Climate Policy Engagement Analysis
Climate Policy Engagement Overview: Union Pacific appears to have low engagement with US climate policy, with some positive and negative positioning, and limited disclosure of its recent climate policy positioning and engagement in 2021-23. The company is a member of the US Chamber of Commerce and the National Association of Manufacturers which are negatively engaged with climate policy.
Top-line Messaging on Climate Policy: Union Pacific’s top-line messaging on climate policy is limited and positive. The company’s 2022 Climate Lobbying Alignment Assessment, released in 2023, indicated support for the goals of the Paris Agreement. Statements in the company’s news releases in November 2022 indicate top-line support for greenhouse gas emissions reductions in line with a 1.5°C target. In Union Pacific’s 2022 climate action plan, released in November 2022, the company stated that it actively supported the Infrastructure Investment and Jobs Act. A blog post on its corporate website in December 2021 signalled support for “rail- and climate-friendly policies.”
Engagement with Climate-Related Policy: Union Pacific demonstrates limited engagement with climate policy, with no clear evidence of recent engagement with climate legislation or regulation. Union Pacific’s 2021 CDP response suggests support for US policy that promotes a low-carbon modal shift from road to rail for transporting goods. However, Union Pacific does not seem to transparently disclose any positions towards, or engagement with, specific climate policies on its website.
Positioning on Energy Transition: Union Pacific appears to have limited engagement with the energy transition in 2021-23. Although the company’s 2022 Climate Action Plan states general support for the decarbonization of rail transport, statements by Union Pacific appearing in the Washington Times in April 2023 strongly opposed California’s decision to enact legislation to completely decarbonize rail transportation. The year prior, a January 2022 Union Pacific press release appeared to support the general electrification of rail transport, promoting the use of battery-electric technology in US yard operations. Union Pacific advocated for an increased role for biofuel, specifically renewable diesel, in a March 2022 press release.
Industry Association Governance: Union Pacific published its first industry association review on its website in 2023, easily accessible through its investor information page. InfluenceMap analysis determined that the review did not meet investor expectations. While the review disclosed all industry associations the company is a member of, it failed to convey clear and robust governance processes with the associations, or procedures for taking action on misalignments. Union Pacific is a member of both the US Chamber of Commerce and the National Association of Manufacturers, both of which have taken actively oppositional positions on US climate policy.