Trane Technologies to Debut and Feature Employee-Powered Social Innovation and Decarbonization Solutions at VERGE22

Rhea-AI Summary

Trane Technologies (NYSE: TT) showcased innovative sustainability solutions at VERGE22, including a net-zero cooling cart aimed at helping street vendors reduce food loss and greenhouse gas emissions. The cooling cart utilizes passive technology to extend food life and improve vendor livelihoods. Additionally, the company emphasized its Gigaton Playbook, a framework for reducing emissions, particularly in heating and cooling. Trane Technologies aims to cut one gigaton of GHG emissions by 2030 through sustainable practices.

Positive

• Launch of a net-zero cooling cart to aid street vendors, which can reduce food waste and greenhouse gas emissions.
• Introduction of the Gigaton Playbook, aimed at helping companies lower their carbon footprints and decarbonize.
• Commitment to reduce one gigaton of GHG emissions by 2030, showcasing a strong long-term sustainability strategy.

Negative

• None.

Company will highlight scalable sustainability solutions, including a net-zero street vendor cooling cart and science-based Gigaton Playbook, at Silicon Valley’s premier climate tech event

SWORDS, Ireland--(BUSINESS WIRE)-- Trane Technologies (NYSE: TT), a global climate innovator, will be at VERGE22 to debut a net-zero cooling cart designed to provide sustainable and affordable cooling for street vendors, while combating food loss, reducing emissions and improving their livelihoods.

On Wednesday, October 26 at 8 a.m. PT (11 a.m. ET), Trane Technologies’ innovation team will share live from VERGE22 how the company harnessed the collective talents and expertise of employees to design a prototype cart and will invite partners to help scale the solution in developing regions around the world.

“More than 25 million street vendors sell fruits and vegetables in developing economies, and they are often the most vulnerable part of informal food systems,” said Rasha Hasaneen, vice president of Innovation for Trane Technologies. “Nearly 10 percent of global greenhouse gas emissions come from food waste, and each year, over 30 percent of the food produced is lost or wasted. This employee-inspired solution uses passive cooling technology to extend the life of food at the point of distribution, which can help dramatically reduce emissions, improve quality of life and support resilient food systems around the world.”

In 2021, Trane Technologies and Hasaneen launched Operation Possible, an employee-powered social innovation program helping to solve for some of the world’s most daunting challenges – such as the coexistence of food loss and hunger in low-income communities. The cooling cart is one of the first social innovations to be released.

The Gigaton Playbook: a roadmap for reducing emissions

Another 15% of the world’s emissions come from heating, cooling and ventilating buildings. Trane Technologies has set bold 2030 Sustainability Commitments and is taking deliberate action to decarbonize homes, buildings and refrigerated transport with clean, energy-efficient solutions.

At VERGE22, Scott Tew, Trane Technologies’ vice president of Sustainability, will provide insight into pathways for decarbonizing buildings, including the methodology Trane Technologies is using to identify the strongest levers for decarbonization. Leveraging Trane Technologies’ science-based approach and Gigaton Playbook to calculate and measure absolute and avoided product-related emissions, companies at all stages of their sustainability journeys are encouraged to follow a similar model – creating an inclusive, all-hands-on deck movement towards addressing Scope 3 GHGs in the process.

“Creating pathways for calculating and setting ambitious, science-based carbon reduction goals, with clear governance, are critical components of an impactful sustainability strategy,” said Tew. “It’s important to have both near-term and long-term goals, and track action along the way. We’re proud to be at VERGE22 to share our learnings with other companies and organizations and accelerate climate change solutions.”

Trane Technologies’ Gigaton Challenge is the largest validated science-based climate commitment related to product use emissions, and pledges to reduce one billion metric tons (one gigaton) of greenhouse gas (GHG) emissions from customers’ carbon footprints by 2030.

Trane Technologies will participate in the following sessions at VERGE22.

Tuesday, October 25
9 a.m. PT
How to Calculate Your Scope 3 Emissions

Wednesday, October 26
7:50 a.m. PT
Purpose-Driven Innovation: Reducing Food Loss While Uplifting Low-Income Communities

9 a.m. PT
How the First Movers Coalition Raises the Bar for Corporate Action on Next-Gen Climate Tech

1:30 p.m. PT
Pathways to Net-Zero Carbon Commercial Buildings

The Cooling Cart will also be on display in the VERGE22 Microgrid.

This news release includes “forward-looking statements” which are statements that are not historical facts, including statements that relate to our environmental 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, changes in laws and regulation, global economic conditions, the outcome of any litigation, our ability to develop new products and services and the acceptance of these products in the markets that we serve. 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.

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. Learn more at tranetechologies.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221024005263/en/

Media:

Shelby Hansen

+1 704-990-3835

Shelby.Hansen@tranetechnologies.com

Investors:

Zachary Nagle

+1 704-990-3913

InvestorRelations@tranetechnologies.com

Source: Trane Technologies

FAQ

What is the purpose of the net-zero cooling cart introduced by Trane Technologies at VERGE22?

The net-zero cooling cart aims to provide sustainable cooling solutions for street vendors while combating food loss and reducing emissions.

How does the Gigaton Playbook contribute to corporate sustainability efforts?

The Gigaton Playbook serves as a roadmap for companies to reduce emissions, particularly related to heating and cooling, and encourages setting ambitious carbon reduction goals.

What are Trane Technologies' sustainability commitments by 2030?

Trane Technologies is committed to reducing one gigaton of greenhouse gas emissions from customers' carbon footprints by 2030.

When did Trane Technologies present its innovations at VERGE22?

Trane Technologies presented its innovations at VERGE22 on October 26, 2022.