Trane Technologies Recognized as One of Europe’s Climate Leaders by Financial Times
SWORDS, Ireland, April 25, 2024 /3BL/ - Trane Technologies (NYSE:TT), a global climate innovator, has been named to the Financial Times Europe’s Climate Leaders list for the fourth consecutive year. This year’s list, compiled by the Financial Times and market research company Statista, recognizes European businesses whose Scope 1 and 2 GHG emissions intensity fell the most between 2017 and 2022.
“We’re extremely honored to be recognized by Financial Times as one of Europe’s climate leaders for the fourth year in a row,” said Jose La Loggia, Group President, Europe, Middle East and Africa (EMEA). “Leading change that drives impact is not new to Trane Technologies. We’re driving meaningful action toward achieving our ambitious sustainability commitments and science-based emission reduction goals. We are climate innovators focused on bringing solutions to customers that enable them to reduce their total carbon footprint and we are proud to lead our industry in making a significant impact on global greenhouse gas emissions, particularly in the areas of heating and cooling and food loss.”
Trane Technologies is uniquely positioned to lead the movement to tackle climate change and empower its customers to decarbonize. In 2014, Trane Technologies established its first set of climate commitments, and exceeded them two years early. Since then, the company’s ambitions and actions have grown, with significant progress toward its bold 2030 Sustainability Commitments and 2050 Net-Zero carbon target.
Through its Gigaton Challenge, announced in 2019, the company is working with customers to reduce greenhouse gas emissions by 1 billion metric tons by 2030. This reduction equates to 2% of the world’s annual emissions – or, the annual emissions of Italy, France and the U.K. combined. It has also pledged to be net-zero by 2050, is first in industry to have its near and long-term emissions reduction targets externally validated by the Science Based Targets Initiative (SBTi) and is one of four Irish-based companies to be recognized with an ‘A’ score for transparency on climate change by CDP in 2023.
Trane Technologies continues to relentlessly invest in sustainable innovation, accelerating decarbonization of buildings, industry and the cold chain. Last November, the company announced 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. The company also called for quick action and greater collaboration at the GCCA European Cold Chain Conference in Brussels to ensure widespread adoption of technologies that reduce carbon emissions and improve efficiency.
Earlier this year, Trane Technologies co-developed a roundtable at the European Parliament that addressed the global impact of food loss and the technologies and solutions required to reduce loss and waste across the food chain. This session was aligned to the EU’s commitment of meeting SDG 12.3 of halving per capita global food loss and waste by 2030. In addition to saving more food for human consumption, reducing food waste also lowers emissions. According to Eurostat, food waste is responsible for about 16% of greenhouse gas emissions from the EU food system.
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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 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.
