Ambition. Action.
Impact.
2022 ESG Report

Trane Technologies / 2022 ESG Report1Contents
Introduction3

Social56

Products & Innovation

Ambition. Action. Impact.������������������������������������������������������������������3

Global Workforce����������������������������������������������������������������������������������� 57

Circularity: Product Life Cycle & Materials��������������103

CEO Letter to Stakeholders��������������������������������������������������������� 5

Company Culture���������������������������������������������������������������������������������58

Energy Efficient & Low Emissions Products�������� 107

Non-Financial Statements
European Union Directive���������������������������������������������������������������8

Diversity & Inclusion���������������������������������������������������������������������������62

Technology & Innovation��������������������������������������������������������������110

Corporate Citizenship����������������������������������������������������������������������70

Supply Chain Transparency & Performance��������115

Awards & Rankings������������������������������������������������������������������������������12
Data & Frameworks�����������������������������������������������������������������������������14

Ambitions20
Sustainability Commitments����������������������������������������������������� 21
Decarbonization: Gigaton Challenge�����������������������������30
Customer Focused Solutions������������������������������������������������33

Environment36
Climate Change������������������������������������������������������������������������������������� 37
Greenhouse Gas Emissions����������������������������������������������������42
Energy���������������������������������������������������������������������������������������������������������������� 47
Waste������������������������������������������������������������������������������������������������������������������� 51
Water�������������������������������������������������������������������������������������������������������������������54

Trane Technologies / 2022 ESG Report

Learning & Development��������������������������������������������������������������74

102

Appendices118

Occupational Health & Safety������������������������������������������������79
Human Rights�������������������������������������������������������������������������������������������� 81

GRI Content Index�������������������������������������������������������������������������������119

Supplier Diversity�����������������������������������������������������������������������������������83

SASB Content Index�������������������������������������������������������������������������126

Governance85
ESG Management�������������������������������������������������������������������������������86

TCFD Content Index�������������������������������������������������������������������������129
WEF Content Index���������������������������������������������������������������������������� 131
ESG Data Center���������������������������������������������������������������������������������134

Business Integrity���������������������������������������������������������������������������������89
Environmental, Health & Safety Management�����92
Embedding Sustainability: Finance����������������������������������94
Public Policy������������������������������������������������������������������������������������������������96
Memberships & Partnerships�������������������������������������������������99
Charters�������������������������������������������������������������������������������������������������������� 100

2

Introduction
Ambition. Action. Impact.

THE GIGATON CHALLENGE
We are reducing 1 gigaton (1 billion metric tons)of carbon emissions (CO2e) from our customers’
footprint by 2030.

As a global climate innovator, we’re turning bold ambition into action and action into
impact. We push the boundaries of what’s possible through continuous innovation
on environmental, social, and governance (ESG) topics. Our ambition is fueled by our
purpose — we recognize the interconnection between ESG matters and take action tocomprehensively address them through our strategies, commitments, and initiatives.

OPERATION POSSIBLE

Throughout the year, with the support of our team members, we made significant
progress on our 2030 Sustainability Commitments. We are proud to share our 2022
ESG Report and the substantial steps we have taken to build long-term value.

Innovation involves everyone. In 2022, we put
our ideas into practice to fight food loss bydeveloping a cooling cart for street vendors.

CEO Letter to Stakeholders
Non-Financial Statements European Union Directive
Awards & Rankings

OPERATIONAL EXCELLENCE

Data & Frameworks

Our facility located in Charmes, France,
switched to electric heat pumps, reducing
emissions from natural gas and saving over
800,000 kilowatt-hours per year.

United Nations Sustainable Development Goals

EMBEDDING SUSTAINABILITY:FINANCE
Sustainability lies at the core of our business.
Each year, we highlight the way different functions
approach our goals.

Trane Technologies / 2022 ESG Report32022 Environmental, Social & Governance Highlights
The Gigaton Challenge
We’re reducing 1 gigaton of carbon emissions (carbon dioxide
equivalent [CO2e]) from our customers’ footprint by 2030

93M

metric tons of CO2e reduced from our customer carbon footprint since 2019
(product use + systems efficiency), in contribution to our Gigaton Challenge

Key Awards

A

CDP Climate Change 2022
questionnaire score

Learning & Development

Supplier Diversity

We invest in our workforce and help them advance theircareers with our innovative learning programs as part ofour commitment to create Opportunity for All

We’re committed to supporting
diverse-owned businesses when
we source products and services

10 hours
12th consecutive year on North
America Index, second on
World index

Ranked 18th on the JUST 100 List
Industry Rank: 1st in the Building
Materials & Construction industry

Trane Technologies / 2022 ESG Reporton average spent on formal training
by each team member in 2022; a 25%
increase from our 2019 baseline year

$607M+

spent with diverse-owned
suppliers in 2022; a 7.4% increase
from our 2019 baseline year

Investing in a Sustainable Future

Gender Parity

We’re investing in communities by increasing volunteerism
throughout our organization with a year-over-year increaseof more than 100% in 2022

We aim to achieve gender parity insenior leadership positions by 2030

62,274 hours
volunteered by our team members in 2022;
a 96% increase from our 2019 baseline year

26.2%

women in leadership positions,an increase of 3.1 percentage
points from our 2019 baseline

4

INTRODUCTION

CEO Letter to Stakeholders
As a global climate innovator, Trane Technologies has clear ambitions. But ambition alone is not enough — wetake action every day to enhance our positive impact. In 2022, we achieved another year of top-quartile financial
performance, while advancing our bold sustainability commitments.

