NS publishes report on green bond project

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Written by

Marybeth Luczak, Editor-in-Chief

Norfolk Southern (NS) has released a report on the sustainability initiatives funded by its May 2021 issuance of $500 million in green bonds.

On May 11, Nova Scotia announced that it has allocated $496 million of net proceeds from its Green Bonds to fund eligible projects, as defined in its Green Funding Framework. This includes:

$275.6 million for DC to AC conversions of locomotives. By 2025, Wabtec will have participated in the modernization of more than 950 GE Dash 9-44CW units for NS.

• $10.9 million for locomotive fuel management. NS said this directly supports its scientific goal of reducing carbon emissions intensity by 42% by 2034.

The GP34ECO is powered by a 3,000hp 12-710 EMD engine, according to contributors Norfolk Southern and Progress Rail.

$1.4 million for a GP34 ECO sorting unit. In September 2021, NS partnered with Progress Rail, a Caterpillar company, on the unit, which is powered by a 3,000 hp EMD 12-710 engine and uses the “first diesel exhaust fluid (DEF) / selective catalytic reduction (SCR) after-treatment system intended for line haul locomotive applications,” the companies said.

• $99.5 million for improving intermodal facilities. This work “will further support efforts to move millions of tons of freight on the railroad to decongest our nation’s highways,” Class I said. (Earlier this year, for example, NS completed the installation of five diesel-electric hybrid overhead cranes at Chicago intermodal terminals. ., international intermodal terminals in an effort to ease pandemic-related congestion.)

• $97.8 million for the rail, ties and ballast program. “Consistent with recent practice,” NS indicated that it “expects to continue to recycle 100% of used rail and ties. About 50% of the shoulder weight used is recovered, filtered and reused. »

• $6.5 million for siding extensions.

• $0.9 million for shoreline restoration and $3.4 million for the restoration of watercourse and wetland ecosystems. Nova Scotia’s “living shoreline along the Elizabeth River at our Lamberts Point terminal in Norfolk, Virginia provides habitat for oysters, river otters, shorebirds and other wildlife” , reported the Class I Railroad. “In partnership with the Elizabeth River Project – a non-profit organization whose mission is to protect the water quality of the river – we have produced a 900-foot sill linear stretches of stone, sand, marsh grasses and oyster shells placed in the waters of the Elizabeth River to limit future erosion.In addition, the 14,405-acre Brosnan Forest near Charleston, SC, is l location of Nova Scotia’s Coldwater Branch Stream Mitigation Project – an effort that restored 500 acres of wetlands and more than six miles of stream habitat while protecting an additional 600 acres of upland habitat.”

Mark George, Executive Vice President and Chief Financial Officer of NS (to the left); Josh Raglin, NS Sustainability Director

“Our industry-first green bond offering funds projects that align our efforts to reduce carbon emissions and advance sustainable business practices, while delivering long-term value for our clients, communities and our shareholders,” Mark Mark, Executive Vice President and Chief Financial Officer of NS said Georges.

“Norfolk Southern intends to build on its industry-leading position to deliver a low-carbon economy while helping customers reduce emissions in their supply chain,” said Josh Raglin. , director of sustainable development for Nova Scotia.

Download the Nova Scotia Green Bond Project report here:

Download Nova Scotia’s Green Financing Framework here:

Separately, NS announced late last month that its new headquarters in Atlanta, Georgia had received LEED® Gold certification for sustainable design and construction.

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