Materiality Assessment

Materiality Process

We proactively engaged with key external and internal stakeholders to identify the most material sustainability-related topics and metrics for operations strategy as well as public disclosure. Consistent with Global Reporting Initiative (GRI) guidelines, our selection of stakeholders to engage was based on five criteria pertaining to their relationship with Trane Technologies:

  1. Responsibility
  2. Influence
  3. Proximity
  4. Dependency
  5. Representation

The external stakeholders who provided direct feedback included customers, supply chain partners, industry groups, non-governmental organizations (NGOs), local community organizations, investors, rating agencies and regulators. With support from an independent consulting firm, we engaged with these stakeholders through interviews and surveys, augmented by secondary research on our suppliers and distributors as well as our peer companies and competitors. Internally, we received feedback at various levels, including from leaders of strategic business units. In addition, interviews were conducted with four members of our External Sustainability Advisory Council.

Overview of Methodology

Our Approach to Materiality Assessment

We believe the sustainability-related issues of greatest importance to Trane Technologies and our stakeholders are:

  1. Energy Efficient and Low-Emission Products
  2. Technology and Innovation
  3. Diversity and Inclusion

We consistently work to synthesize GRI sustainability indicators and materiality criteria with metrics we believe are relevant and material to Trane Technologies and its stakeholders, based on our 2018 materiality assessment. In addition, these materiality indicators mirror the feedback and insights we gather through ongoing external and internal stakeholder interactions at every level and at all of our locations around the world.

In the matrix below, material aspects are defined as those that are in the upper right-hand quadrant when mapped against increasing importance to the business and increasing importance to stakeholders, as follows:

  • Energy Efficient and Low-Emission Products
  • Technology and Innovation
  • Diversity and Inclusion
  • Energy
  • Emissions
  • Product Life Cycle
  • Board Oversight
  • Innovation for Emerging Markets
  • Training and Development
  • Financial Performance
  • Equal Remuneration
  • Supplier Environmental Conditions
  • Company Culture
  • Public Policy
  • Access to Cooling and Comfort

Our materiality matrix depicts the issues that were identified as material during our 2018 materiality assessment and their importance to our business and to stakeholders. The issues indicated in white are being used to guide our reporting.

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Materiality Matrix