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Annual Report Underscores Stakeholders’ Priorities in Sustainability and Safety
Union Pacific Railroad released its annual Building America Report, which encompasses the railroad’s progress toward its safety, sustainability, corporate accountability and community engagement goals. As part of its steadfast commitment to corporate transparency, the report tracks progress made to address Union Pacific stakeholders’ most important issues identified in its 2021 a materiality assessment.
“This report highlights our progress to achieve the goals outlined in our Building a Sustainable Future 2030 strategy and follows through on our commitment to transparent communication,” said Chairman, President and CEO Lance Fritz. “Placing our stakeholders at the center of our decision making helps us find the best solutions, enables our customers to get their jobs done, and supports and connects the communities where our employees live and work.”
Union Pacific improved key safety metrics in 2022 as a result of its comprehensive approach to safe train operations through use of technology, 1.5 million hours of best-in-class training for its workforce and maintenance methodologies. Total derailments on Union Pacific declined by 21% compared to 2019.
In addition to its safety efforts, Union Pacific invested $1.9 billion in its infrastructure to provide consistent, reliable service. From installing nearly 4 million new rail ties to replacing, resurfacing or expanding more than 20,000 track miles in 2022, Union Pacific prioritized building a safer, more efficient railroad.
See related article: Union Pacific Showcases DE&I Leadership with Majority-Diverse Board
As technology has become more central to Union Pacific’s operations, so has the focus on maintaining the security of its systems and data. The railroad implemented an industry-leading qualitative cybersecurity risk management process to ensure its operations are appropriately protected from cyber events. To date, Union Pacific has not experienced any material disruption of operations due to a cyber threat or attack.
The report also highlights how Union Pacific’s $24.1 million in community investment reached 2,500 nonprofit organizations in 2022, helping build and enhance community spaces, develop the workforce, bolster safety and advance the health of our environment.
“The Building America Report tracks our progress across our most important sustainability categories, and we are proud of our achievements,” said Beth Whited, executive vice president – Sustainability and Strategy, and chief human resources officer. “At Union Pacific, sustainability is integrated into our company processes, goals and culture, and the actions we are taking now will help build a more sustainable world for our workforce, customers and communities.”
The Building America Report – along with Union Pacific’s Climate Action Plan, We Are One Report, Proxy Statement and other communications – keeps its valued stakeholders apprised of progress toward its sustainability goals and where it’s headed in the future.