Trane Technologies Named to Climate Disclosure Project (CDP) Annual ‘A List’

Rhea-AI Summary

Trane Technologies (NYSE:TT) has been recognized by the Climate Disclosure Project (CDP) for its corporate environmental transparency, making the prestigious ‘A List’ alongside 283 other companies. This recognition comes after over 15,000 companies were evaluated on their environmental practices. Trane's achievements include exceeding its initial climate commitments set in 2014, and its ongoing initiatives like the 2030 Sustainability Commitments and the 2050 Net-Zero carbon target. The company demonstrates significant leadership in decarbonization across various sectors.

Positive

• Recognized on the CDP’s ‘A List’ for environmental transparency.
• Exceeded initial climate commitments set in 2014 by two years.
• Established ambitious 2030 Sustainability Commitments.
• Aligning emission reduction targets with rigorous climate science through SBTi.

Negative

• None.

SWORDS, Ireland--(BUSINESS WIRE)-- Trane Technologies (NYSE:TT), a global climate innovator, has been recognized for corporate environmental transparency by the Climate Disclosure Project (CDP), securing a place on its annual ‘A List.’

Trane Technologies is one of 283 companies that achieved an ‘A’ – out of the more than 15,000 companies scored. CDP’s scoring process is based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.

“Global challenges inspire bold thinking, and our near and long-term commitments and impact reflect the changes needed to transform our industry,” said Paul Camuti, chief technology and sustainability officer for Trane Technologies. “This recognition is another validation of Trane Technologies delivering real action on climate change and corporate transparency.”

Trane Technologies is driving decarbonization of buildings, industry and the cold chain through high-efficiency, electric heat pumps, air conditioners, thermal management systems and other innovations. The company established its first set of climate commitments in 2014 and exceeded them two years early. Since then, the company’s ambitions and actions have grown, with its bold 2030 Sustainability Commitments, including the Gigaton Challenge, and its 2050 Net-Zero carbon target. The company’s emission reduction targets are aligned with rigorous climate science, with three sets of its goals 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” 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. Such factors include, but are not limited to, our future financial performance and targets, including revenue, EPS and operating income; our business operations; demand for our products and services, including bookings and backlog; capital deployment, including the amount and timing of our dividends, our share repurchase program, including the amount of shares to be repurchased and the timing of such repurchases and our capital allocation strategy, including acquisitions, if any; our projected free cash flow and usage of such cash; our available liquidity; performance of the markets in which we operate; restructuring activity and cost savings associated with such activity; and our effective tax rate. Additional factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2021, as well as our subsequent reports on Form 10-Q and other SEC filings. We assume no obligation to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221213005702/en/

Media Contact:

Shelby Hansen

+1-704-990-3835

Shelby.Hansen@tranetechnologies.com



Investors Contact:

Zachary Nagle

+1-704-990-3913

InvestorRelations@tranetechnologies.com

Source: Trane Technologies

FAQ

What recognition did Trane Technologies (TT) receive in 2023?

Trane Technologies was recognized by the Climate Disclosure Project (CDP) and made its annual ‘A List’ for corporate environmental transparency.

How many companies were on the CDP’s ‘A List’ with Trane Technologies (TT)?

A total of 283 companies achieved an 'A' rating on the CDP’s ‘A List’.

What sustainability commitments does Trane Technologies (TT) have?

Trane Technologies has established 2030 Sustainability Commitments and a 2050 Net-Zero carbon target.

How has Trane Technologies (TT) performed on its climate commitments?

Trane exceeded its initial climate commitments set in 2014 by two years.

What is the significance of the CDP recognition for Trane Technologies (TT)?

The CDP recognition validates Trane's leadership in environmental practices and commitment to corporate transparency.