GRI 2-22

Propelled by Our Purpose
From our Board of Directors to each member of our global team, we are propelled
by our purpose to boldly challenge what’s possible for a sustainable world. That
purpose is at the core of our strategy and drives our competitive advantage. In
2022 we became one of the first companies in the world to have our 2050 net-zerocarbon emissions targets approved by the Science-Based Targets initiative, following
previous approval of our near-term 2030 targets. We continue to relentlessly invest in
sustainable innovation, accelerating decarbonization of buildings, industry and thecold chain.

Trane Technologies / 2022 ESG ReportInnovating for Customers
Customer demand for our sustainable climate solutions is strong and growing, as
reflected in record bookings of $17.5 billion, organic revenue growth* of 15 percent,and unprecedented backlog in 2022. Against a backdrop of dynamic macro
challenges, our team continues to deliver leading innovation, diversified products
and robust services, enabling resilience and growth.
Our partnership with Neiman Marcus Group is an example. We reviewed their
entire real estate portfolio to develop a decarbonization roadmap, beginning with
the installation of high-efficiency electric chillers and sophisticated controls at theirflagship New York City Bergdof Goodman store. The project eliminates all direct
natural gas use at the landmark building, setting an example on the path to a netzero future.

5

Sustainability Strategy Drives
Financial Performance
The success of our sustainability strategy shows in our continued top-quartile
financial performance (among peers and the broader industrials) for 2022. During
the year, we had record bookings, revenue and operating margins, as well as
adjusted continuing earnings per share*, which grew 21 percent year-over-year.
Since 2018, we have delivered compound annual revenue growth of 7 percent,adjusted EBITDA margin expansion* of 220 basis points and powerful free cash flow.
We’ve continued our principled and balanced capital deployment, maintaining ourhigh level of business reinvestment and returning $1.8 billion to our shareholders in
2022 through dividends and share repurchases. Since 2017, we have delivered a total
shareholder return of 165%.

Creating Opportunity for All
Our uplifting culture is the driving force behind our performance. We continue to invest
in ways to create opportunity for all. For example, we changed our tuition reimbursement
to tuition advancement, removing barriers for those pursuing additional technicalcertifications or college degrees. Our commitment extends into our communities,
where we are investing in the next generation through our Sustainable Futures program,including a new initiative to bring STEM resources and Trane Technologies volunteers
into classrooms to inspire future sustainability champions and innovators.

Positioned for a Sustainable Future
Our purpose-driven strategy, strong customer demand, and talented
global team give me confidence in our ability to continue to leadin sustainability and deliver differentiated financial performanceand shareholder returns over the long-term. Our bold ambition
drives action and positive, lasting impact for our team, customers,
shareholders, communities and the planet.

Dave S. Regnery
Chair and CEO*These are non-GAAP financial measures. Reconciliation of non-GAAP financial measures
can be found preceding the 2023 Notice and Proxy Statement in our 2022 Annual Report.

Trane Technologies / 2022 ESG Report6Driving Performance Through Sustainability[1]Before 2010

2010

Focus on environmental andsafety complianceCenter for Energy Efficiency & Sustainability(CEES) is founded2011

Launched internal Diversity &Inclusion Council

Launched the first Sustainability Addendum
to our annual report
First annual submission to DJSI2015
We Mean Business partner (Paris Accord)

2014

2012–2013

First set of major goals announced:
2020 Climate Commitments

Internal and external Sustainability
Advisory Councils formed
Conducted first Futures Exercises, Climate
Scenario, and Materiality Assessment

Launched EcoWise product portfolio
First in our industry to have climate
commitments validated by the Science
Based Targets Initiative (SBTi)

2016

2017

Science-based targets accepted andvalidated by SBTi for 50% reduction in
refrigerant global warming potential and 35%
reduction in operational emissions by 2020

First in industry to join Paradigm for Parity
and CEO Action for Diversity and Inclusion

2018
Achieved 2020 Climate Commitments
2 years ahead of schedule
Launched first formal ESG report
Installed first on-site solar

2021
Data submitted to SBTi for 2050
Net-Zero target

2020

2019

SBTi validates achievement of first
generation 2020 Climate Commitments

Announced 2030 Sustainability Commitments
Invested in first wind power agreement

SBTi validates second generation 2030
Sustainability Commitments, covering
product-use and operational emissions

Received inaugural Terra Carta Sealfor sustainability leadership by His
Majesty King Charles III, in his former
role as HRH the Prince of Wales

Received World Environment Center
Gold Medal
Joined RE100, EP100, and 3% Club

2022
Approved for Net-Zero target, our third round of science-based targets with SBTi
Launched 25x25 initiative to accelerate reduction of Scope 1 and 2 carbon
emissions by an additional 25% from 2021 by the end of 2025
First in industry to join Steel Zero; low carbon steel purchase representing 20% of annual steel
1.

