At Trane Technologies, we hold ourselves to the highest standards of ethical conduct. Sustainability has been thoroughly integrated into our strategy, policies, practices and operations. Doing what is right for our business correlates with what is right for the environment and society. When conflicts do arise, we acknowledge the issue and seek an appropriate balance in moving forward.
Our comprehensive Code of Conduct demonstrates our commitment to ethical operations throughout our value chain. We recently updated our Global Human Rights Policy and our Environmental, Health & Safety Policy to reflect our dedication to protecting workers’ rights in our value chain. The values we outline in these policies serve as our global minimum business standards across our value chain. For more information about our ethics and risk management practices, read our 2021 Annual Report, and ESG Management.
Trane Technologies’ Code of Conduct embodies the standards we expect our employees to uphold. Our comprehensive Code covers labor relations, human rights, diversity, equal employment opportunities, affirmative action, and harassment. It defines our company values and determines how we engage with stakeholders across our value chain. The essence of our Code is simple:
Our Code applies to every employee, regardless of their role or location, and the Board of Directors (when acting in connection with their Trane Technologies-related duties). We also expect our business partners to operate with the highest legal, moral, and ethical standards, as outlined in our Business Partner Code of Conduct (BPCoC).
The Audit Committee of our Board of Directors reviews our compliance programs to assess how well the programs address all applicable anti-corruption laws. Trane Technologies’ Global Business Integrity Council works with regional-level councils to set, approve, and operationalize compliance practices.
Salaried employees at Trane Technologies complete Code of Conduct training annually. Once they complete the training, employees must attest that they will uphold our Code. Code of Conduct training complements our anti-corruption, conflicts of interest, fraud and financial crimes, IT security awareness, and sexual harassment prevention training.
Our employees can report ethical concerns and issues through several channels. They may contact the Ethics Helpline or raise an issue with their manager, Human Resources, the Legal Department, the Ethics and Compliance Group, or the Internal Audit and SOX Compliance Group. We take Code violations seriously by investigating reported violations and taking action to remediate, as appropriate, to ensure compliance.
Our Code of Conduct and Anti-Bribery and Corruption Policy hold our employees to ethical and legal compliance standards. The Policy prohibits employees from giving or offering anything of value in exchange for business advantage. This includes a complete ban on facilitation payments to secure routine government functions.
We conduct due diligence reviews for business partners and service providers based on risk ratings. Trane Technologies engages a third-party vendor to research issues by scanning thousands of public record databases. Trane Technologies can identify which potential business partners meet our high ethical standards by using this compliance process.