CALGARY,
AB, July 7, 2022 /PRNewswire/ - Canadian
Pacific (TSX: CP) (NYSE: CP) is proud to become the first freight
rail company in North America to
participate in the United Nations (UN) Global Compact, a voluntary
leadership platform for the development, implementation and
disclosure of socially responsible business practices. Launched in
2000, the UN Global Compact is the largest corporate sustainability
initiative in the world, with more than 15,000 participating
companies in over 160 countries.
"CP's participation in the UN Global Compact marks an important
milestone as we advance our commitments and position as a
sustainability leader in the rail industry," said Keith Creel, CP's President and Chief Executive
Officer. "CP is proud to join thousands of other companies globally
committed to sustainable and responsible business action."
CP is committed to aligning our strategies and operations with
ten universally accepted principles in the areas of human
rights, labour, environment and anti-corruption and taking action
in support of the UN Sustainable Development Goals. CP will
continue to demonstrate measurable impact on these goals through
periodic updates and annual reporting to the UN Global Compact.
CP recently received the 2022 World Finance Sustainability Award
for Most Sustainable Company in Transportation. This marks the
third consecutive year that World Finance has recognized CP for its
longstanding commitment to implementing sustainability measures
across the organization. Additionally, Corporate Knights has
recognized CP as the top-rated freight transport company in
Canada's 'Best 50 Corporate
Citizens' for 2022.
Note on forward-looking information
This news release
contains certain forward-looking information and forward-looking
statements (collectively, "forward-looking information") within the
meaning of applicable securities laws. Forward-looking information
includes, but is not limited to, statements concerning
expectations, beliefs, plans, goals, objectives, assumptions and
statements about possible future events, conditions, and results of
operations or performance. Forward-looking information may contain
statements with words or headings such as "will", "anticipate",
"believe", "expect", "plan", "should", "commit" or similar words
suggesting future outcomes.
This news release contains forward-looking information relating
to CP's participation in the UN Global Compact and the actions that
CP intends to take in support of UN Sustainable Development
Goals.
The forward-looking information contained in this news release
is based on current expectations, estimates, projections and
assumptions, having regard to CP's experience and its perception of
historical trends, and includes, but is not limited to,
expectations, estimates, projections and assumptions relating to:
the fuel efficiency of railways and CP's operations; the impacts of
existing and planned capital investments; North American and global
economic growth; commodity demand growth; agricultural production;
commodity prices and interest rates; performance of our assets and
equipment; applicable laws, regulations and government policies;
the availability and cost of labour on the timelines anticipated
and with the capabilities required, as well as the availability and
cost of services and infrastructure; the satisfaction by third
parties of their obligations to CP; the anticipated impacts of the
novel strain of coronavirus (and the disease known as COVID-19) and
its variants; and capital investments by third parties. Although CP
believes the expectations, estimates, projections and assumptions
reflected in the forward-looking information presented herein are
reasonable as of the date hereof, there can be no assurance that
they will prove to be correct. Current conditions, economic and
otherwise, render assumptions, although reasonable when made,
subject to greater uncertainty.
Undue reliance should not be placed on forward-looking
information as actual results may differ materially from those
expressed or implied by forward-looking information. By its nature,
CP's forward-looking information involves inherent risks and
uncertainties that could cause actual results to differ materially
from the forward looking information, including, but not limited
to, the following factors: changes in business strategies; general
North American and global economic, credit and business conditions;
risks associated with agricultural production, such as weather
conditions and insect populations; the availability and price of
energy commodities; the effects of competition and pricing
pressures, including competition from other rail carriers; industry
capacity; shifts in market demand; changes in commodity prices;
uncertainty surrounding timing and volumes of commodities being
shipped; inflation; geopolitical stability; changes in laws,
regulations and government policies, including regulation of rates;
changes in taxes and tax rates; potential increases in maintenance
and operating costs; changes in fuel prices; disruption in fuel
supplies; uncertainties of investigations, proceedings or other
types of claims and litigation; labour disputes; changes in labour
costs and labour difficulties; risks and liabilities arising from
derailments; transportation of dangerous goods; timing of
completion of capital and maintenance projects; currency and
interest rate fluctuations; exchange rates; effects of changes in
market conditions and discount rates on the financial position of
pension plans and investments; trade restrictions or other changes
to international trade arrangements; the effects of current and
future multinational trade agreements on the level of trade among
Canada and the U.S.; climate
change and the market and regulatory responses to climate changes;
anticipated in-service dates; success of hedging activities;
operational performance and reliability; regulatory and legislative
decisions and actions; public opinion; various events that could
disrupt operations, including severe weather events, such as
droughts, floods, avalanches and earthquakes, and cybersecurity
attacks, as well as security threats and governmental response to
them, and technological changes; acts of terrorism, war or other
acts of violence or crime or risk of such activities; insurance
coverage limitations; material adverse changes in economic and
industry conditions, including the availability of short and
long-term financing; the pandemic created by the outbreak of
COVID-19 and its variants and resulting effects on economic
conditions, the demand environment for logistics requirements and
energy prices, restrictions imposed by public health authorities or
governments, fiscal and monetary policy responses by governments
and financial institutions, and disruptions to global supply
chains. The foregoing list of factors is not exhaustive. These and
other factors are detailed from time to time in reports filed by CP
with securities regulators in Canada and the
United States. Reference should be made to "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition
and Results of Operations - Forward-Looking Statements" in CP's
annual and interim reports on Form 10-K and 10-Q.
The forward-looking information contained in this news release
is made as of the date hereof. Except as required by law, CP
undertakes no obligation to update publicly or otherwise revise any
forward-looking information, or the foregoing assumptions and risks
affecting such forward-looking information, whether as a result of
new information, future events or otherwise.
About Canadian Pacific
Canadian Pacific is a
transcontinental railway in Canada
and the United States with direct
links to major ports on the west and east coasts. CP provides North
American customers a competitive rail service with access to key
markets in every corner of the globe. CP is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise. Visit cpr.ca to see
the rail advantages of CP. CP-IR
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SOURCE Canadian Pacific