Trane Technologies Calls for Accelerated Climate Action, Increased Transparency at COP28

Rhea-AI Summary

Trane Technologies (NYSE:TT) will advocate for accelerated climate policy and transparent emissions reporting at COP28 in Dubai. The company encourages bolder accountability in line with the United Nations Sustainable Development Goals, including Gender Equality, Affordable Clean Energy, and Climate Action. Trane Technologies is a member of the World Economic Forum’s Alliance of CEO Climate Leaders and a signatory of its COP28 open letter. The company recently announced key commitments to reduce embodied carbon in its supply chain and received notable recognitions for climate action, including a grade of A in As You Sow’s 2023 Road to Zero Emissions Report and recognition as a Corporate Climate Policy Engagement Leader by InfluenceMap.

Positive

• Advocating for accelerated climate policy and transparent emissions reporting at COP28
• Member of the World Economic Forum’s Alliance of CEO Climate Leaders and a signatory of its COP28 open letter
• Recently announced key commitments to reduce embodied carbon in its supply chain
• Received notable recognitions for climate action, including a grade of A in As You Sow’s 2023 Road to Zero Emissions Report and recognition as a Corporate Climate Policy Engagement Leader by InfluenceMap
• Advancing its 2030 Sustainability Commitments, including the Gigaton Challenge and pledge to be net-zero by 2050

Negative

• None.

SWORDS, Ireland--(BUSINESS WIRE)-- Trane Technologies (NYSE:TT), a global climate innovator, will underscore the critical need for adoption of new and existing solutions at scale, accelerated climate policy and transparent emissions reporting during COP28 in Dubai, November 30 – December 12. As the window for limiting global warming to 1.5°C continues to narrow, Trane Technologies steadfastly encourages bolder accountability in line with the United Nations Sustainable Development Goals – including Gender Equality (SDG5), Affordable Clean Energy (SDG7) and Climate Action (SDG13).

“Accelerating decarbonization requires not only innovation, but also advocating for policies that remove barriers and support adoption at scale,” said Scott Tew, vice president of Sustainability, Trane Technologies. “Companies around the world, across all sectors, must be held accountable for meeting commitments and driving urgent action now as we collectively work toward a more sustainable future.”

Trane Technologies is a proud member of the World Economic Forum’s Alliance of CEO Climate Leaders and a signatory of its COP28 open letter, calling for an increase in public-private collaboration and action to reduce emissions across global value chains. Trane Technologies leaders will join several climate action dialogues throughout COP28, including:

• Raising Ambition and Leveraging Opportunity – Financing and Innovating Industry Decarbonization: Jose La Loggia, president, Commercial HVAC EMEA, Trane Technologies (Dec. 4, 5:25pm GMT, livestream available upon registering)
• Accelerating Climate Innovation for a More Sustainable World: Adnan Javed, general manager, Middle East & Africa, Commercial HVAC EMEA, Trane Technologies (Dec. 5, 3:20pm GMT, livestream available upon registering)
• Disrupting Climate Trends Through Next-Generation Leadership – Advancing Innovation, Policy and the Workforce to Meet Ambitious Goals for a More Sustainable Future: Helen Walter-Terrinoni, director of global policy, Trane Technologies (Dec. 6, 9:00am GMT, livestream available)
• Reducing the Emissions of Cities through Better Building Management and Clean Transport: Scott Tew, vice president of Sustainability, Trane Technologies (Dec. 6, 2:00pm GMT, livestream available)

The company recently announced it has delivered on key commitments to reduce embodied carbon in its supply chain – shipping more than one million HVAC units with low-carbon steel to homeowners and commercial customers across the U.S – in addition to providing fully electric, zero direct emission refrigeration solutions for every segment of the cold chain in the Europe, Middle East and Africa region by 2023.

“The technology exists today that can dramatically reduce emissions for both our own and our customers’ environmental footprints,” said Jose La Loggia, president, Commercial HVAC EMEA, Trane Technologies. “Innovative thermal management systems, renewable energy sources and the electrification of heating are becoming game-changing solutions for the built environment – enabling energy security while improving efficiency.”

Broadly acknowledged for its industry-leading transparency, credibility and accountability, Trane Technologies has recently received several notable recognitions for climate action. The company was one of only four to earn a grade of A in As You Sow’s 2023 Road to Zero Emissions Report, which evaluates greenhouse gas (GHG) emission disclosures, GHG target setting and GHG reductions. Trane Technologies was also one of only five North American companies recognized by InfluenceMap as a 2023 Corporate Climate Policy Engagement Leader, after meeting its criteria for positive and active climate policy engagement aligned with science-based pathways for delivering on the goals of the Paris Agreement.

Through bold, industry-leading action, Trane Technologies is advancing its 2030 Sustainability Commitments, including the Gigaton Challenge – a pledge to reduce customer greenhouse gas emissions by 1 billion metric tons (or, one gigaton) – and its pledge to be net-zero by 2050. In 2014, the company set its first science-based 2020 Climate Commitments – accelerating innovation to achieve them two years ahead of schedule. The company is first in its industry with near and long-term emissions reduction targets 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. For more on Trane Technologies, visit www.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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231130687589/en/

Media Contact:

Travis Bullard

+1-919-802-2593

Travis.Bullard@tranetechnologies.com

Investors Contact:

Zachary Nagle

+1-704-990-3913

InvestorRelations@tranetechnologies.com

Source: Trane Technologies

FAQ

What is Trane Technologies' ticker symbol?

The ticker symbol for Trane Technologies is TT on the New York Stock Exchange (NYSE).

What are Trane Technologies' key commitments to reduce embodied carbon in its supply chain?

Trane Technologies has shipped more than one million HVAC units with low-carbon steel to homeowners and commercial customers across the U.S. The company also provides fully electric, zero direct emission refrigeration solutions for every segment of the cold chain in the Europe, Middle East and Africa region by 2023.

What notable recognitions has Trane Technologies received for climate action?

Trane Technologies was one of only four to earn a grade of A in As You Sow’s 2023 Road to Zero Emissions Report and was recognized as a 2023 Corporate Climate Policy Engagement Leader by InfluenceMap.

What are Trane Technologies' 2030 Sustainability Commitments?

Trane Technologies is advancing its 2030 Sustainability Commitments, including the Gigaton Challenge – a pledge to reduce customer greenhouse gas emissions by 1 billion metric tons (or, one gigaton) – and its pledge to be net-zero by 2050.