Years in purple designate years since launch of Trane Technologies

Trane Technologies / 2022 ESG Report7

INTRODUCTION

Non-Financial Statements
European Union Directive
Introduction

Description of Business Model

The information below, and the policies and related content elsewhere in this report,
describes the performance and impact of Trane Technologies plc, a public limited
company incorporated in Ireland in 2009, through the environmental, social, humanrights and business practices we work to uphold.

Trane Technologies is a global climate innovator that brings efficient and sustainableclimate solutions to buildings, homes and transportation through our strategic brands
Trane® and Thermo King® and an innovative, environmentally responsible portfolio of
products and services, and connected intelligent controls.

The European Union (Disclosure of Non-Financial and Diversity Information by certain
large undertakings and groups) Regulations 2017 (S.I. 360/2017) (as amended) (the“2017 Regulations”) require us to disclose certain non-financial information in the
Directors’ Report (the “Irish Directors’ Report”) accompanying our Irish statutoryfinancial statements. For the purposes of the 2017 Regulations, the sections entitled
Description of Business Model, Environmental Matters, Employee Matters, Social
Matters, Human Rights, and Anti-Corruption and AntiBribery set out below areincorporated by reference into the Irish Directors’ Report.

In 2022, we generated revenue and free cash flow primarily through the design,
manufacture, sale and service of a diverse portfolio of innovative climate control
products and services for Heating, Ventilation and Air Conditioning (HVAC), transport
refrigeration and custom refrigeration solutions. We accomplish this through relentless
investment in customer- driven product and service innovation to drive market
outgrowth and generate powerful free cash flow. Growth is also a result of increasing
revenues from services, parts, controls, and rentals and we continue to focus on
margin expansion through pricing and improved productivity. Successful execution ofthese focus areas will allow us to maintain and grow our position as a global climate
innovator creating comfortable, sustainable, and efficient environments.

Our 2022 Annual and ESG Reports also provide information that may be relevant toinvestors in assessing sustainability commitments and achievements but, except as
expressly provided above, the 2022 Annual and ESG Reports are not incorporated byreference into the Irish Directors’ Report. Copies of the 2022 Annual Report and ESG
Report can be accessed at www.TraneTechnologies.com.

Trane Technologies / 2022 ESG Report8

Environmental Matters
Approach Our commitment to sustainability extends to the environmental impactsof our people, operations, and products and services. From the efficiency of ourbuildings to our progress in managing energy, water, and waste, we are focused on
reducing our impact on the environment and embedding sustainability throughout
our businesses. We engage with key stakeholders to identify the most material
sustainability-related matters and metrics for operations strategy as well as public
disclosure. We also look at these material topics through the lens of a value
chain assessment that we perform. These commitments are embedded in an
Environment, Health and Safety (EHS) Policy that defines our stakeholders, our roles
and responsibilities, and our goals and targets with respect to EHS matters and ourBusiness Partner Code of Conduct (BPCoC).
Due diligence processes We have a vital role to play in mitigating global climatechange by reducing our environmental impact. This responsibility begins bysetting specific and measurable climate commitments and working to achievethese goals. We engage in risk-based due diligence of our business partners
and suppliers to ensure compliance with international trade laws and regulations.
Gathering adherence information also helps us continuously assess and improve
our human rights policies. Suppliers must have an effective environmental policy
and conduct their operations in a way that protects the environment. They must also
obtain and keep current all required environmental permits and meet all applicable
environmental rules, regulations, and laws in the countries where they operate.
Policy outcomes / Key Performance Indicators Our global Sustainability
Commitments are the foundation of our efforts to increase energy efficiency
and reduce the greenhouse gas emissions (GHG) related to our operations andproducts. Our Center for Energy Efficiency and Sustainability (CEES) helps ourcustomers and our company leverage best practices in sustainability. It is a strategic
business catalyst that helps us understand the benefits that sustainability canhave in growing our company and reducing our operational footprint, while helping
increase the pace of sustainable innovation. Our energy consumption from fuels andelectricity totaled 3 billion kilojoules in 2022. Greenhouse gases emitted indirectly
through the use of electricity, and directly through the burning of fuels or emissionsof refrigerants, totaled 355,289 metric tons of CO2e.
 Absolute energy consumption in 2022 — 3 billion kilojoules
 Absolute Scope 1 and 2 emissions in 2022 — 293,346 metric tons CO2e in 2022

