Ingersoll Rand Releases Study Revealing How Corporations are Taking Action on Climate Change

DAVIDSON, N.C., April 18, 2016 /3BL Media/ – Ingersoll Rand, a world leader in creating comfortable, sustainable and efficient environments, today revealed findings from a new survey conducted in partnership with GreenBiz Group, an organization advancing the opportunities at the intersection of business, technology and sustainability. This research details the current landscape of corporate action on climate change. 

The results, detailed in a new paper, Accountability for Climate Action: How Corporations Are Tackling Climate Change, show that businesses are a powerful force in addressing climate change, with more than 90 percent making commitments to increase energy efficiency, reduce CO2 emissions or increase the use of renewables. Many companies are reducing the environmental impact of their products, with more than 50 percent of the large companies offering products differentiated by their low carbon footprint or impact on emissions reductions.

“It’s encouraging to see the range of activity underway in reducing organizational carbon footprints, as well as the efforts businesses are taking through their product portfolios and value chain,” said Owen Smith, director of energy policy and strategy for Ingersoll Rand’s Center for Energy Efficiency and Sustainability (CEES). “In order to address climate change, we need to continue this momentum. Ingersoll Rand continues to find innovative ways for our company and customers to reduce their carbon footprint while simultaneously increasing industrial productivity and efficiency.”

The research study targeted more than 5,300 companies globally and focuses on how businesses are addressing climate change and related issues such as energy efficiency, renewable energy and carbon emissions. The survey explores the types of commitments made, the strategies companies are following and how these vary by size and type of company.

“There is a growing urgency around climate change and this new research shows businesses recognize their role in tackling the issue,” said John Davies, vice president and senior analyst at GreenBiz Group. “Regardless of size, companies are making public commitments and following through, taking significant steps to reduce their carbon footprint. This is a positive trend in the fight against climate change.”

Key research findings include:

• 75 percent of respondents from the largest companies say they will either be better off with a mandatory price on carbon or that it would not have much of an effect on their business.
• 95 percent of organizations with emissions reductions goals have established a commitment to energy-efficiency initiatives.
• 45 percent of the largest companies have established a public commitment for the use of renewable energy.
• 58 percent of the largest companies have conducted a carbon footprint analysis across their extended value chain.

Ingersoll Rand Climate Commitment

Ingersoll Rand, a world leader in creating comfortable, sustainable and efficient environments, has made a Climate Commitment to reduce greenhouse gas (GHG) emissions from its products and operations by 2030. The Ingersoll Rand Climate Commitment pledged to:

• Cut the refrigerant GHG footprint of its products by 50 percent by 2020 and incorporate lower global warming potential (GWP) alternatives across its portfolio by 2030;
• Invest $500 million in product-related research and development over the next five years to fund the long-term reduction of GHG emissions; and
• Reduce company operations-related GHG emissions by 35 percent by 2020.

To date, the company’s Climate Commitment has supported the avoidance of approximately 2 million metric tons of CO2e globally, which is the equivalent of avoiding annual CO2 emissions from energy used in more than 270,000 homes or more than 2.1 billion pounds of coal burned. By 2030, the company expects to reduce its carbon footprint by 50 million metric tons.

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About Ingersoll Rand

Ingersoll Rand (NYSE:IR) advances the quality of life by creating comfortable, sustainable and efficient environments. Our people and our family of brands — including Club Car®, Ingersoll Rand®, Thermo King® and Trane® — work together to enhance the quality and comfort of air in homes and buildings; transport and protect food and perishables; and increase industrial productivity and efficiency. We are a $13 billion global business committed to a world of sustainable progress and enduring results. For more information, visit www.ingersollrand.com.

Link to study: http://bit.ly/263pLl6

Contact

Dan Berei, Ingersoll Rand
704-655-5018, dand.berei@irco.com