CANADIAN PACIFIC KANSAS CITY LTD
CP
Industrials
3
exclusion reasons
3 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
CPKC has documented history of prioritizing operational throughput over mandated safety rest periods. In June 2023, Federal Court found railway guilty of contempt for 22 instances of intentionally overworking train crews beyond 10-12 hour limits. Though Federal Court of Appeal acquitted in Aug 2024 on criminal contempt (did not dispute violations occurred). Teamsters documented "thousands of situations continue annually" where crews not relieved on time. In Feb 2026 (FCA 42), court dismissed CPKC's attempt to overturn constructive dismissal ruling for worker falsely classified as "manager" to avoid Canada Labour Code protections.
Throughout 2024-2025, CPKC faced aggressive litigation from the Coalition to Stop CPKC representing Chicago-area communities. Despite STB merger approval, investigative findings in 2025 showed the railway failed to implement required mitigation for noise and air pollution in disadvantaged environmental justice communities along its 20,000-mile network.
TSB identified fatigue as a factor in over 32 rail occurrences involving CPKC infrastructure. Despite new "Duty and Rest Period Rules" (May 2023), the 2024-2025 labor disputes including the August 2024 national lockout centered on company's push to remove safety-critical fatigue provisions from collective agreements.
Research Sources
1 organization
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
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