Trane Technologies / 2022 ESG Report9Employee Matters
Approach As a global company that employs more than 37,000 people, we arecommitted to building a diverse, inclusive, and uplifting workplace where everyone
can bring their full, best self to work. We are committed to providing a safe, secureenvironment that supports the health, well-being, safety, and productivity of ourpeople. Investing in our team members and creating a culture where they feelengaged and included is key to unleashing the power of their innovation andcreativity. This commitment to our employees is formalized through several policies
designed to protect the fundamental rights of people associated with our businessand maintain overall integrity. These policies include: our EHS Policy that addresses
employee health and safety among other matters, a Global Human Rights Policy, U.S.
Equal Employment Opportunity Policy, and our Policy Prohibiting Harassment and/or
Discrimination. All policies are made available to our employees worldwide and affirm
these commitments.
Due diligence processes We provide anti-harassment training to all salaried
employees and ensure all policies are clear and available to employees globally.
Creating and sustaining a safety-focused, zero-incident culture is a priority. We
communicate our safety expectations through quarterly CEO town hall meetingsand monthly EHS meetings at the facility and service-organization levels. In addition,
to support our commitments to advance diversity and inclusion, we were the first in
our industry to sign up for important business coalitions such as Paradigm for Parity(dedicated to achieving gender parity in corporate leadership) and CEO Action for
Diversity and inclusion (committed to advancing diversity and inclusion at work). We
are also a founding member of the OneTen Coalition, which is committed to training,
hiring, and advancing one million Black Americans over the next ten years.
Policy outcomes / Key Performance Indicators Consistently high annual employee
engagement scores demonstrate that we are cultivating an uplifting culture where
our people are learning, thriving and expanding their capabilities.
We offer a range of learning experiences for managers and employees to enhance
our culture of inclusion. Because conversations about culture, diversity, and inclusion
can be challenging, we encourage these conversations to facilitate constructive
discussions that can foster an uplifting and inclusive workplace. For example, ourannual CEO Day of Understanding ensures we share progress toward our diversity
and inclusion goals, and our Bridging Connections series helps us create authentic
connections. Our Employee Resource Groups (ERGs) serve as a catalyst for our

Trane Technologies / 2022 ESG Reportpeople to appreciate the strength and value of our diverse workforce. In 2022, morethan 13,000 people globally participated in ERG events — a 20% increase compared
to last year. In addition:
 24.2% of management positions were held by women 26.2% of senior leadership positions were held by women 88% of our people participated in the annual employee engagement survey
 near top quartile employee engagement score10

Social Matters
Approach Through a variety of social sustainability initiatives, we seek to engage
directly with the communities where our associates live and work, which helps tocreate shared value and engage our worldwide team in the mission and purpose of
the company. Our commitment to social sustainability is also expressed through our
supplier diversity program.
Our most prominent community initiatives include the Sustainable Futures program,which promotes increased learning for underrepresented students by enhancing
learning environments, accelerating student success and opening career pathways.
We are taking action on specific social and environmental imperatives that createshared value, result in sustained customer and employee loyalty, and improve thecommunities where we have business operations. These actions include increasing
the representation of women and racially and ethnically diverse people in the fields
of science, technology, engineering and math, addressing nutrition and food waste
reductions. Our supplier diversity program embraces suppliers whose ownershipis diverse, including racially and ethnically diverse people, women, veterans, LGBTQ
individuals or people with disabilities.
Due diligence processes We track employee and community engagement data
including the hours and number of volunteers who participate in community orsustainability initiatives. We use a 7-step strategic sourcing process that includes a
Supplier Diversity Matrix, which enables us to avoid using price as the primary driverfor supplier selection.
Policy outcomes/Key Performance Indicators Implementing the Sustainable
Futures program has contributed to our community through associate participationin community sustainability initiatives, and an annual increase in the total numberof hours volunteered and the dollar value of philanthropic giving. And, our supplier
diversity program continues to drive economic growth for diverse-owned businesses.
 Added 113 new diverse suppliers, representing $13.2M in spending, in 2022
 $15.8M+ in total philanthropic giving
 62,274 hours volunteered by employees globally

Human Rights approach We believe in fundamental standards that support ourcommitment to our employees, our business partners, our customers and ourcommunities. We have adopted a number of policies that support our commitment
to human rights.
Our Global Human Rights Policy aligns with basic working conditions and humanrights concepts advanced by international organizations such as the International
Labor Organization and the United Nations. Our Modern Slavery and Human
Trafficking Statement outlines our commitment to taking steps to ensure that humantrafficking and forced labor is not taking place in our supply chain or business. Our
BPCoC prohibits human trafficking, including forced or child labor.
Due diligence processes We engage in reasonable due diligence and screeningof customers and distributors to ensure compliance with laws that regulateinternational trade. We also established a Global Procurement Sustainability Council
to work with suppliers on improving conditions and addressing non-compliances.
In 2022, we used our supplier risk assessment process to review 299 suppliers forenvironmental impacts. Trane Technologies did not identify any suppliers as having
significant actual and potential negative environmental impacts.
Policy outcomes Our Global Human Rights Policy is communicated to
employees through our Code of Conduct training, which includes a course
on anti-human trafficking.

Anti-Corruption & Anti-Bribery
Approach We are proud of our strong business ethics and sustainable businesspractices, and our Leadership Principles. Our purpose, Code of Conduct andLeadership Principles are core to how we operate and serve customers.
Our BPCoC applies to all entities doing business with us and communicates our
expectations that our business partners will practice the highest legal, moral andethical standards when conducting our affairs.
Due diligence processes Business partners and service providers are risk-rated andvetted with higher risk third parties undergoing enhanced compliance due diligence.
We leverage the services of a third-party vendor to research issues from thousands ofglobal public records databases.
Policy outcomes Salaried employees receive role-based, online compliance training
every year. In 2022, 100% of U.S. salaried employees received anti-corruption training.

