CSX publishes 2016 corporate responsibility report

CSX Corp. late last week released its seventh annual corporate social responsibility report documenting the Class I's performance in environmental, social and governance areas.

Titled "Moving Forward," the report highlights the company's 2016 business practices aimed at creating customer value, increasing shareholder returns, improving the environment and enhancing the communities that the railroad serves, CSX officials said in a press release.

"With increasing consumer demand, the need for freight rail as a safe, reliable and sustainable transportation solution is ever more pressing," said President and Chief Executive Officer E. Hunter Harrison. "By leveraging our sustainability initiatives and implementing the Precision Scheduled Railroading model at CSX, we will continue to build upon the foundation for success."

Last year, CSX generated $11.1 billion in net revenue and invested $2.7 billion to enhance the overall safety, capability and reliability of its network.

For example, one way the railroad improved safety in 2016 was by providing training and resources to nearly 7,000 first responders. Additionally, CSX's partnership with Operation Lifesaver Inc. reached nearly 725,000 people with in-person rail safety messages.

On the environment, CSX reported that it improved its fuel efficiency through management processes and advanced technology solutions. Between 2007 and 2016, CSX spent nearly $2.8 billion on fuel efficiency measures. In 2016, CSX moved a ton of freight an average of 474 miles on a single gallon of fuel.

At the local level, the company gave back to communities it serves in a number of ways last year. For instance, CSX invested more than $16 million in grants, sponsorships and in-kind donations to local organizations and national partners that share CSX's values concerning safety, community, environment and wellness.

In addition, CSX employees logged 18,025 hours of volunteer service through the company’s "Dollars for Doers" program, which was matched by CSX with $85,770 in grants to 155 employee-selected organizations.

CSX prepared "Moving Forward" in accordance with Global Reporting Initiative Standards.