Trane Technologies Accelerates Sustainable Innovation with Breakthrough Climate and Business Performance in 2024
Trane Technologies (NYSE: TT), a global leader in climate innovation, continues to push the boundaries of sustainability and operational excellence, reinforcing its leadership in the decarbonization of buildings, industrial processes, and the global cold chain. Through its ongoing commitment to cutting customer energy use and emissions, the company is setting new industry standards while delivering robust financial performance.
The recently published 2024 Sustainability Report paints a comprehensive picture of how Trane Technologies has embedded sustainability at the core of its business strategy, driving measurable progress toward its ambitious 2030 commitments. By prioritizing innovation, efficiency, and corporate responsibility, Trane is not only helping customers shrink their environmental footprint but also achieving standout results across earnings, employee engagement, and industry recognition.
We continue to advance sustainability by reducing energy use and emissions through our innovative thermal management systems, electrification and digital enablement for our customers and in our own operations,” said Dave Regnery, Chair and CEO of Trane Technologies. “Our customer solutions are green for green – good for the planet, and good for our customers’ bottom line.”
Customer-Focused Innovation: A Win for the Environment and the Economy
Since launching its Gigaton Challenge in 2019, Trane Technologies has helped its customers avoid 237 million metric tons of carbon emissions – an amount equivalent to the emissions produced by burning nearly 27 billion gallons of gasoline. The company is well on its way to meeting its goal of cutting one gigaton (one billion metric tons) of carbon emissions from customer product use by 2030.
This momentum is fueled by a consistent investment in research, development, and product innovation. In 2024 alone, Trane introduced 190 new products, many of which featured advanced, low global warming potential (GWP) refrigerants. These new systems reflect customer demand for environmentally responsible solutions and demonstrate Trane’s ability to align its product roadmap with global climate imperatives.
As a result of this sustained innovation and customer alignment, Trane Technologies reported more than 20% adjusted earnings per share (EPS) growth for the fourth consecutive year — a strong signal that sustainable business practices and financial success are not mutually exclusive.
We’re setting the standard for what’s possible in sustainable innovation,” said Mauro Atalla, Chief Technology & Sustainability Officer. “While demand for our sustainable solutions and manufacturing needs have increased, we’ve simultaneously reduced carbon emissions and environmental impacts in our operations. By embedding sustainability into our purpose, strategy and culture, we’re proving that it’s possible to grow a company while meeting climate commitments and helping customers succeed.”
Decarbonizing Operations and Leading by Example
In parallel with customer impact, Trane Technologies has made major strides in reducing its own environmental footprint. The company’s operational emissions have declined by 44% since 2019, placing it firmly on track to meet its science-based target of a 50% reduction by 2030.
Trane also improved its absolute energy use efficiency, cutting overall consumption by 3.2% despite growing manufacturing demands. This means that even as Trane scales to meet market needs, it is using less energy per unit of output — a critical efficiency metric in climate performance.
In addition, the company powered 68% of its global operational electricity needs with renewable energy sources, further advancing toward a cleaner, more resilient energy profile.
Other notable environmental milestones from 2024 include:
- Water Conservation: A 49% reduction in total water usage and a 27% reduction at facilities located in water-stressed regions.
- Waste Management: Achieved zero waste to landfill at 80% of global manufacturing sites.
- Embodied Carbon: Announced an industry-first commitment to cut embodied carbon in products by 40% by 2030. Embodied carbon refers to the total emissions associated with the materials and manufacturing processes used in a product’s lifecycle — a critical but often overlooked contributor to climate impact.
Investing in People and Culture
Trane Technologies recognizes that sustainability is as much about people as it is about products. In 2024, the company reported an employee engagement score of 82 out of 100, placing it in the top quartile of benchmarked companies. This high engagement is a reflection of the company’s inclusive culture, purpose-driven mission, and investment in employee growth.
Participation in Trane’s tuition advancement program increased by 28% compared to the previous year, with nearly 600 employees globally receiving a combined $2.5 million in educational assistance. These efforts underscore the company’s focus on workforce development and its belief in fostering talent from within.
Moreover, Trane’s employees donated over 92,000 volunteer hours in 2024 alone, bringing the total since 2019 to over 329,000 hours. This spirit of service is deeply integrated into the company’s values and extends its impact beyond the workplace to communities around the world.
Recognition and Industry Accolades
Trane Technologies’ accomplishments have not gone unnoticed. In 2024, the company continued to earn accolades across multiple benchmarks of sustainability, ethics, and corporate performance:
- Dow Jones Sustainability Index: Listed for the 14th consecutive year on the North America Index and the 4th consecutive year on the World Index.
- JUST Capital’s JUST 100: Ranked 1st in the Building Materials & Construction industry and 6th overall.
- CDP Climate Change ‘A’ List: Earned top marks for the third consecutive year.
- Corporate Knights Global 100: Ranked 26th on the list of the world’s most sustainable corporations.
- Ethisphere Institute: Named one of the World’s Most Ethical Companies for the second consecutive year.
- Fortune’s World’s Most Admired Companies: Included for the 13th consecutive year, reinforcing its reputation among peers and industry stakeholders.
A Climate Transition Roadmap for the Future
Complementing its 2024 Sustainability Report, Trane Technologies also released its Climate Transition Plan, a detailed blueprint outlining how the company will navigate climate-related risks and opportunities in the coming decades. The plan describes strategies for decarbonization in alignment with international climate agreements, such as the Paris Agreement, and details how Trane is preparing for shifts in policy, markets, and technology.
This roadmap also demonstrates the company’s foresight in managing physical climate risks, such as extreme weather and resource scarcity, as well as transition risks tied to regulation and customer expectations.
As global demand intensifies for energy-efficient, low-emissions heating and cooling technologies, Trane Technologies is poised to scale its impact even further. The company’s continued investment in sustainable product development, digital transformation, and operational excellence sets the stage for long-term climate and business leadership.
With the support of a purpose-driven workforce and a clear roadmap for future action, Trane Technologies remains a model for how companies can lead in climate action while creating economic value.
To explore the full details of Trane Technologies’ progress and strategy, the 2024 Sustainability Report and Climate Transition Plan are available at: www.tranetechnologies.com/sustainability-reports.
