Titanium Transportation Group Inc.
Climate Impact & Sustainability Data (2024-03-31)
Reporting Period: 2024-03-31
Environmental Metrics
ESG Focus Areas
- Fleet safety
- Environmental stewardship
- Sustainable contractual pricing
Social Achievements
- Share purchase plan for employees and independent contractors
Climate Goals & Targets
Long-term Goals:
- Anticipating freight market conditions to improve by end of 2024
Medium-term Goals:
- Realize savings in fleet maintenance of about 15% over the next three years
Short-term Goals:
- Reduce net debt level for the balance of 2024
- Return to positive working capital within the year
Environmental Challenges
- Overcapacity in the freight transportation sector
- Inflationary impacts on input costs
- End market uncertainty
- Decline in freight demand and volumes
- Decrease in freight rates
- Margin compression
Mitigation Strategies
- Strategic commitment to sustainable rates
- Shifted capacity to more sustainable or flexible markets
- Divested redundant assets (21 acres of undeveloped land in Cornwall, ON)
- Focus on capital management strategy
- Debt reduction
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: IFRS