Monday, June 25, 2012

CSX releases CSR Report

CSX Corporation unveiled its 2011 Corporate Social Responsibility (CSR) Report outlining the company's operations, environmental, social and financial performance.

"Our CSR Report reflects a holistic view of who we are as a company," said Michael Ward, chairman, president and chief executive officer. "CSX is achieving milestones in environmental stewardship and community and employee engagement, while at the same time driving commercial, financial and operational success. Measurement of these efforts and transparent reporting benefits shareholders, customers, employees and communities alike."

CSX's report notes the company's role as an economic contributor and employer, infusing capital and community investment and creating jobs. CSX hired approximately 4,000 employees in 2011, nearly one quarter of which were military veterans. The company plans to hire more than 3,000 people in 2012 and expects many of those will also be military veterans.

The CSR report also underlines CSX's achievements related to its environmental and community initiatives. CSX reduced its greenhouse gas emissions intensity by eight percent over 2006 levels in 2010 and is now committed to an additional six to eight percent intensity reduction by 2020. The company also surpassed the 17,000-tree mark in its Trees for Tracks campaign, which aims to plant a tree for every mile in its 21,000-mile network.

The report provides an overview of CSX's business as well, including the markets the company serves and its focus on customer service. Lastly, the report highlights CSX's financials in 2011 including a record-low operating ratio of 70.9 percent and capital investment of more than $2.2 billion in network maintenance and improvements. The company plans to invest $2.25 billion in 2012.

"We're proud of our performance in 2011, but remain committed to the relentless pursuit of excellence, as a business partner to our customers, a transparent community member, environmental steward and value creator for shareholders," Ward said. "Our goals for 2012 are more ambitious and our expectations of ourselves are ever higher."

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