2023-06-07

Trane Technologies Unveils its 2022 ESG Report

The 2022 ESG Report captures a first look at Trane Technologies’ Net-Zero Roadmap and details how it met or exceeded annual targets toward its 2030 Sustainability Commitments.
 

Trane Technologies (NYSE: TT), a global climate innovator, has recently released its 2022 Environmental, Social and Governance (ESG) Report, taking a first look at its Net-Zero Roadmap to decarbonise across its entire value chain by 2050.

2022 was a strong year for Trane Technologies as the company advanced its strategy to lead sustainably. The latest ESG report, titled Ambition. Action. Impact., also highlights Trane Technologies’ remarkable advancements toward its bold greenhouse gas (GHG) emissions reduction targets, diversity and inclusion commitments, as well as other sustainability goals.

“We are propelled by our purpose to boldly challenge what’s possible for a sustainable world,” said Mr Dave REGNERY, Chair and Chief Executive Officer of Trane Technologies. “Our bold ambition drives action and positive, lasting impact for our team, customers, shareholders, communities, and the planet.”

Trane Technologies is uniquely positioned to pioneer a movement to help the world decarbonise and tackle climate change. In 2022, Trane Technologies became the first in its industry – and one of the first 11 firms globally – to have its net-zero carbon emissions targets approved by the Science-Based Targets Initiative (SBTi).

Trane Technologies continues to set the precedent for industry-leading sustainability and transparency with its Net-Zero Roadmap. The decarbonisation transition plan outlines the steps the company is taking to achieve its SBTi-validated net-zero carbon target. Actions include expanding the use of renewable energy at its facilities, increasing efficiency across its operations, transitioning to low-global warming potential refrigerants, accelerating the electrification of heating and cooling through innovative technologies and solutions, and more.

Key figures from the 2022 ESG Report include the following notable advancements made toward the company’s 2030 Sustainability Commitments, all as compared with its 2019 baselines:
  • Gigaton Challenge1  – Reduced 93 million metric tons of CO2e from customers’ emissions, toward the goal of reducing 1 gigaton of customer GHG emissions by 2030.
  • Carbon Neutrality – Reduced 129,506 metric tons (or 31%) of operational emissions, toward the goal of achieving carbon-neutral operations across the company by 2030.
  • Energy Intensity and Renewable Energy – Improved total energy efficiency/intensity by 18% from 2019, on track toward the goal of achieving 10% absolute reduction in energy consumption by 2030; and 56% of the company’s electricity demand met with renewables.

Additional 2022 ESG progress highlights from Ambition. Action. Impact.:
  • Waste Reductions – Achieved zero waste to landfills at 31 locations (82% of the company’s global manufacturing facilities) in 2022.
  • Water Use – Reduced water usage by 22% since 2019 at facilities in water-stressed regions, with a 16.7% decrease in water use overall.
  • Circularity – 2,424 metric tons of solid waste was avoided from returnable packaging projects in 2022.
  • Gender Parity – Five of the 13 members on the Board of Directors were women. Over 26% of leadership positions were held by women, up 3.1 percentage points from 2019.
  • Diversity – Increased the racial and ethnic diversity of the company’s salaried population from 18% to nearly 20% in 2022.

In 2022, Trane Technologies won recognition through a series of prominent awards, ratings, and listings for its industry-leading sustainability performance and company culture:
  • Dow Jones Sustainability Index (listed for 12 consecutive years)
  • Just Capital’s JUST 100 List (ranked 1st in Buildings Materials & Construction industry)
  • CDP ‘A’ List (named among top 2% of companies)
  • Forbes’ World’s Best Employers
  • Fortune’s World’s Most Admired Companies (for the 11th consecutive year)
  • Fortune’s Best Workplaces in Manufacturing & Production
  • Reuters 2022 Responsible Business Awards Finalist – Sustainability Trailblazer Award
  • Financial Times “European Climate Leaders 2022”
  • Military Times Best Employers for Veterans
  • Human Rights Campaign – Corporate Equality Index
  • The Irish Times Top 1,000 Companies

To see the full ESG report, visit tranetechnologies.com/esg.
 
1 Trane Technologies is reducing one gigaton (1 billion metric tons) of carbon emissions (CO2e) from its customers’ footprint by 2030.