Trane Technologies Now Net-Zero Approved by Science Based Targets Initiative

Published on: 07 May 2022
by KnowESG

Trane Technologies, an industrial manufacturing company, has joined 11 companies worldwide having net-zero carbon emissions targets approved by the Science Based Targets initiative (SBTi), an association of the Carbon Disclosure Project, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature.

The company aims to achieve net-zero GHG emissions across its value chain by 2050, from a 2019 baseline. It includes a 90 per cent reduction in scope 1 and 2 GHG emissions, a 97 per cent reduction in scope 3 emissions and neutralising emissions that are not eliminated.

Trane Technologies chair and CEO Dave Regnery, said:

"We are 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. 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."

"Recognising 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 glide path 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, a pledge to reduce customer carbon emissions by one billion metric tonnes, is one of Trane Technologies' 2030 Sustainability Commitments, 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 objectives follow the company's achievement of its 2020 Climate Commitments, which saw product emissions drop by more than 50% and operational emissions drop by more than 35%, resulting in a more aggressive baseline for its 2030 Commitments than many other corporations.

Transform Tomorrow, Today, Trane Technologies' latest ESG report, contains information on the company's environmental and social sustainability performance. According to the report, the company met annual milestones on the glide path to achieving its Gigaton Challenge and annual targets toward carbon-neutral operations in 2021.

Trane Technologies has a long history of setting the standard for efficient and sustainable heating and cooling solutions for buildings, residences, and transportation. In 2021, the firm was named to the Dow Jones Sustainability Indices for the 11th year in a row, was named a JUST 100 Company, received a Gold award for EcoVadis, and was ranked on Fortune's World's Most Admired Companies for the 10th consecutive year, among other honours.

Source: Trane Technologies