Open Joint Stock Company «Russian railways» is actively implementing projects to create innovative traction rolling stock that is safe for the environment and people, which is in good agreement with the goals of sustainable development. For effective management, comprehensive assessment and justification of the main directions for the development of locomotive traction, it is necessary to create a system of balanced environmental indicators. The issues of ensuring fire safety of locomotives remain relevant. The purpose of the work is to form a system of balanced environmental indicators for innovative traction railway rolling stock, taking into account fire safety requirements. The analysis of the activities of the world's largest railway companies in the field of environmental safety is carried out. The concept of balanced ecological development in the field of development and operation of innovative locomotives is presented. It is determined that the problems of environmental protection are considered separately from the issues of fire safety. An analysis of the concept of «balanced environmental development» is presented. The importance of the «Fire safety» criterion in the system of priorities for the development of traction rolling stock has been determined. Indicators that take into account fire safety requirements are presented. The expediency of their inclusion in the system of balanced environmental indicators is substantiated. Their characteristics are given. A methodology for calculating the effectiveness of implementing environmental and fire safety requirements for newly developed locomotives is proposed.