Trane Technologies Accelerates Growth through Leading Sustainability Performance
14 May 2024 - 8:30PM
Business Wire
Company’s latest ESG report highlights
reduction of 157 million metric tons of customers’ carbon emissions
and 44% reduction in operational emissions since 2019 while
significantly increasing earnings per share
Trane Technologies (NYSE: TT), a global climate innovator, is
accelerating growth and delivering continued, industry-leading
financial performance while advancing the company’s bold 2030
Sustainability Commitments.
Trane Technologies’ latest Environmental, Social and Governance
(ESG) Report, Accelerating Action for Impact, highlights the
company’s relentless investment in sustainable innovation, its
uplifting, engaging culture and substantial progress toward its
externally validated 2030 Sustainability Commitments and 2050
net-zero goals. The company has reduced 157 million metric tons of
carbon from customers' emissions since 2019 while delivering a
third consecutive year of more than 20% adjusted EPS growth.
“We continue to innovate, and grow, to address climate change at
scale,” said Dave Regnery, chair and CEO of Trane Technologies. “As
we deliver on our leading, transformative climate goals, we are
driving innovation and return on investment for our customers,
uplifting our communities and positively shaping our industry.”
“Our strong sustainability performance begins with our culture,
where sustainability is integrated into every role and function and
reflects our shared belief in our ability to have a meaningful
impact,” said Paul Camuti, Chief Technology & Sustainability
Officer of Trane Technologies. “By placing sustainability at the
center of our business strategy, we are addressing global
challenges through tangible actions – scaling today’s technology
and innovating for tomorrow.”
Trane Technologies’ 2023 ESG Report is a comprehensive,
framework-aligned set of data that provides transparency and
accountability. Notable advancements made in 2023 toward Trane
Technologies’ 2030 Sustainability Commitments and other areas
include (compared to 2019 baseline unless otherwise noted):
- Gigaton Challenge: Reduced 157 million metric tons of
carbon – equivalent to the emissions generated from nearly 18
billion gallons of gasoline – from customers’ emissions toward the
Gigaton Challenge, a pledge to reduce one billion metric tons of
carbon from emissions by 2030.
- Carbon Neutrality: Reduced operational (Scope 1 and 2)
emissions by 44%, ahead of schedule toward reaching science-based
target of 50% reduction and carbon neutral operations across the
company’s footprint by 2030.
- Absolute Energy: Reduced absolute energy use by 4%
toward 10% goal, even as demand and production increased.
- Renewable Energy1: Met 68% of global electricity demand
through renewable energy sources.
- Water and Waste: Reduced water usage by 26% at
facilities in water-stressed regions for a 33% decrease in total
water use and achieved zero waste to landfill at 85% of global
manufacturing sites.
- Gender Parity: Increased women in management roles to
25.2% and achieved gender parity on Board of Directors, with women
occupying six out of 12 seats.
- Volunteerism: Completed 92,517 employee volunteer hours
in 2023, reaching 47% of our 2030 goal.
- Workforce Innovation2: Repositioned policy of tuition
reimbursement to tuition advancement to further enable
opportunities for learning by reducing the upfront financial burden
– increasing program participation by 39% compared to prior year.
Launched pioneering, skills-based Trane® Technician Apprenticeship
Program, nationally registered through the U.S. Department of
Labor, welcoming more than 80 apprentices from 26 states.
A series of prominent awards, ratings and listings also
recognized Trane Technologies for its industry-leading
sustainability performance and company culture:
- Dow Jones Sustainability Index (13th consecutive year listed on
North America Index, 3rd on World Index)
- Just Capital’s JUST 100 List (ranked 1st in Buildings Materials
& Construction industry, 56th overall)
- CDP Climate Change ‘A’ List
- Fortune’s World’s Most Admired Companies
- Corporate Knights (ranked 23 on the 2024 Global 100)
- Ethisphere® Institute’s World’s Most Ethical Companies
- Financial Times “European Climate Leaders 2023”
To read Trane Technologies’ full 2023 ESG Report, visit
tranetechnologies.com/esg.
About Trane Technologies
Trane Technologies is a global climate innovator. Through our
strategic brands Trane® and Thermo King®, and our portfolio of
environmentally responsible products and services, we bring
efficient and sustainable climate solutions to buildings, homes and
transportation. Visit tranetechnologies.com.
This news release includes “forward-looking statements” within
the meaning of securities laws, which are statements that are not
historical facts, including statements that relate to our
sustainability commitments and the anticipated impact of these
commitments. These forward-looking statements are based on our
current expectations and are subject to risks and uncertainties,
which may cause actual results to differ materially from our
current expectations. Factors that could cause such differences can
be found in our Form 10-K for the year ended December 31, 2023, as
well as our subsequent reports on Form 10-Q and other SEC filings.
New risks and uncertainties arise from time to time, and it is
impossible for us to predict these events or how they may affect
the Company. We assume no obligation to update these
forward-looking statements.
1 Calendar year 2023 metric
2 Calendar year 2023 metric
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version on businesswire.com: https://www.businesswire.com/news/home/20240514945202/en/
Media Contact: Travis Bullard +1-919-802-2593
Media@tranetechnologies.com
Investors Contact: Zachary Nagle +1-704-990-3913
InvestorRelations@tranetechnologies.com
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