Trane Technologies, EU Parliament and Commission Officials & Cold Chain Partners Call for Accelerated Food Loss Solutions

Rhea-AI Summary

Trane Technologies co-developed a round table event at the European Parliament focusing on Advancing Food Loss Technologies and Policies. The event highlighted the global impact of food loss and the importance of sustainable cold chains in reducing food waste. Trane Technologies emphasized its commitment to sustainability and reducing greenhouse gas emissions through various initiatives.

Positive

• Trane Technologies partnered on a round table event at the European Parliament to address food loss technologies and policies.
• The event discussed the global impact of food loss and the role of efficient cold chains in reducing waste.
• Trane Technologies is committed to sustainability, aiming to reduce customer greenhouse gas emissions by 1 billion metric tons by 2030.
• The company has set a goal to be net-zero by 2050 and has validated its emissions reduction targets with the Science Based Targets Initiative (SBTi).
• Trane Technologies is leading in electrification and decarbonization of the cold chain, providing sustainable fleet solutions to customers.
• In November 2023, the company achieved its commitment to deliver fully electric, zero direct emission refrigeration solutions in the EMEA region.

Negative

• None.

SWORDS, Ireland--(BUSINESS WIRE)-- Trane Technologies (NYSE:TT), a global climate innovator, co-developed a round table event at the European Parliament on Advancing Food Loss Technologies and Policies. The round table, hosted by Member of the European Parliament Ms. Rosa D’Amato MEP and promoted in partnership with Sustainable Development Policy Institute Competere, addressed the global impact of food loss and the technologies and solutions required to reduce loss and waste across the food chain.

Trane Technologies co-developed a round table event at the European Parliament on Advancing Food Loss Technologies and Policies. (Photo: Business Wire)

“We are very proud to have partnered on this event with Competere, as well as working with members of the European Commission, European Parliament and major cold chain partners,” said Claudio Zanframundo, president, Thermo King EMEA, Trane Technologies. “Globally, 30% of food is lost or wasted, while 1.3 billion people experience food insecurity. Having an efficient and sustainable cold chain makes a big difference in reducing food waste and putting food on tables across the world. That’s why it’s vital that policy makers and industry leaders connect regularly so we can move the needle on this important issue.”

The round table included discussions on European Union policies and strategies led by Alexandra Nikolakopoulou, Head of Unit DGSANTE of the European Commission and the causes of food loss and waste led by Associate Professor Kasza Gyula. Also taking part in the discussions were representatives from Copa Cogeca, the organization for farmers and agri-cooperatives in the EU, leading European food manufacturers association FoodDrinkEurope, major European retail organization Schwarz Group and surplus food management app-based company Too Good To Go, and Safe Food Advocacy Europe (SAFE), an NGO focused on protecting EU food consumers.

Through dedicated and committed 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). This reduction equates to 2% of the world’s annual emissions – or, the annual emissions of Italy, France and the U.K. combined. The company has also pledged to be net-zero by 2050 and is first in industry to have its near and long-term emissions reduction targets externally validated by the Science Based Targets Initiative (SBTi).

Trane Technologies is also leading by example in the electrification and decarbonization of the cold chain – helping customers transition to more sustainable fleet solutions while reducing their carbon footprints. In November 2023, it announced that it fulfilled its August 2021 commitment to deliver fully electric, zero direct emission Thermo King® refrigeration solutions for every segment of the cold chain in the Europe, Middle East and Africa (EMEA) region by 2023.

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 tranetechnologies.com.

Forward Looking Statements

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 and electrification initiatives, 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/20240214416167/en/

Media Contact:

Geraldine Velner

+32 493 282676

Geraldine.Velner@tranetechnologies.com

Investors Contact:

Zachary Nagle

+1-704-990-3913

InvestorRelations@tranetechnologies.com

Source: Trane Technologies

FAQ

What event did Trane Technologies co-develop at the European Parliament?

Trane Technologies co-developed a round table event at the European Parliament on Advancing Food Loss Technologies and Policies.

What is Trane Technologies' ticker symbol?

The ticker symbol for Trane Technologies is TT.

What is the global percentage of food lost or wasted?

Globally, 30% of food is lost or wasted.

What is Trane Technologies' 2030 Sustainability Commitment?

Trane Technologies aims to reduce customer greenhouse gas emissions by 1 billion metric tons by 2030.

What is Trane Technologies' goal for emissions reduction by 2050?

Trane Technologies aims to be net-zero by 2050.