Investment management firm Sustainable Growth Advisers (SGA) disclosed in its Q2 2026 investor letter that Canadian Pacific Kansas City (CP) reaffirmed its existing goal to reduce locomotive "well-to-wheel" emissions intensity by 36.9% by 2030. SGA learned during discussions with CP management about their climate strategy that the company has postponed setting a Science Based Targets initiative (SBTi) validated 1.5°C emissions reduction target because SBTi has not yet finalized its intensity-based methodology for the freight rail industry. CP emphasized that it will continue to invest in locomotive fleet modernization, hydrogen-powered locomotive projects, and renewable fuel trials, and will continue to collaborate with SBTi.