said “will align with what climate scientists say is needed to meet the Paris Agreement goal of limiting global warming to well below 2°C above pre-industrial levels.”
Kansas City Southern has submitted a letter to the Science Based Targets Initiative (SBTi) committing to setting a greenhouse gas emissions reduction target.
The target “will align with what climate scientists say is needed to meet the Paris Agreement goal of limiting global warming to well below 2°C above pre-industrial levels,” KCS said. The commitment letter to SBTi a partnership of CDP, the United Nations Global Compact (UNGC), World Resources Institute (WRI), and World Wide Fund for Nature (WWF) builds off steps the Class I railroad has already taken to lower emiss
The company informed the employees Friday.
“(It) is part of overall plans to align our operations with the current economy,” company spokesman Jeff DeGraff said in an email.
The furlough comprises 10 carmen, six boilermakers and one laborer, according to a shop employee who asked that his name not be used.
The company had planned to lay off the workers to offset a reduction in rail traffic due to the collapse of the coal industry and the effects of COVID-19 on the economy, said State Rep. Lou Schmitt, R-Altoona, who learned of the plans last month.
COVID-19 led the firm “to align our assets and resources with demand and generate sustainable margin improvement,” said company CEO James Squires in a news release on last year’s third quarter performance.
January 05, 2021
January Railway Age Digital Edition On Line Written by Marybeth Luczak, Executive Editor
Railway Age’s January 2021 issue is now available digitally. It features a cover profile of Canadian Pacific President and CEO Keith Creel the 58th annual recipient of Railway Age’s Railroader of the Year Award.
“Creel has been instrumental in Canadian Pacific forging a leadership role in the industry, while acknowledging the railroad’s place in history and its role in driving the North American economy forward,” Editor-in-Chief William C. Vantuono writes. “He has helped renew Canadians’ and CP employees’ sense of pride in a company that connected a nation, and connected Canada to the rest of the world. Under his steady hand, and under very difficult circumstances this past year, CP has been a safe, efficient and productive railroad, enabling its customers to connect with domestic and global markets.”
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For 2020, 2021, and 2022, we are projecting railcar deliveries of 32.2K, 35.9K and 36.2K units, respectively.
At Cowen and Company, we are revising our transportation OEM and machinery earnings estimates for fourth-quarter 2020 and 2021, and introducing our 2022 estimates; updating our North American Class 8 production forecast; and fine-tuning our railcar supply demand model. What are we seeing? Gradually improving supply-side dynamics.
OEM Positioning and New 2022 Estimates
We see Wabtec (WAB) as best positioned into the 4Q20 print. The Greenbrier Companies (GBX) is our top pick for 2021 (as noted in my Dec. 14 column), but we are cautious into the fiscal 1Q21 print in early January. In case of a major pandemic-related setback to global economies (not our assumption currently), Cummins (CMI) and PACCAR, Inc. (PCAR) could see relative near-term outperformance. Also, we’re introducing 2022 transportation OEM earnings estimates and raising some price targets.