As an industry leader, we are uniquely positioned to address climate change by reducing emissions through innovative building automation services that improve energy efficiency and refrigerated transportation technologies that reduce food loss. Our solutions reflect our efforts to continually reduce emissions and transform tomorrow, today.
In 2019, Trane Technologies completed a GHG emissions inventory, aligned with the GHG Protocol, of our Scope 1, 2, and 3 emissions to serve as a baseline for the next 30 years. Using a baseline that represents a recent average production year, rather than a baseline from five or 10 years ago, pushes us to set more ambitious emissions reduction targets and strategies. It also helps us avoid overstating our contributions toward emissions reduction goals. Bold leadership and ambition combined with transparency is what’s essential to achieving a more sustainable world.
Though we are dedicated to reducing emissions across all three scopes, we focus our efforts on our largest area of impact within Scope 3, customer use of our products. These emissions, which alone make up approximately 90% of our carbon footprint, are addressed through our Gigaton Challenge. The emissions generated from our operations (Scopes 1 and 2) account for less than 1% of our total emissions and are addressed through multiple strategies. Find details of our full value chain drivers below in our Decarbonization Graphic.
We developed our climate change strategy based on the latest scientific research and a dedication to limiting global temperature rise to no more than 1.5°C. Our strategy includes near-term Scope 1, 2, and 3 emissions reduction targets, verified by the Science Based Targets Initiative, and a long-term 2050 net-zero target, which has been submitted for verification this year. We also commit to achieving carbon neutral operations in 2030.
Our climate change ambitions also led us to create the Gigaton Challenge, which represents the largest reduction commitment of any B2B enterprise due to our baseline of 2019. We are committed to reducing our customers’ carbon footprint by one billion metric tons of CO2e by 2030.
The Gigaton Challenge is one component of our 2030 Sustainability Commitments. These commitments reach every corner of our value chain, extending from supplier expectations to employee engagement and customer solutions. We strive to lead by example on climate action, and we will continue to challenge ourselves with decarbonization efforts.
Drawdown Labs Membership
In 2020, Trane Technologies became a founding member of Drawdown Labs. Participating companies devote resources to help the world reach a point when the level of GHGs in the atmosphere begins to steadily decline. Drawdown Labs serves as a testing ground where companies can cultivate equitable climate solutions. In 2021, we advanced climate leadership by collaborating with corporate leaders and employees on decarbonization topics. Our ongoing discussions with the consortium of private sector partners look beyond net-zero and help us stay at the forefront of climate solutions.
Trane Technologies maintains a strong commitment to transparency, governance, and reports in accordance with the Global Reporting Initiative (GRI): Core option. We also disclose performance against SASB metrics and the World Economic Forum (WEF) Stakeholder Capitalism Metrics. We support the Task Force on Climate-related Financial Disclosures (TCFD) and voluntarily disclose information based on the Final Recommendations Report, and respond to CDP’s Climate Change and Water questionnaires.
Our environmental, health, and safety (EHS) data and GHG emissions data are assured annually by a third party, including the product use emissions contributing to the Gigaton Challenge. View the results in our 2021 assurance statement.