Greenbrier Issues 2024 Sustainability Update

Rhea-AI Summary

Greenbrier (NYSE:GBX) has released its 2024 Sustainability Update, 'On Track Together,' highlighting significant environmental and social achievements. The company recycled 25,000 tons of materials through railcar restoration and increased its recycled steel usage to 56% for new manufacturing. Notable achievements include 35% renewable energy usage in U.S. operations and nearly $800,000 in charitable giving. The report received multiple sustainability recognitions from major railway companies and media organizations. Greenbrier achieved a 94% response rate in its global employee survey and implemented new risk management systems for compliance monitoring. The company plans to transition to ISSB's IFRS S1 and S2 standards following TCFD's disbandment in 2024.

The Company's first interim data refresh report

External recognitions support sustainability performance

LAKE OSWEGO, Ore., Nov. 13, 2024 /PRNewswire/ -- The Greenbrier Companies, Inc. (NYSE:GBX) ("Greenbrier") released its 2024 Sustainability Update, On Track Together. The 2024 interim report provides updates to Greenbrier's key sustainability issues on the topics of Safety & Quality, People, Environmental Sustainability, Governance & Ethics and Communities.

Experience the full interactive Multichannel News Release here: https://www.multivu.com/greenbrier/9299952-en-greenbrier-2024-sustainability-update-on-track-together

Highlights from On Track Together include:

• Greenbrier reused, reclaimed or recycled 25,000 tons of materials through its programmatic railcar restoration activities, including Sustainable Conversions^TM.
• Employees provided a global response rate of 94% to its 2024 survey, which solicited feedback and provided insight into employee perceptions and areas for improvement.
• Local communities received nearly $800,000 through Greenbrier's charitable giving efforts.
• The total share of recycled steel purchased for new railcar manufacturing increased to 56%.
• Greenbrier underwent a 2-degree Celsius scenario planning event to assess the Company's preparedness under various potential climate-related situations.
• A third-party, automated risk management system was introduced to monitor customer and supplier compliance with all international laws and regulations.
• In 2024, 35% of Greenbrier's U.S.-based electricity usage came from renewable energy sources.
• During the last year, Greenbrier received a variety of sustainability awards and recognitions, led by our key customers and other stakeholders. This includes Canadian National Railway's EcoConnexions Partner, Union Pacific's Sustainability Partner, Norfolk Southern's Thoroughbred Sustainability Partner, Governance Intelligence's Best ESG reporting (small cap), America's Climate Leaders by USA TODAY and Statista, and Newsweek's America's Greenest Companies.

Lorie Tekorius, CEO and president, said, "I am proud of the progress made on our sustainability priorities in fiscal 2024. With our people at the center of our decision-making and continuous improvement initiatives, we created value for our customers, industry and the communities where we operate. This is demonstrated by the many external sustainability recognitions we have received from our customers, media organizations, and other stakeholders."

The report follows the Sustainability Accounting Standards Board (SASB) framework with reference to the related United Nations Sustainable Development Goals (UN SDGs). Greenbrier previously tracked progress for conformance with the Taskforce on Climate-Related Financial Disclosures. Due to TCFD's disbandment in 2024, Greenbrier plans to transition to the International Sustainability Standards Board's (ISSB) new International Financial Reporting Standards (IFRS) S1 General Requirements for Disclosure of Sustainability-Related Financial Information and IFRS S2 Climate-Related Disclosures.

On Track Together is available at https://www.gbrx.com/esg/.

About Greenbrier 
Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Through its wholly-owned subsidiaries and joint ventures, Greenbrier designs, builds and markets freight railcars in North America, Europe and Brazil. We are a leading provider of freight railcar wheel services, parts, maintenance and retrofitting services in North America through our maintenance services business unit. Greenbrier owns a lease fleet of approximately 15,500 railcars that originate primarily from Greenbrier's manufacturing operations. Greenbrier offers railcar management, regulatory compliance services and leasing services to railroads and other railcar owners in North America. Learn more about Greenbrier at www.gbrx.com.

Forward-Looking Statements 
This press release may contain forward-looking statements, including statements that are not purely statements of historical fact. Greenbrier uses words, and variations of words, such as "assess," "continue," "future," "improve," "increase," "initiative," "plan," "progress," "provide," "will," and similar expressions to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements. Factors that might cause such a difference include, but are not limited to, the following: an economic downturn and economic uncertainty; inflation (including rising energy prices, interest rates, wages and other escalators) and policy reactions thereto (including actions by central banks); disruptions in the supply of materials and components used in the production of our products; the war in Ukraine and related events, and related economic disruptions (including, among other factors, operations and supply disruptions and labor shortages). More information on potential factors that could cause our results to differ from our forward-looking statements is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic report on Form 10-K. Except as otherwise required by law, the Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date hereof.

View original content:https://www.prnewswire.com/news-releases/greenbrier-issues-2024-sustainability-update-302304797.html

SOURCE The Greenbrier Companies, Inc.

FAQ

What sustainability achievements did Greenbrier (GBX) report in its 2024 update?

Greenbrier reported recycling 25,000 tons of materials, achieving 56% recycled steel usage in manufacturing, 35% renewable energy usage in U.S. operations, and distributing nearly $800,000 in charitable giving.

How much renewable energy did Greenbrier (GBX) use in its U.S. operations in 2024?

In 2024, 35% of Greenbrier's U.S.-based electricity usage came from renewable energy sources.

What sustainability awards did Greenbrier (GBX) receive in 2024?

Greenbrier received recognition as Canadian National Railway's EcoConnexions Partner, Union Pacific's Sustainability Partner, Norfolk Southern's Thoroughbred Sustainability Partner, and was named in America's Climate Leaders by USA TODAY and America's Greenest Companies by Newsweek.

What percentage of recycled steel did Greenbrier (GBX) use in new railcar manufacturing?

Greenbrier increased its total share of recycled steel purchased for new railcar manufacturing to 56%.