Canadian Pacific Railway sustainability strategy

Canadian Pacific (CP) is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. ERM’s work with CP is built on our expertise in climate change, strategic sustainability reporting and management, and our understanding of stakeholder expectations regarding environmental, social and governance (ESG) performance.

CP engaged ERM in 2019 to help build the company’s sustainability program, streamline its sustainability reporting, and improve climate strategy and related disclosures. ERM helped CP to define its corporate wide sustainability commitments and enhance its sustainability disclosure by benchmarking rating and ranking expectations as well as peer disclosures.

We supported the company’s CDP Climate Change response by identifying opportunities for improvement, guiding internal stakeholder engagement, and developing new content to help CP strengthen its submission.

We also analyzed CP’s materiality assessment results and internal stakeholder engagement to inform CP’s internal and external reporting processes. Based on these findings, ERM supported the development of the company’s Sustainability Report, including the writing, design, and development of a PDF report along with a new, easy-to-navigate microsite, prepared in accordance with GRI Core requirements and incorporating SASB metrics.

Working closely with CP, ERM designed a consistent visual approach across media to create a cohesive look for the report. The microsite incorporates custom interactive elements, including a dynamic map on the homepage that highlights various sustainability achievements across CP’s network. We are currently working with CP to expand the functionality of the website as a platform for CP’s broader sustainability program. As a foundation for the overall process, ERM helped CP develop Sustainably Driven, a brand approach for the company’s new sustainability program, and actionable framework that defines CP’s sustainability commitments.

ERM will continue to work with CP to strengthen climate change disclosures in 2020. In addition to the CDP response, ERM’s support in 2020 includes assessment of physical and transition risks (scenario analysis) and development of a Scope 3 emissions inventory.