Trane Technologies / 2022 ESG Report11INTRODUCTION

Awards & Rankings
Each year, we take bold steps to create a sustainable future and advance our 2030 Sustainability Commitments.
We’re honored and proud to share our awards and ratings for our industry-leading sustainability performance fromsome of the world’s top organizations.

Dow Jones Sustainability Index

Just Capital

Sustainalytics[1][2] 12th consecutive year on North America Index,
second on World index

 Ranked 18th on the JUST 100 List

 11th percentile globally Industry Rank: 1st in the Building
Materials & Construction industry

 5th percentile Building Products Industry Leader
1.	Lower percentiles across the Sustainalytics ratings universe
represent better performance.
2. Sustainalytics ratings are from 2021.

EcoVadis

FTSE4Good

CDP[3]

 97th percentile; Gold Medal award winner 8th consecutive year (3rd as Trane Technologies)

 Climate score: A 72/100 advanced overall score 72% higher score than industrial industry
percentile rank

 Water score: B
3.	CDP scores include letter grades A to D-. Over 15,000+ companies scored.

Trane Technologies / 2022 ESG Report12Listings & Other Awards
In addition to the ratings and rankings we received
in 2022, a series of prominent listings recognizedTrane Technologies for our performance andcompany culture: Forbes’ World’s Best Employers
 Fortune’s[1] World’s Most Admired Companies
 Fortune’s[1] Best Workplaces in
Manufacturing & Production
 Reuters 2022 Responsible Business Awards Finalist— Sustainability Trailblazer Award Financial Times “European Climate Leaders 2022”
 Military Times Best Employers for Veterans Human Rights Campaign — Corporate Equality Index
 The Irish Times Top 1,000 Companies
 3BL Media 100 Best Corporate Citizens
1.	From Fortune. ©2023 Fortune Media IP Limited. All rights reserved. Used underlicense. Fortune and Fortune Media IP Limited are not affiliated with, and do
not endorse the products or services of Trane Technologies.

Trane Technologies / 2022 ESG Report13

INTRODUCTION

Data & Frameworks
As Trane Technologies continues to take action and lead by example, we publish
an annual environmental, social, and governance (ESG) report covering ourprogress towards addressing ESG topics that are material to our company and our
stakeholders. This report covers 2022 enterprise-wide information and data for Trane
Technologies, unless otherwise noted. View our ESG Data Center for more information.

Materiality
GRI 2-29, 3-1, 3-2

Conducting a formal materiality process helps us understand the most salient ESG
topics to the business and its stakeholders. In 2022, we conducted a materiality
assessment and updated our topics, which inform our ongoing ESG strategies.
We began the materiality assessment by identifying a wide range of ESG topics.
Following the topic selection process, we engaged over 170 internal and external
stakeholders, who provided valuable insights and feedback on ESG topics throughsurveys and interviews.
External stakeholder feedback informs the vertical (y-axis) of our matrix. The verticalaxis considers how important it is for Trane Technologies to address topics given
their direct or indirect impacts on people and the planet. The horizontal (x-axis) is
informed by internal stakeholders and considers how important each topic is to ourTrane Technologies / 2022 ESG Reportbusiness success. After collecting stakeholder feedback and defining our matrix, we
conducted a topic ranking exercise to determine which topics we should monitor,
those we should maintain and manage for compliance and positive market position,or those we should prioritize as strategic opportunities.
We consider the topics in the matrix’s upper right section (Strategic Opportunities)
to be most material to our company. These priority topics guide our ESG strategies,
initiatives, and commitments. We take an active approach to maintaining, managing,and monitoring all ESG topics relevant to Trane Technologies, including those thatcurrently lie outside our matrix’s Strategic Opportunities section. Over time, our focus
on these topics may shift due to stakeholder interests or business opportunities,
among other factors. We intend to update our materiality assessment regularly toensure our ESG strategies remain relevant, targeted, and impactful.
Our material topics include: GHG Emissions

 Diversity & Inclusion

 Energy

 Business Integrity

 Energy Efficient & Low
Emissions Products

 Climate Risk

 Technology &Innovation

 Company Culture Sustainable Product
Design & Life Cycle

14

Reporting Our Progress

Our Material Topic Matrix
Environment

Social

29 Material Topics EvaluatedGovernance

GHG Emissions

Impact to the Economy, Environment & People

Strategic Opportunities
Invest for transformation of
the business and disclosure

Table Stakes
Continue to maintain, manage,and monitor for complianceand positive market position

EnergyClimate Risk

Diversity &Inclusion

Sustainable Product

Energy Efficient& Low-Emission
Products

Public Policy

Human Rights

Board Oversight

Occupational Health & Safety

Training & Development
Sourcing & Traceability
Waste
Equitable
AccessWater
Nature & Biodiversity

Business Integrity
Technology & Innovation

Employment Benefits

Company Culture

ESG Risk Management
Product Quality & Safety
Supplier Conditions
Disclosure
Pay Equity

Cybersecurity

Supplier Diversity
Community Engagement

Financial Performance

MonitorMonitor for change in influenceon stakeholder assessments orbusiness impacts

Impact to Trane Technologies

We are committed to reporting on these topics and continually enhancing our disclosures on these issues. This
report outlines our management approach, data, and initiatives for each of these material topics. Our report isreviewed by our subject matter experts, the CEES, our internal and external Sustainability Leadership Councils,
senior management, and our Board of Directors.
Materiality, as used in this report and sometimes referenced as “ESG materiality,” is different than the definition
used in the context of filings with the Securities and Exchange Commission (SEC). Issues deemed material for
ESG purposes may not be considered material for SEC reporting purposes.

