SAN FRANCISCO--(BUSINESS WIRE)--Ingersoll Rand (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, announced today it will commit to the Clean Energy Ministerial (CEM) Advanced Cooling Challenge (ACC).
The commitment includes a $500 million investment in product-related research and development by 2020 to fund the long-term reduction of greenhouse gas emissions (GHG) through its transport refrigeration and heating, ventilating and air-conditioning (HVAC) solutions.
“We believe in the mission to provide high-efficiency, climate-friendly and accessible cooling products to markets around the world,” said Dave Regnery, president of Ingersoll Rand’s Commercial HVAC business for North America, Europe, Middle East and Africa. “Nearly half of the world’s energy is used in industrial, commercial and residential buildings, with the HVAC and lighting systems being the greatest opportunity for improvement. We believe Ingersoll Rand can make a difference by helping building owners address this critical issue.”
Ingersoll Rand also committed to reducing GHG emissions from its operations by 35 percent by 2020. A central strategy for achieving these targets is applying energy services and building automation systems from its Trane Building Advantage brand to improve the efficiency of their own facilities with high-efficiency, smart and climate friendly building energy management systems and Trane cooling equipment.
The ACC was designed to urge governments, companies and other stakeholders to make, sell, or install super-efficient air conditioner or cooling solutions that are smart, climate-friendly and affordable. The challenge was created as a call to action, recognizing that access to cooling improves health, productivity, economic growth and education.
Regnery presented the company’s commitment at the event today.
Ingersoll Rand Climate Commitment
The ACC commitments made by Ingersoll Rand align with the company’s climate commitment. The commitment is designed to reduce GHG emissions from products and operations by 2030. The Ingersoll Rand Climate Commitment pledges to:
- Cut the refrigerant GHG footprint of its products by 50 percent by 2020 and incorporate lower-global warming potential alternatives across its portfolio by 2030;
- Invest $500 million in product-related research and development by 2020 to fund the long-term reduction of GHG emissions; and
- Reduce company operations-related GHG emissions by 35 percent by 2020.
To date, the company’s Climate Commitment has supported the avoidance of approximately 2 million metric tons of CO2e globally, which is the equivalent of avoiding annual CO2 emissions from energy used in more than 270,000 homes or more than 2.1 billion pounds of coal burned. By 2030, the company expects to reduce its carbon footprint by 50 million metric tons.
About Ingersoll Rand
Ingersoll Rand (NYSE:IR) advances the quality of life by creating comfortable, sustainable and efficient environments. Our people and our family of brands — including Club Car®, Ingersoll Rand®, Thermo King® and Trane® — work together to enhance the quality and comfort of air in homes and buildings; transport and protect food and perishables; and increase industrial productivity and efficiency. We are a $13 billion global business committed to a world of sustainable progress and enduring results. For more information, visit www.ingersollrand.com.
About Clean Energy Ministerial
The Clean Energy Ministerial (CEM) is a forum of the world’s largest and most forward-leaning countries working together to accelerate the global transition to clean energy. Launched in 2010, the U.S. hosted the first ministerial meeting in Washington D.C. The participating energy ministries include Australia, Brazil, Canada, China, Denmark, the European Commission, Finland, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Norway, Russia, Saudi Arabia, South Africa, Spain, Sweden, the United Arab Emirates, the United Kingdom, and the United States.