Accelerating Action for Impact - Trane Technologies Accelerates Growth Through Leading Sustainability Performance

Rhea-AI Summary

Trane Technologies announced strong growth and sustainability achievements in its latest ESG Report, titled 'Accelerating Action for Impact.' The company has made significant strides toward its 2030 Sustainability Commitments and 2050 net-zero goals, including a 44% reduction in operational emissions, a 4% decrease in absolute energy use, and meeting 68% of global electricity demand through renewable sources. Additionally, Trane achieved gender parity on its Board of Directors and increased women in management roles to 25.2%. The report also highlighted the reduction of 157 million metric tons of carbon emissions from customer operations, significant water use reductions, and advances in workforce development programs.

Positive

• 44% reduction in operational emissions, ahead of the 50% target for 2030.
• 4% decrease in absolute energy use, despite increased demand and production.
• 68% of global electricity demand met through renewable energy sources.
• Reduction of 157 million metric tons of carbon emissions from customer operations.
• Achieved zero waste to landfill at 85% of global manufacturing sites.
• 26% reduction in water usage at facilities in water-stressed regions.
• Gender parity achieved on the Board of Directors, with women occupying 50% of the seats.
• Increased women in management roles to 25.2%.
• Completed 92,517 employee volunteer hours in 2023.
• Repositioned tuition reimbursement to tuition advancement, increasing participation by 39%.

Negative

• Absolute energy reduction of 4% is still short of the 10% goal for 2030.
• Operational emissions target of 50% reduction not yet fully achieved.
• Despite significant progress, only 68% of electricity demand met by renewable sources, indicating room for improvement.

NORTHAMPTON, MA / ACCESSWIRE / May 22, 2024 / Trane Technologies 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.

"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."

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.

¹Calendar year 2023 metric
²Calendar year 2023 metric

Media Contact:
Travis Bullard
919-802-2593

Read More

View additional multimedia and more ESG storytelling from Trane Technologies on 3blmedia.com.

Contact Info:
Spokesperson: Trane Technologies
Website: https://www.3blmedia.com/profiles/trane-technologies
Email: info@3blmedia.com

SOURCE: Trane Technologies

View the original press release on accesswire.com

FAQ

What are the main achievements in Trane Technologies' 2023 ESG Report?

The main achievements include a 44% reduction in operational emissions, a 4% decrease in absolute energy use, 68% of global electricity demand met by renewable sources, and gender parity on the Board of Directors.

How much has Trane Technologies reduced its carbon emissions?

Trane Technologies has reduced 157 million metric tons of carbon emissions from customer operations as part of its Gigaton Challenge.

What progress has Trane Technologies made towards gender parity?

Trane Technologies has achieved gender parity on its Board of Directors and increased women in management roles to 25.2%.

What are the renewable energy achievements of Trane Technologies?

Trane Technologies met 68% of its global electricity demand through renewable energy sources in 2023.

What is the current status of Trane Technologies' operational emissions reduction?

Trane Technologies has achieved a 44% reduction in operational emissions, moving towards its 50% reduction target by 2030.