Trane Technologies / 2022 ESG Report

Our annual ESG Report aligns with leading ESG andsustainability reporting frameworks.
	Global Reporting Initiative (GRI): The
GRI Standards are fundamental to ourreporting process. This report has been
prepared in accordance with the GRI
Standards. See our GRI Content Index foran overview of disclosures on our material
ESG topics.
	
Sustainability
Accounting Standards
Board (SASB): As a diversified
manufacturer, we report to both theElectric & Electronic Equipment and theIndustrial Machinery & Goods industries.
See our SASB Disclosure for details.
	
Task
Force on Climate-related Financial
Disclosures (TCFD): We strongly support
TCFD through supporter sign on and alignwith the Task Force’s voluntary disclosures.
See our TCFD Disclosure for details.
World	
Economic Forum (WEF)
Stakeholder Capitalism Metrics: We
disclose our performance against the
WEF’s Stakeholder Capitalism Metrics
to demonstrate our performance onsustainability topics and contributions
to the United Nations Sustainable
Development Goals. See our WEF
Stakeholder Capitalism Metrics
Disclosure for details and read more
about our alignment with the United
Nations Sustainable Development Goals.
CDP (formerly known as the Carbon
Disclosure Project): We voluntarily
respond to CDP’s Climate Change andWater questionnaires.

15

A Note About Our Data

Forward-Looking Statements

GRI 2-4, 2-5This report contains certain forward-looking statements, which are statementsthat are not historical facts, including statements regarding our 2030 Sustainability
Commitments; our pathway to net-zero by 2050; other ESG targets, goals,
commitments, and programs; and other business plans, initiatives, and objectives.
These forward-looking statements are based on our current expectations and are
subject to risks and uncertainties, which may cause actual results to differ materiallyfrom our current expectations. These forward-looking statements generally are
identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,”“outlook,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “willcontinue,” “will likely result,” or the negative thereof or variations thereon, or similarterminology generally intended to identify forward-looking statements.

Throughout this report, we define our organizational boundary using the financial
control approach and report on Scope 1 and 2 GHG emissions using the GHG
Protocol. We believe this most accurately reflects the direct impact of our operational
footprint. The company’s Scope 3 product-related emissions are those emissions
associated with the product-use phase and cover greater than 95% of the revenue
associated with our diverse product portfolio. For data associated with thecompany’s 2030 Gigaton Challenge commitment, heating and cooling output isnormalized for growth in order to capture product performance improvements.
We report data from newly opened and acquired facilities as soon as valid data isavailable. For recently closed or sold facilities, the data is included for the time period asite was part of the company to ensure year-over-year comparisons remain consistent.
As such events occur, baselines are adjusted to account for these operating footprintchanges. As our data collection system continues to mature and improve, theenvironmental data we report improves in accuracy and expands in breadth.
Data is presented in absolute terms and is normalized by company revenue(intensity). Our safety data is normalized by the number of hours worked.
Our EHS data and GHG emissions data are assured annually by an independent
third party, including the product use emissions contributing to the Gigaton
Challenge. View the results in our 2022 Assurance Statement.

Trane Technologies / 2022 ESG Report

All such statements are intended to enjoy the protection of the safe harbor for
forward-looking statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended. Our actual future results, including theachievement of our targets, goals, or commitments, could differ materially fromour projected results as a result of changes in circumstances, assumptions not
being realized, or other risks, uncertainties, and factors. Such risks, uncertainties,
and factors include the risk factors discussed in Item 1A of our most recent Annual
Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with theSEC. We urge you to consider all the risks, uncertainties, and factors identified above
or discussed in such reports carefully in evaluating the forward-looking statementsin this report.

16

INTRODUCTION

United Nations Sustainable
Development Goals
The United Nations (UN) Sustainable Development Goals (SDGs) inspire individuals, businesses, and nations
to create a more sustainable and equitable world. In line with the SDGs, we set ambitious 2030 Sustainability
Commitments that reflect our deep commitment to addressing environmental, social, governance, and economic
issues. Our deep expertise in the heating and cooling sector allows us to implement and scale industry-changing
innovations. We want our commitments to inspire others and call on those within our industry and beyond to join
our transformative efforts. We used Trucost’s SDG Evaluation Tool to understand where Trane Technologies could
make the most meaningful impacts. Based on the evaluation, we aligned our actions with three primary SDGs.

