North America (Change)

The Board of Directors of CN is pleased to announce measures that will reinforce the Company’s status as a leader in Environmental, Social, and Governance (ESG) among North American Class 1 railroads and across the transportation sector, including improvements to the effectiveness, transparency and accountability of the Board in line with emerging best practices. Our longer-term goal is to be at the leading edge of ESG best practices across North America and globally.  The new ESG measures include the creation of the CN Indigenous Advisory Council, an annual advisory vote on CN’s climate change action plan, and a commitment to a Board of Directors that has at least 50 percent of the independent directors come from diverse groups, including gender parity, in 2022.  They also encompass a revamping of governance policies to reduce the age limit and tenure of Directors, to restrict further the number of other boards on which Directors can serve, and to reduce the size of the Board.

CN Undertakes Major New Environmental, Social and Governance Initiatives, February 24, 2021, www.cn.ca