May 6, 2022, SWORDS, Ireland--(BUSINESS WIRE) -- Trane Technologies announced that 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. Sources said the approval is a first among HVACR industry manufactures and that only 11 companies have received the approval.
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. This includes a 90 percent reduction in GHG emissions across its global operations (scope 1 and 2), and a 97 percent reduction in emissions per cooling ton from 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. 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.”
The Gigaton Challenge is 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 achievement of the company’s 2020 Climate Commitments, which reduced product emissions by more than 50 percent, and operational emissions by more than 35 percent – resulting in a more ambitious baseline for its 2030 Commitments than many other companies.
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.