Trane Technologies / 2022 ESG Report17

SDG 5: GENDER EQUALITY

SDG 7: AFFORDABLE AND CLEAN ENERGY

SDG 13: CLIMATE ACTION

We aligned the Opportunity for All pillar of our 2030
Sustainability Commitments with SDG 5. We strive
for gender parity in leadership and throughout ourorganization and continuously evaluate our hiring
practices to improve where and how we recruit talent,develop our workforce, promote from within, and holdour leaders accountable for enabling opportunities
for everyone.

We continually implement new energy-efficiency
measures across our enterprise and purchaserenewable energy for our operations. As part of
RE100, we’re committed to sourcing 100% renewableenergy by 2040, ahead of RE100 requirements.
Additionally, we create innovative energy-efficient
products and energy-management solutions to
reduce our customers’ consumption profiles. Our 2030
Sustainability Commitments, including the Gigaton
Challenge, reflect our ongoing focus on productsolutions that help buildings and the transportationof perishable cargo consume less energy without
sacrificing performance.

Trane Technologies actively works to reduce GHG
emissions caused by heating and cooling, as well as
food loss during transportation. As a global climate
innovator and sustainability leader, we take bold
actions to decarbonize our footprint internally andexternally by:

Many of our Learning & Development programs focus
on helping women grow into leadership positions at ourcompany. For example, our Women in Action program
helps our women team members learn advanced
leadership skills. We also use a seven-step strategic
sourcing process to evaluate our suppliers on various
factors, including their Diversity & Inclusion policies. We
have a supplier diversity program and continually growour spend with women-owned businesses.

Trane Technologies / 2022 ESG Report Using low-global warming potential refrigerants;
 Developing system-level energy-efficient
product solutions; Providing fully electric heating and transport
refrigeration products;
 Initiating renewable energy programs; and Educating our team members, suppliers,
customers, and other stakeholders on theeffects of climate change

18

Further SDG Support
	SDG 2: ZERO HUNGER	Operation Possible, our crowd-sourcing innovation program
launched in 2021, developed the cooling cart — an innovative,
low-cost solution that helps street vendors preserve produce. The
cooling cart can help reduce food waste and thereby improvethe economic conditions of street vendors. Read more about
Operation Possible in Technology & Innovation.

SDG 3: GOOD HEALTH & WELL-BEING	We provide market-competitive benefits and offer an Employee
Assistance Program. We support our team members throughour parental leave and family care policies. Read more about ourbenefits in Company Culture.

SDG 4: QUALITY EDUCATION
	We are proud of our learning culture and work to advance every
employee’s career growth. We offer programs through Trane
Technologies University and our micro-learning platform toencourage team member career growth. Our educational support
extends beyond our workforce as we contribute to organizations
like Project Scientist and Discovery Education, which enhanceaccess to science, technology, engineering, and mathematics
education for underrepresented groups. Read more about our
Learning & Development programs and educational support inline with our Diversity & Inclusion actions.

SDG 10: REDUCED INEQUALITIES	We made Opportunity for All a core pillar of our Sustainability
Commitments and realize that a diverse, inclusive workforce thatreflects the communities where we live and work will support
Trane Technologies’ future growth and innovation. That’s why we’reinvesting in underrepresented communities, building diverse hiring
pipelines, and aiming for gender parity in senior leadership roles.
Learn more about our Diversity & Inclusion initiatives.

SDG 11: SUSTAINABLE CITIES & COMMUNITIES	We actively work to improve air quality by reducing emissions. For
example, Thermo King® piloted its evolve™ electric refrigerated
trailer in the United States in 2022. The trailer delivered excellent
performance and significantly reduced customers’ emissions
by reducing the amount of diesel fuel used while transporting
perishable goods. Read more about our emission-reducing
products in Energy Efficient & Low Emissions Products.

	SDG 12: RESPONSIBLE CONSUMPTION& PRODUCTION
	We implement strict sourcing processes and hold our suppliers
accountable through policies such as our Business Partner Codeof Conduct and Global Human Rights Policy, among others. We
also invest significant resources in creating an inclusive supply
chain by sourcing from minority-owned businesses. Read more
about our Supplier Diversity practices.

	SDG 9: INDUSTRY, INNOVATION,& INFRASTRUCTURE
	We’re leading the way in resilient and efficient infrastructure throughour building automation services and advanced heat pump andthermal management systems. Read more about our Technology &Innovation solutions that align with sustainable infrastructure.

Trane Technologies / 2022 ESG Report19

Introduction

Ambitions

Environment

SocialGovernance

Products & Innovations

Appendices

Ambitions

We believe that our actions have the power todrive innovation, create sustainable solutions,
uplift the communities where we live and work,and shape our industry for the better.

Sustainability Commitments
Decarbonization: Gigaton Challenge
Customer Focused Solutions
Trane Technologies / 2022 ESG Report20

AMBITIONS

Sustainability Commitments

The three pillars of our 2030 Sustainability Commitments provide a framework to guide our actions.
These actions include setting and pursuing our near-term science-based targets and our 2050
science-based net-zero target. As we build a more sustainable future, we empower partners acrossthe value chain to take bold climate action, enhance life on our planet, and benefit all people whocall it home.

