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  "documentTitle": "Union Pacific Corporation (UNP)",
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  "authorName": "Eric Mandelblatt",
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  "presentationDate": "2023-02-22 00:00:00",
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  "notes": "Includes a table of specific Class I railroad emissions savings and a visual comparison of the total savings impact.",
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      "text": "Efficiently run railroads are key in the fight against climate change, as railroad growth will largely come at the expense of the less environmentally friendly alternative (trucks)",
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      "text": "Share shift opportunity is significant",
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      "text": "Share shift opportunity is significant: % of Total US Freight",
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      "text": "Contextualizing ~124 million metric tons of carbon emissions savings per year",
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      "text": "Source: Soroban estimates, Association of American Railroads, company reports, EPA's \"Greenhouse Gas Equivalencies Calculator.\" Note: UNP, CSX, NSC, CNI, CP, and KSU represent Scope 1 GHG emissions in 2021. BNSF represents Scope 1 & 2 GHG emissions in 2019.",
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      "text": "Railroads are significantly “greener” than trucks... Today, North American Class I railroads are significantly reducing global carbon emissions... yet rails only ship ~8% of US freight... While rails are unlikely to ever capture all truck market share, small shifts from a low base have a significant impact.",
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      "text": "carbon emissions savings: 124 million",
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      "kind": "quote",
      "text": "“...freight railroads account for just 0.5% of total U.S. greenhouse gas emissions and just 1.9% of transportation-related greenhouse gas emission” — US Environmental Protection Agency and Association of American Railroads",
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      "text": "Rails contribute to ~124 million metric tons of carbon emissions savings per year",
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      "kind": "title",
      "text": "“Golden age of railroading growth” (3/4): increasing focus on scope 3 greenhouse gas emissions",
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