Trane Technologies, a global climate innovator, announces it is the first in its industry, and one of just 11 companies worldwide to date, to have its net-zero carbon emissions targets approved by the Science Based Targets initiative (SBTi), a coalition of the Carbon Disclosure Project, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature.
As a net-zero approved company, Trane Technologies commits to reaching net-zero GHG emissions across its value chain by 2050 from a 2019 baseline.
Science-Based targets
This includes a 90% reduction in GHG emissions across its global operations (scope 1 and 2), and a 97% reduction in emissions per cooling ton from the use of the company’s products (scope 3), as well as neutralizing emissions that are not eliminated.
“We’re extremely proud to be one of the world’s first companies to have our net-zero commitment aligned with science and validated by the SBTi’s rigorous process,” said Trane Technologies Chair and CEO, Dave Regnery. “We started our sustainability journey long before green was a trend; we set our 2020 Climate Commitments, with our first science-based targets back in 2014 and met them early by accelerating innovation. Recognizing there was no time to waste for climate action, we put a stake in the ground and set even bolder goals in 2019 – our 2030 Sustainability Commitments – including our Gigaton Challenge. Our progress on our near-term 2030 goals puts us on a glidepath toward net-zero by 2050.”
Reducing carbon emissions
Trane Technologies’ 2030 Sustainability Commitments include the Gigaton Challenge
“We invite more companies to join us as we act now to preserve our planet and pursue our purpose to boldly challenge what’s possible for a sustainable world.”
Trane Technologies’ 2030 Sustainability Commitments include the Gigaton Challenge, a pledge to reduce customer carbon emissions by one billion metric tons, as well as goals to lead by example with carbon-neutral operations, zero waste to landfill, and net-positive water use in water-stressed locations across its global footprint. These goals follow the achievement of the company’s 2020 Climate Commitments, which reduced product emissions by more than 50%, and operational emissions by more than 35% – resulting in a more ambitious baseline for its 2030 Commitments than many other companies.
Social sustainability performance
Trane Technologies recently released its latest ESG report, Transform Tomorrow, Today, which includes detailed data on the company’s environmental and social sustainability performance. The report highlights that in 2021 the company exceeded annual targets on the glidepath to achieving its Gigaton Challenge, and its annual targets toward carbon-neutral operations.
Trane Technologies has a long history as a pacesetter for efficient and sustainable solutions to heat and cool buildings, homes, and transport. In 2021, the company was listed on the Dow Jones Sustainability Indices for the 11th consecutive year, ranked as a JUST 100 Company, a Gold medal winner for EcoVadis, and was ranked on Fortune’s World’s Most Admired Companies for the 10th consecutive year, among other accolades.