SWORDS, Ireland--(BUSINESS WIRE)--Trane Technologies (NYSE:TT), a global climate innovator, has been named to the Financial Times 2023 Europe’s Climate Leaders list for the third consecutive year.
The prestigious list, compiled by the Financial Times and market research company Statista, recognizes European businesses that have made the most progress in reducing greenhouse gas emissions intensity in their own operations, referred to as Scope 1 and 2 emissions. This year’s list draws on other metrics for the first time, including Scope 3 emissions, which occur elsewhere in the value chain, and businesses’ transparency on reporting these emissions. Statista reviewed publicly available data on approximately 2,000 European companies.
“As a climate innovator, we take action every day to deliver on our bold commitments, reducing both our own, and our customers’ carbon footprints across the globe,” said Dave Regnery, chair and CEO, Trane Technologies. “This recognition further validates the leadership role we play in decarbonizing homes, buildings and the cold chain.”
Last December, the company transitioned away from fossil fuel-based heating in its Trane® Commercial manufacturing facility in Charmes, France with the installation of an electrified Thermal Management System that leverages innovative heat pump technologies to provide all-electric heating to the entire site and simultaneous heating and cooling when required. The system is expected to reduce 1,800 metric tons of carbon emissions annually.
“We’re helping our customers understand that the technology exists today to reduce or even eliminate fossil fuels for heating,” said Regnery. “The electrification of heating made possible with our innovative Thermal Management systems is a better alternative that can dramatically decarbonize the built environment, while also providing significant energy savings.”
Trane Technologies is also focused on reducing waste sent to landfills throughout the organization. As of year-end 2022, all European manufacturing facilities achieved zero waste to landfills in alignment with Zero Waste International Alliance’s definitions. The Charmes facility has achieved zero waste to landfill for the past six consecutive years.
Trane Technologies’ 2030 Sustainability Commitments include its Gigaton Challenge, the largest climate commitment related to product emission reductions within a single decade of any company globally, which pledges to reduce one gigaton (one billion metric tons of carbon) from its customers’ carbon footprints – equivalent to the annual emissions of Italy, France and the U.K. combined. Trane Technologies is the first company in its industry and among the first across all sectors to receive validation from the Science Based Targets Initiative (SBTi) for its near-term 2030 emissions reduction targets and its long-term 2050 net-zero target.
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 innovations to reduce greenhouse gas emissions and landfill waste, and our other 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, 2022, 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.