UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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CURRENT REPORT
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Emerging growth company
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Item 7.01 Regulation FD Disclosure.
On February 10, 2021, Union Pacific Corporation (the Company) announced it received approval of its science-based targets from the Science Based Targets Initiative (SBTi), which independently assesses corporate emissions reduction targets in line with what climate scientists say is needed to meet the Paris Agreement goals – limiting global warming to well below 2°C above pre-industrial levels.
The Company issued a press release regarding this approval, which is attached hereto as Exhibit 99.1.
The information in this Form 8-K and the accompanying exhibit is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the Exchange Act), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the Securities Act), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times that, or by which, such performance or results will be achieved. Forward-looking information, including expectations regarding operational and financial improvements and the Company’s future performance or results are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statement. Important factors, including risk factors, could affect the Company’s and its subsidiaries’ future results and could cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements. Information regarding risk factors and other cautionary information are available in the Company’s Annual Report on Form 10-K for 2020, which was filed with the SEC on February 5, 2021. The Company updates information regarding risk factors if circumstances require such updates in its periodic reports on Form 10-Q and its subsequent Annual Reports on Form 10-K (or such other reports that may be filed with the SEC).
Forward-looking statements speak only as of, and are based only upon information available on, the date the statements were made. The Company assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. Any references to our website are provided for convenience and, therefore, information on or available through the website is not, and should not be deemed to be, incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1Press Release of Union Pacific Corporation dated February 10, 2021.
104Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: February 10, 2021
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| UNION PACIFIC CORPORATION | ||
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| By: | /s/ Jennifer L. Hamann | |
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| Jennifer L. Hamann | |
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| Executive Vice President and Chief Financial Officer | |
Exhibit 99.1
Union Pacific’s Science-based Targets Reducing Emissions Approved
FOR IMMEDIATE RELEASE
OMAHA, Neb., Feb. 10, 2021 – Union Pacific today announced it received approval of its science-based targets determining how much and how quickly the company will reduce greenhouse gas emissions (GHG).
The Science Based Targets initiative (SBTi) approved the targets to reduce absolute scope 1 and 2 GHG emissions from its operations 26% by 2030 against a 2018 baseline.
“As the world seeks to improve environmental sustainability, it’s critical for businesses to take action,” said Chairman, President and CEO Lance Fritz. “Although we move freight in an environmentally responsible way, we will not be complacent about our operations’ impact. We’re proud to solidify our commitment through actions that also will enable our customers to reduce their carbon footprint and protect the environment.”
SBTi independently assesses corporate emissions reduction targets in line with what climate scientists say is needed to meet the Paris Agreement goals – limiting global warming to well below 2°C above pre-industrial levels.
While Union Pacific works to further reduce its environmental footprint, it is important to note railroads already are one of the most fuel efficient means of transportation. Moving freight by rail instead of truck reduces GHG emissions by up to 75%. On average, Union Pacific moves a ton of freight 454 miles on a single gallon of diesel fuel.
“Committing to achieve our SBTi targets is just one piece of our railroad’s overall Environmental, Social and Governance (ESG) strategy,” said Chief Human Resource Officer Beth Whited. “Built on four areas of concentration – Engaging Employees, Sustainable Solutions, Protecting the Environment and Strengthening Communities – our ESG strategy addresses the evolving needs of our stakeholder groups over the next decade and is more inclusive of the overall impact we can have.”
Learn more about how Union Pacific is building a sustainable future in the company’s Building America Report.
ABOUT UNION PACIFIC
Union Pacific (NYSE: UNP) delivers the goods families and businesses use every day with safe, reliable and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at .
Union Pacific Media Contact: Tim McMahan at 402-544-4286 or tsmcmaha@up.com
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