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Trane Technologies has reported in accordance with the Global Reporting Initiative (GRI) Standards for the period 1 January 2024 - 31 December 2024.
GRI 2: General Disclosures 2021
Disclosure # | GRI Disclosure Title | 2024 Direct Response or Location |
|---|---|---|
1. The organization and its reporting practices | ||
2-1 | Organizational details | Trane Technologies 170/175 Lakeview Drive Airside Business Park Swords, Co. Dublin, Ireland |
2-2 | Entities included in the organization’s sustainability reporting | |
2-3 | Reporting period, frequency and contact point | Reporting period: 1 January 2024 - 31 December 2024 Reporting frequency: Annual Date of report publication: 20 May 2025 Point of contact: Carrie Ruddy |
2-4 | Restatements of information | |
2-5 | External assurance | Select environmental, health and safety indicators receive limited assurance annually by an independent third party. The assurance process is led by the Vice President, Environmental, Health and Safety Operations who reports to Executive Vice President and Chief Integrated Supply Chain Officer. |
2. Activities and workers | ||
2-6 | Activities, value chain and other business relationships | During the reporting year, there were no major changes within our supply chain. |
2-7 | Employees | Our workforce breakdown includes the total number of full-time and hourly employees by region and gender. We employ contractors but do not currently track the region and gender breakdown of the contractor workforce. We did not experience significant fluctuations in our workforce during the reporting period. |
2-8 | Workers who are not employees | |
3. Governance | ||
2-9 | Governance structure and composition | |
2-10 | Nomination and selection of the highest governance body | |
2-11 | Chair of the highest governance body | |
2-12 | Role of the highest governance body in overseeing the management of impacts | |
2-13 | Delegation of responsibility for managing impacts | |
2-14 | Role of the highest governance body in sustainability reporting | |
2-15 | Conflicts of interest | 2024 Annual Report The company’s Conflicts of Interest Policy requires employees to disclose actual or potential conflicts of interest in a variety of categories, which generally capture the four categories of conflicts defined by GRI 2-16-b. Each disclosure is reviewed by the company’s Ethics and Compliance Group and disclosed to the employee’s manager. Conflict disclosures are escalated within the company, including to the Board of Directors, as necessary to effectively eliminate or mitigate the conflict. |
2-16 | Communication of critical concerns | Trane Technologies’ Vice President and Deputy General Counsel, Global Ethics and Compliance provides an overview of critical concerns to the company’s Global Business Integrity Council (GBIC) six times per year and the Audit Committee of the Board of Directors five times per year. The GBIC brings together executive focus and expertise to drive consistent implementation of risk-based compliance solutions to prevent, detect and remediate misconduct and promote an ethical culture. The GBIC is chaired by the CEO and co-owned by the Vice President and Deputy General Counsel, Global Ethics and Compliance, who acts as the company’s chief compliance officer. Other participants in the Council include the Executive Vice President and Chief Financial Officer; Senior Vice President, Human Resources; the Vice President, Assurance and Advisory Services; and the Director of Global Compliance Investigations. As defined in its charter, the Council executes the company’s global ethics and compliance program and supervises subordinate regional compliance committees. The Vice President and Deputy General Counsel, Global Ethics and Compliance has access to the members of the Board of Directors’ Audit Committee, including the Chair, to discuss and review matters. |
2-17 | Collective knowledge of the highest governance body | |
2-18 | Evaluation of the performance of the highest governance body | |
2-19 | Remuneration policies | |
2-20 | Process to determine remuneration | |
2-21 | Annual total compensation ratio | |
4. Strategy, policies, and practices | ||
2-22 | Statement on sustainable development strategy | |
2-23 | Policy commitments | Our environmental, health and safety, and ethical operations policies are described throughout our Sustainability Report. Links, applicable activities and communication processes are described in the relevant section. |
2-24 | Embedding policy commitments | |
2-25 | Processes to remediate negative impacts | |
2-26 | Mechanisms for seeking advice and raising concerns | |
2-27 | Compliance with laws and regulations | Trane Technologies operates with integrity and expects all employees and business partners to uphold the same ethical standards. The number of instances of non-compliance and the monetary value of fines for instances of non-compliance are considered confidential. |
2-28 | Membership associations | |
5. Stakeholder engagement | ||
2-29 | Approach to stakeholder engagement | |
2-30 | Collective bargaining agreements | 16% of our global workforce is covered by collective bargaining agreements. Trane Technologies determines working conditions and terms of employment on a regional, country and industry specific basis. |
GRI 3: Material Topics 2021
Disclosure # | GRI Disclosure Title | 2024 Direct Response or Location |
|---|---|---|
The organization and its reporting practices | ||
3-1 | Process to determine material topics | |
3-2 | List of material topics | |
Business Integrity | GRI 205: Anti-Corruption 2016 | ||
3-3 | Management of material topics | |
