Company Announcements

Global climate innovator expands 2030 Sustainability Commitments with precedent-setting goal, building on leadership in sourcing sustainable materials

Industry-first commitment to play crucial role in lowering carbon footprint of buildings

SWORDS, Ireland--(BUSINESS WIRE)--Sep. 23, 2024-- Trane Technologies (NYSE: TT), a global climate innovator, today announced a commitment to reduce embodied carbon by 40% by 2030, an industry first. Building on its leadership in sourcing more sustainable solutions like low-carbon steel, Trane Technologies will focus its efforts on partnering with suppliers of materials used in buildings and building equipment including steel, aluminum, copper and refrigerants, while continuing to incorporate circular design criteria into its product development projects.

Buildings are currently responsible for 40% of global energy related carbon emissions. A critical step in lowering the overall carbon footprint of buildings is to reduce their amount of embodied carbon, which is the total amount of greenhouse gas emissions associated with a product’s lifecycle, including the extraction of raw materials, manufacturing, transportation and recycling of materials and products.

“To create a more sustainable world, we must address emissions from the built environment – everything from reducing embodied carbon to the electrification of heating to optimizing energy with digital solutions,” said Dave Regnery, chair and CEO of Trane Technologies. “We are proud to be a first mover, partnering with our suppliers to scale more sustainable materials, designing our products for circularity and helping our customers achieve their performance and sustainability goals.”

“Bridging operational and embodied carbon is a vital prerequisite for decarbonizing the built environment, and HVAC systems play a crucial role in our shared vision for a net-zero future,” said Diane Holdorf, executive vice president, Pathways, World Business Council for Sustainable Development. “There is no decarbonizing our future without decarbonizing buildings, and we are proud to collaborate with industry leaders like Trane Technologies who are helping drive significant carbon footprint reductions for themselves and their customers.”

The new embodied carbon commitment aligns with guidance from global non-profit building sector organizations. It builds on the company’s 2030 Sustainability Commitments, with a baseline year of 2019, including the Gigaton Challenge, a pledge to reduce customer greenhouse gas emissions by 1 billion metric tons (or, one gigaton) – the largest science-based climate commitment of any global company related to product emission reductions within a single decade. The company has also pledged to be net-zero by 2050, and its near and long-term emissions reduction targets have been externally validated by the Science Based Targets Initiative (SBTi).

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 decarbonization efforts, our sustainability commitments and the 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240923474257/en/

Media Contact:
Travis Bullard
+1-919-802-2593
Media@tranetechnologies.com

Investors Contact:
Zachary Nagle
+1-704-990-3913
InvestorRelations@tranetechnologies.com

Source: Trane Technologies