Revolutionizing the way the world moves for future generations

2023 Sustainability Report
2023 Executive Summary

Sustainability at Wabtec
Innovating with Purpose
Responsible Operations
Empowering People & Communities
Governance and Ethics
Report Archive

Sustainability Strategy

Unlock our customers’ potential by delivering innovative and lasting transportation solutions.

SUSTAINABILITY VISION

Wabtec is committed to sustainable value creation. Our strategy is to contribute to a better, more sustainable world through our unique business offerings, leading technologies, and sustainable business practices while creating value for our customers, employees, and other stakeholders.

“Sustainability is a collective journey, and we believe that collaborating with the entire ecosystem, including internal teams, customers, end-users, suppliers, industry associations, communities, governments, and investors will empower us to succeed"

Lilian Leroux
Chief Strategy and Sustainability Officer

SUSTAINABILITY PRINCIPLES

When it comes to corporate sustainability, Wabtec has a three-pronged approach that includes:

 

Innovating with purpose.

We are committed to developing responsible and sustainable products that minimize our impact on the planet.

Driving responsible operations.

We are committed to providing work environments and products that enable productive and efficient use of resources.

Empowering people and communities.

We are committed to driving an inclusive culture grounded in integrity, committed to the development of and investment in the communities where our teams live and work.

Material Topics

Prioritization and Management of ESG Issues

Sustainability│Wabtec Corporation
Wabtec completed our first environmental, social, and governance (ESG) materiality assessment in 2020 to prioritize topics encompassing the most significant impacts on our customers, communities, and the world.

These material topics are at the core of our sustainability strategy, as they have the highest relative priority to Wabtec and external stakeholders, and directly align with our action plans and key performance indicators highlighted throughout the 2023 Sustainability Report.

Prime Status Rating by ISS ESG

Awarded to companies with an ESG performance above the sector-specific Prime threshold, which means that they fulfill ambitious absolute performance requirements.

ISS ESG PRIME Rating

Climate Report

2024 Climate Report │ Wabtec Corporation

The impacts of climate change affect many aspects of our global society and economy. The Wabtec Climate Report presents our strategy for addressing climate-related impacts relevant to our business. This disclosure is aligned with recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). This climate report aims to provide our shareholders and other stakeholders with a high-level overview of the climate-related physical and transition risks to which Wabtec may be exposed, in addition to a review of potential climate-related opportunities. The report also includes our new climate commitments, which demonstrate how we plan to continue to create sustainable value for our stakeholders and shareholders.

 

 

Download the Report

Greenhouse Gas Emissions

Sustainability│Wabtec Corporation
Scope 1 and 2

We have aligned our operational framework with the Paris Agreement and its science-based goal of limiting the Earth’s temperature increase to less than 1.5 degrees Celsius. Demonstrating our commitment to continuous improvement along our sustainability journey, we replaced our original greenhouse gas (GHG) and energy intensity goals with an absolute emissions goal to reduce our Scope 1 and 2 emissions by 50% by 2030 from a 2019 baseline. We have made tremendous progress toward that target, accomplishing 35% reduction in 2022.

Scope 3

Wabtec’s most relevant category of Scope 3 GHG emissions is Category 11: Use of Sold Products, at more than 97% of Wabtec’s estimated total Scope 3 emissions. Within this category, the largest source of GHG emissions is from our customers’ use of our freight locomotives. A modal shift to rail will enable a significant reduction in GHG emissions world wide despite Wabtec’s increase in Scope 3 absolute emissions from manufacturing additional locomotives. As global freight volumes increase and more goods are transported by rail, the demand for locomotives is expected to increase. However, the overall emissions reduction benefits from shifting to rail — a more energy efficient and safer mode of transportation — would greatly exceed the change in Wabtec’s own Scope 3 absolute emissions. Moreover, adoption by our customers of Wabtec’s next-generation technologies — such as our biofuel and battery locomotives, our digital solutions, and our future hydrogen-powered locomotives — will drive further reductions in our customers’ Scope 1 and 2 emissions and Wabtec’s Scope 3 emissions intensity.

Sustainability│Wabtec Corporation

United Nations Global Compact

In 2022, Wabtec joined the United Nations Global Compact, demonstrating our existing and ongoing commitment to the universal sustainability principles promoted by the organization.

Sustainability│Wabtec Corporation
LEADING THE WAY IN RAIL

 

Lending our Expertise

Acting on our Sustainability strategy requires engagement with stakeholders and thought leaders outside of our organizational envelope. As a leading player in both the passenger and freight rail sectors and a storied company with more than 150 years of experience driving innovation, we believe that Wabtec, has an obligation to engage in dialogue and drive collaboration. Below is a brief snapshot of how we, as an enterprise, are stepping into leadership and concurrently staying close to industry thought leaders that will help us to advance.

Engaging in Conversation
Sustainability│Wabtec Corporation