205-2 | Communication and training about anti-corruption policies and procedures | Our Anti-Bribery and Corruption Policy is communicated to 100% of employees, including our Board of Directors, through our Code of Conduct and to 100% of our business partners through the Business Partner Code of Conduct. All salaried employees and the Board of Directors must complete anti-corruption training upon hire and every two or three years based on a risk analysis of their function at the company. |
Climate Risk | GRI 201: Economic Performance 2016 | ||
3-3 | Management of material topics | |
201-2 | Financial implications and other risks and opportunities due to climate change | |
Company Culture | GRI 401: Employment 2016 | ||
3-3 | Evaluation of management approach | |
401-1 | New employee hires and employee turnover | |
401-2 | Benefits provided to full-time employees that are not provided to temporary or part-time employees | |
401-3 | Parental Leave | |
Diversity & Inclusion | GRI 405: Diversity & Equal Opportunity 2016 | ||
3-3 | Management of material topics | |
405-1 | Diversity of governance body and employees | |
GHG Emissions | GRI 305: Emissions 2016 | ||
3-3 | Management of material topics | |
305-1 | Energy direct (Scope 1) GHG emissions | Gases included in the calculation: CO2, CH4, N2O, HFCs Base year for the calculation: 2019 Source of emissions factors and the GWP rates used: IPCC AR5 – Climate Change 2013; EPA Climate Leaders, Emission Factors for Greenhouse Gas Inventories, April 2023; 2017 Climate Registry Default Emissions Factors Report, Table B.2, April, 2020. Consolidated approach for emissions: Financial control Standards, methodologies, assumptions and/or calculation tools used: World Resources Institute, GHG Protocol |
305-2 | Energy indirect (Scope 2) GHG emissions | Gases included in the calculation: CO2, CH4, N2O, HFCs and small quantities of HCFCs (e.g., R22) Base year for the calculation: 2019 Source of emissions factors and the GWP rates used: USA location factors: 2022 eGRID, eGRID2022-data.xlsx , January 30, 2024Other locations: International Energy Agency, IEA (2021) Emission Factors Consolidated approach for emissions: Financial control Standards, methodologies, assumptions and/or calculation tools used: World Resources Institute, GHG Protocol |
305-3 | Other indirect (Scope 3) GHG emissions | Gases included the calculation: All Scope 3 categories covered by the GHG Protocol Base year for the calculation: 2019 Standards, methodologies, assumptions and/or calculation tools used: Data sources and calculation methodologies vary based on the most relevant Scope 3 categories calculated |
305-4 | GHG emissions intensity | Gases included in the calculation: CO2, CH4, N2O Organization-specific metric (the denominator): Million USD Types of GHG emissions included in the intensity ratio: Scope 1 and market-based Scope 2 GHG emissions |
305-5 | Reduction of GHG Emissions | Gases included in the calculation: CO2, CH4, N2O Base year for the calculation: 2019 Scopes in which reductions took place: Scope 1 and 2Standards, methodologies, assumptions and/or calculation tools used: GRI 305: Emissions 2016, Disclosure 305-5 |
305-6 | Emissions of Ozone-Depleting Substances (ODS) | Trane Technologies is not a manufacturer of ODSs based on its interpretation of GRI 305-6. |
305-7 | Nitrogen Oxides (NOx), Sulfur Oxides (SOx), and other significant air emissions | Persistent organic pollutants, volatile organic compounds, hazardous air pollutants, particulate matter and other standard categories of air emissions identified in relevant regulations are not significant air emissions for Trane Technologies. Source of emissions factors and the GWP rates used: U.S. EPA, Compilation of Air Pollution Emission Factors (AP-42), U.S. EPA Updated Emission Factors of Air Pollutants from Vehicle Operations in GREET Using MOVES; and vendor technical data sheets Standards, methodologies, assumptions and/or calculation tools used: General calculation method is material usage multiplied by emissions facto |
Energy | GRI 302: Energy 2016 | ||
3-3 | Management of material topics | Energy |
302-1 | Energy consumption within the organization | Source of the conversion factors used to understand the energy consumption within the organization: EPA Climate Leaders, Emission Factors for Greenhouse Gas Inventories, 18 April 2023; Climate Change, 2013, The Physical Science Basis, Working Group I Contribution to the Fifth Assessment Report of the Intergovernmental Panel on Climate Change, Chapter 8, Appendix 8.A, Table 8.A.1; 2017 Climate Registry Default Emission Factors report, Table B.2, April, 2020Standards, methodologies, assumptions and/or calculation tools used: GRI 302: Energy 2016, Disclosure 302-2 |
302-2 | Energy consumption outside the organization | All energy was consumed within the organization. |
302-3 | Energy intensity | Organization-specific metric (the denominator): Revenue Types of energy included in the intensity ratio: Fuel, heating and electricity All energy was consumed within the organization |
302-4 | Reduction of energy consumption | Base year for the calculation: 2019 Types of energy included in the reductions: Fuel, heating and electricity Standards, methodologies, assumptions and/or calculation tools used: GRI 302: Energy 2016: 302-4 |
Energy Efficient and Low Emission Products | GRI: Custom Disclosure | ||
3-3 | Management of material topics | |
Sustainable Product Design & Life Cycle | GRI 301: Materials 2016 | ||
3-3 | Management of material topics | |
301-2 | Recycled input materials as a percentage of total input materials used to manufacture the organization’s primary products and services | |
Technology & Innovation | GRI: Custom Disclosure | ||
3-3 | Management of material topics | |
Custom | Innovation Revenue: Revenue from the current reporting year derived from new solutions or new markets launched within the prior 36 months | |