The Gigaton Challenge is a bold effort to reduce our customer carbon footprint by a billion metric tons by 2030. Achieving this could reduce the world’s annual global emissions by 2% — the equivalent of the collective emissions of France, Italy and the U.K. — and we know that innovation will play a key role in helping us meet that challenge.
The United Nations Sustainable Development Goals (SDGs) seek to solve the biggest and most complex challenges of our time. In line with that ambition, we set our 2030 Sustainability Commitments to tackle important issues such as climate change and gender equality. We have deep expertise and the scale to implement industry-changing innovations. We want our commitments to inspire others and call on those within our industry to join us.
We are one of the first companies that worked with the Trucost SDG Evaluation Tool to better understand where Trane Technologies could make the most meaningful impact. The tool helped us see where we could contribute most significantly to the following SDGs:
Climate Action (SDG 13)
Take urgent action to combat climate change and its impact: The global demand for affordable, reliable energy and access to cooling and comfort is increasingly contributing to climate change. Trane Technologies can dramatically reduce two major sources of greenhouse gas emissions: first, we can reduce emissions related to heating and cooling of residential and commercial buildings; and second, we can continue to improve the global cold chain to safely deliver medicine and vaccines to save lives and to reduce emissions related to food that decomposes. We are uniquely positioned at the intersection of rapidly rising global emissions and the delivery of innovative solutions to dramatically reduce them.
We are also reducing greenhouse gas (GHG) emissions and increasing energy efficiency in our operations and through our products by accelerating the use of clean technologies, increasing the efficiency of our systems and transitioning out of high-global-warming potential refrigerants.
Affordable Clean Energy (SDG 7)
Ensure access to affordable, reliable, sustainable, and modern energy for all: We are implementing energy efficiency measures across our enterprise and meeting more of our energy needs through renewable energy. As part of our 2030 Commitments, we have a goal to increase access to heating, cooling, and fresh food, and to operate with 100% renewable energy. In response to COVID-19, in 2020, the company launched the Center for Healthy & Efficient Spaces to help ensure access to indoor environments that are both safe and efficient.
In addition, our energy efficient equipment and coordinated technology services can dramatically reduce the energy consumption and demand within buildings, homes and transport systems. Within this decade, it is crucial that we scale these infrastructure improvements globally as they will provide the necessary efficiencies that enable a faster transition to clean energy electric grids across the planet. Our Gigaton Challenge, part of our 2030 Commitments, is one of the key ways we are galvanizing our employees to focus on solutions that help buildings, homes and transport systems use less energy while still meeting the expectations our customers have.
Gender Equality (SDG 5)
Achieve gender equality and empower all women and girls: We were the first in our industry to enter the Paradigm for Parity Coalition when our CEO signed the pledge in 2017. 21.7% of our leadership positions are now held by women and there are five women serving on our Board of Directors. We are working relentlessly to fulfill the pledge and bring gender parity to our corporate leadership structure by 2030. To support these goals, we are working across the full value chain to improve where and how we recruit talent, how we develop and promote from within, and how we hold our leaders accountable in creating opportunity for all. Additionally, through our seven-step strategic sourcing process, we avoid using price as the primary driver for supplier selection. Instead, we consider a range of factors as agreed upon by a cross-functional team, including supplier diversity, quality and risk. We are also working toward our target to spend $15 billion with women-owned businesses through 2021. Read more about our commitments to diversity and inclusion in our business and supply chain.
To increase our impact, we have also aligned our citizenship targets with Quality Education (SDG 4) and Zero Hunger (SDG 2). Read more about our 2030 Sustainability Commitments and approach to corporate citizenship.