Trane Technologies Delivers Leading Business and Sustainability Performance by Reducing Customers' Energy Use and Carbon Emissions
Sustainability Report highlights reduction of 237 million metric tons of customers' carbon emissions and 44% reduction in operational emissions since 2019
Trane Technologies (NYSE:TT), a global climate innovator, is continuing to set the pace for decarbonizing buildings, industry and the cold chain by reducing energy use and carbon emissions for customers and in its own operations – while consistently delivering leading business and sustainability performance.
Trane Technologies' 2024 Sustainability Report highlights the company's consistent execution, focused sustainability strategy and continued investment in innovation.
"We continue to advance sustainability by reducing energy use and emissions through our innovative thermal management systems, electrification and digital enablement for our customers and in our own operations," said Dave Regnery, chair and CEO of Trane Technologies. "Our customer solutions are green for green – good for the planet, and good for our customers' bottom line."
Trane Technologies has reduced customer carbon emissions by 237 million metric tons since 2019, on track to meet its Gigaton Challenge goal to reduce one gigaton (or, one billion metric tons) of customer carbon emissions by 2030. In 2024, the company launched 190 new products including a significant portfolio refresh with lower global warming potential (GWP) refrigerants. With high customer demand for sustainable solutions, the company delivered a fourth consecutive year of more than 20% adjusted EPS growth.
"We're setting the standard for what's possible in sustainable innovation. While demand for our sustainable solutions and manufacturing needs have increased, we've simultaneously reduced carbon emissions and environmental impacts in our operations," said Mauro Atalla, Chief Technology & Sustainability Officer of Trane Technologies. "We are proving that by embedding sustainability into our purpose, strategy and culture, it is possible to be a growth company, meet ambitious sustainability commitments and add value to customers by helping them meet their goals."
Trane Technologies' 2024 Sustainability Report includes a comprehensive set of data, aligned with leading sustainability frameworks, that showcases how centering sustainability in business generates positive outcomes for customers, investors, employees and society.
Notable advancements made in 2024 toward Trane Technologies' 2030 Sustainability Commitments include (compared to 2019 baseline unless otherwise noted):
- Gigaton Challenge: Reduced 237 million metric tons of carbon – equivalent to the emissions generated from using nearly 27 billion gallons of gasoline – toward the Gigaton Challenge, a pledge to reduce one billion metric tons of carbon from product use emissions by 2030.
- Carbon Neutrality: Reduced operational emissions by 44%, on track toward reaching science-based target of 50% reduction by 2030.
- Absolute Energy: Reduced absolute energy use by 3.2% toward 10% goal, even as manufacturing and production demands increased in support of company growth.
- Renewable Energy*: Met global operational electricity demands with 68% renewable energy sources.
- Water and Waste: Reduced total water usage by 49% and by 27% at facilities in water-stressed regions and achieved zero waste to landfill at 80% of global manufacturing sites.
- Embodied Carbon: In 2024, announced an industry-first, precedent-setting commitment to reduce embodied carbon in our products by 40% by 2030.
- Culture and Workforce Development*: Achieved employee engagement score of 82 (out of 100), ranking in the top quartile among benchmarked companies. Increased participation in tuition advancement program by 28% compared to prior year with nearly 600 global employees receiving an aggregate value of $2.5 million dollars in tuition assistance.
- Volunteerism: Completed more than 92,000 employee volunteer hours*, totaling more than 329,000 total volunteer hours since 2019.
A series of prominent awards, ratings and listings also recognized Trane Technologies for its industry-leading sustainability performance and company culture:
- Dow Jones Sustainability Index (14th consecutive year listed on North America Index, 4th consecutive year on World Index)
- Just Capital's JUST 100 List (ranked 1st in Buildings Materials & Construction industry and 6th overall)
- CDP Climate Change ‘A' List (3rd consecutive year)
- Corporate Knights (ranked 26th on the 2025 Global 100)
- Ethisphere® Institute's World's Most Ethical Companies (2nd consecutive year)
- Fortune's World's Most Admired Companies (13th consecutive year)
Alongside its Sustainability Report, Trane Technologies published its Climate Transition Plan that outlines the company's forward-looking climate strategy, including its plans for managing physical and transition climate risks and opportunities, reducing carbon emissions in alignment with international climate agreements and preparing for future policy, market and technological changes.
To read Trane Technologies' full 2024 Sustainability Report, visit www.tranetechnologies.com/sustainability-reports.
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 2030 Sustainability Commitments; our pathway to net-zero by 2050; our sustainability targets, goals, commitments and programs and their anticipated impacts; our product and service innovations; and other business plans, initiatives and objectives. 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, 2024, 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.
* Calendar year 2024 metric
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