Trane Technologies, a climate innovator in heating, ventilation, and air conditioning (HVAC) and transport refrigeration, has reaffirmed its commitment to net-zero emissions at the 2021 United Nations Climate Change Conference of Parties (COP26).
2050 net-zero target
As part of both the United Nations Framework Convention on Climate Change (UNFCCC) Race to Zero campaign and the Science-Based Targets initiatives (SBTi) Business Ambition for 1.5°C, Trane Technologies has committed to a 2050 net-zero target in line with global efforts to limit warming to 1.5°C.
The company already has aggressive science-based targets in place to cut product emissions by nearly 50% by 2030, reducing customers’ carbon emissions by one gigaton by the year 2030 and achieving carbon-neutral operations by the same year.
Race to Zero campaign
15 percent of global GHG emissions are related to heating and cooling buildings
The UNFCCC Race to Zero campaign takes on a high level of relevance during the COP26 conference, where Dave Regnery, CEO of Trane Technologies, will call on businesses and governments to accelerate progress towards decarbonizing buildings, homes, and refrigerated transportation by adopting sustainable technology that exists today while innovating for the future.
This is a critical aspect of reaching net-zero emissions, given that 15 percent of global GHG emissions are related to heating and cooling buildings and another nearly 10 percent comes from food loss.
Reducing carbon emissions
“The technology exists right now to significantly increase energy efficiency and reduce carbon emissions from buildings and transportation,” said Dave Regnery. “To prevent global temperature rise we must continue to consider a systems-level approach, increase the adoption and scale of existing technologies and continue to innovate for a global net-zero future.”
“Our commitment to reach net-zero emissions reinforces our belief that as we challenge what’s possible for our industry, we can change the world.”
Collaborating to deliver energy efficiency
Regnery will speak at two events at COP26 - the World Climate Summit and the Sustainable Innovation Forum - as part of ongoing climate discussions in Glasgow, Scotland.
Trane Technologies is calling for:
- The expansion and scaling up of energy-efficient technology and innovation by upgrading existing buildings, accelerating uptake of heat pumps, and integrating buildings with power grids.
- Policy and regulations that support system-level and building-level efficiency and performance, developed by key industry stakeholders and at all levels of government.
- Collaboration across industry and private sectors to build partnerships that accelerate innovation and solve key challenges to systems decarbonization.
Driving Change for a Healthy Planet
Trane Technologies was the first HVAC sector company to set science-based emissions reduction targets validated by the Science-Based Targets Initiatives (SBTi). The company is one of less than 50 companies worldwide to have achieved one set of SBTi validated targets in 2018, and then set a second aggressive course of targets for 2030 in line with the latest science.
On October 28, Dave Regnery joined nearly 100 CEOs of large multinational companies, all members of the World Economic Forum’s Alliance of CEO Climate Leaders, in an open letter to world leaders demonstrating support for decisive climate steps at COP26. Members of the Alliance employ over 8 million people and represent some of the largest companies on the planet. All members have committed to set or have already set Paris-aligned targets across their value chains.