4.25/5
supplier diversity score
$435M
spent with diverse-owned suppliers in 2021
71
new diverse suppliers added in 2021
At Trane Technologies, we recognize the value of diversity in our supply chain and actively work to grow our business in partnership with diverse suppliers. We are committed to working with minority-owned, women-owned, veteran-owned, and LGBTQ-owned businesses, and businesses owned by people with disabilities. Our innovative procurement process identifies and pre-qualifies diverse-owned businesses to ensure a robust pipeline of suppliers. Through this process, we added 71 new diverse-owned suppliers, representing $5.9M in spending, in 2021.
We are also dedicated to developing and mentoring our suppliers to help them build stronger partnerships and enhance their capabilities. Individuals from our procurement function sit on the Board of Directors of approximately 15 different organizations that provide scholarships and programming for diverse-owned businesses. In 2021, Trane Technologies was an integral partner in the What's Your Pitch? Innovations Competition hosted by the U.S. Pan Asian American Chamber of Commerce (USPAACC), Southeast Chapter, during which diverse entrepreneurs pitched their business ideas to a panel of investors, gaining visibility and funds to help them grow. For leadership and ongoing support, Trane Technologies was named the USPAACC Southeast Chapter Corporate Advocate of the Year. Read more about our dedication to diversity and inclusion across our business.
Supplier Diversity Data
|
|
2019
|
2020
|
2021
|
|---|---|---|---|
|
Supplier diversity score1
|
-
|
4.25
|
4.25
|
|
Number of diverse suppliers added
|
-
|
103
|
71
|
|
Diverse-owned business spend
|
$532 million
|
$380.4 million
|
$435.1 million
|
|
Percent of spend with diverse-owned businesses
|
-
|
6%
|
6.8%
|
|
Percent increase in diverse-owned business spend
|
-
|
11.1%
|
14.3%
|
|
Diverse-owned business spend since inception of program in 2013
|
>$2.6 billion
|
>$3 billion
|
>$3.4 billion
|
|
Percent of spend with women-owned businesses
|
-
|
3.8%
|
4.1%
|
|
Percent increase in women-owned business spend
|
-
|
18.8%
|
15.4%
|
1 We measure our program against the National Minority Supplier Development Council’s eight best practices. Scores are 0 to 5.
English