DAVIDSON, N.C.--(BUSINESS WIRE)--The annual Global Climate Change Report from CDP awarded Ingersoll Rand (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, leadership status with a final letter grade of A-. The report and grading award is based on analysis of the current state of corporate climate action.
A high score in the CDP report (scores of A or A-) distinguishes leaders in the global effort to shift to a below-2-degrees Celsius world, the maximum temperature threshold outlined in the Paris Climate Agreement. This agreement, led by the United Nations Framework Convention on Climate Change (UNFCCC), aims to stabilize greenhouse gas (GHG) concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system. Companies scoring high with the CDP have made public climate commitments and implemented emissions reduction strategies which will help achieve international goals.
“To attain the objectives outlined in the Paris Climate Agreement, companies need to weave sustainability into their business systems and work with industry partners to develop more climate-friendly solutions,” said W. Scott Tew, executive director of the Center for Energy Efficiency and Sustainability (CEES) at Ingersoll Rand. “We are honored to receive the CDP leadership status, as this recognition demonstrates our long-term commitment to address the global demand for energy resources, to reduce our carbon footprint and to achieve our own Climate Commitment goals.”
CDP, which runs a global environmental disclosure system, updated the scope and methodology of its report in light of the Paris Climate Agreement. The report now combines performance and disclosure into one score, and addresses how prepared companies are for the low-carbon transition. It serves as a baseline for companies tracking the progress of their climate action.
“The choice facing companies and investors has never been clearer: seize the opportunities of a carbon-constrained world and lead the way in shaping our transition to a sustainable economy; or continue business as usual and face serious risks,” said Paul Simpson, CEO of CDP.
This recognition highlights Ingersoll Rand’s proactive work to develop energy-efficient solutions and refrigerant alternatives that will help reduce harmful GHG emissions. In addition to this award, in 2016 Ingersoll Rand was also listed on the FTSE4Good Index Series, named to the 2016 Dow Jones Sustainability World and North America Indices and recognized on Green Builder Magazine’s annual list of Eco Leaders.
Ingersoll Rand Climate Commitment
Ingersoll Rand made a commitment to significantly reduce GHG emissions from its products and operations by 2030. The company’s Climate Commitment pledges to:
- Cut the refrigerant GHG footprint of its products by 50 percent by 2020 and incorporate lower global warming potential (GWP) alternatives across its portfolio by 2030;
- Invest $500 million in product-related research and development over the next five years to fund the long-term reduction of GHG emissions; and
- Reduce company operations-related GHG emissions by 35 percent by 2020.
To date, the 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.
In support of the commitment, Ingersoll Rand launched EcoWise™, a portfolio of products designed to lower environmental impact with next-generation, low-global warming potential refrigerants and high efficiency operation. 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.