Trane Technologies / 2022 ESG ReportOuO
L u tb
Loogtbisooun
gis tui n d
ticcsdsrceeseosuource
RRactionon
ExEtxrtracti

End of Li
fe

At Trane Technologies, we recognize that climate change is real and exacerbated by human activity.
To avoid the most catastrophic impacts of climate change predicted by the Intergovernmental
Panel on Climate Change, we must collectively take urgent action to limit global temperature rise
to 1.5 degrees Celsius (°C) or less above pre-industrial norms. We believe that every business has
the opportunity and responsibility to make decisions to secure a sustainable future. Guided by
the latest climate science, our mission is to take action and challenge what is possible to shapea better world and healthier planet. From our position at the forefront of sustainability, the future isfilled with possibilities.

Communitiest
ducuctPrPorUosde eUs

U.N. SUSTAINABLE DEVELOPMENT GOALS 

Operations
Operations

PrPocroecses
SS
sin
up
up
plpielirsign/g/
esrs

d
und s
boun tics
Inbo istic
In Loggis
Lo

Leading by Example

Opportunity for All

Gigaton Challenge

Carbon neutrality

Diversity & Inclusion

Reduce customer footprintby 1 gigaton

Zero waste to landfill

Gender equality

Net-positive waterWorld-class safety

Design systems for circularity

Absolute energy reduction

Corporate citizenship

Provide access to comfort& fresh foodCompetitive wages, benefits,& wellness globally

21

The Three Pillars of Our 2030 Sustainability Commitments
We have set goals for 2030 that are aligned with multiple United Nations Sustainable Development Goals to drive progress towards creating a more sustainable
future. Our 2030 Sustainability Commitments cover our entire value chain and use our technology and innovation expertise to address global challenges that affectthe communities where we work and live. We categorize these goals and our science-based targets into three focus areas. You can download overviews on our2030 Sustainability Commitments and the Gigaton Challenge.

GIGATON CHALLENGELEADING BY EXAMPLEOPPORTUNITY FOR ALL

Reduce customer carbon footprint by 1 gigaton[1] Achieve carbon neutral operations

 Achieve workforce diversity reflectiveof our communities

3 Accelerate clean technologies that heat andcool buildings in sustainable ways
3 Increase energy efficiency in buildings, homes,
and transport environments
3 Reduce food loss in the global cold chain
3 Transition out of high-Global Warming Potential
Refrigerants — ahead of regulation
 Design systems for circularity
 Provide access to comfort and fresh food
Our Gigaton Challenge rallies our team members
to innovate to reduce our Scope 3 emissions
and address global challenges related to climatechange. Read more about the Gigaton Challenge.
1.

 Deliver zero waste to landfills
 Become net-positive with water use in waterstressed locations
 Reduce absolute energy consumption by 10%[2]We lead our industry in responsible operations
and encourage our suppliers to follow. Read more
about our approach to GHG Emissions, Waste,
Water, and Energy.
2. Compared to 2019 baseline Achieve gender parity in senior leadership roles
 Maintain world-class safety metrics
 Provide market-competitive wages, benefits, andleading wellness offerings for workforce
 Invest $100 million in building sustainable futures
for under-represented communities
 Dedicate 500,000 employee volunteer hours
in our communities
We create new possibilities and a better world forour people and our communities. Read more about
our approach to Diversity & Inclusion, our Global
Workforce, Safety, and Corporate Citizenship.

1 billion metric tons of carbon emissions (mtCO2e)

Trane Technologies / 2022 ESG Report22

Our Science-Based Targets

Net-Zero Roadmap

In 2022, we became the first in our industry to havea net-zero target approved by the Science Based
Targets initiative. Our emissions reduction commitmentsalign with the Paris Climate Accord net-zero targets,consistent with limiting global temperature rise to no
more than 1.5 °C. We also have near-term sciencebased targets for Scopes 1, 2, and 3 that will guideour emissions reduction efforts through 2030, with
an emphasis on reducing our largest source: theemissions generated from customer use of our
products. Once we achieve our near-term targets, wewill continue reduction efforts and invest in carbon
sequestration technologies to achieve our long-termgoal of net-zero emissions by 2050.

The below graphic describes Trane Technologies’ decarbonization transition plan to achieve Net Zero acrossour value chain by 2050. Read more about our Carbon Footprint by Scope and Corresponding 2030 Emissions
Reduction Commitments in the Climate Change section.
Scope 1 & 2 Reduction
0%

Expanding renewableenergy onsite andthrough VPPAs

Operationalenergyefficiency

Transition to low
GWP refrigerants
and reduce leakage

100%

2019

MAJOR LEVERS TO NET ZERO

Expanding electrification
and route optimizationfor our fleet

MAJOR LEVERS TO NET ZERO
Increasing salesof high efficiency
equipment

Expanding productmix to accelerate
electrification

Refrigeranttransition
management

System-level
energyefficiency

25X25 achieved
Internal initiative to accelerate
Scope 1 & 2 reductions

NEAR-TERM: OUR 2030 TARGETS
 Within our own operations, we commit to reduce
absolute Scope 1 and 2 greenhouse gas (GHG)
emissions by 50% below 2019 levels by 2030.

Scope 3 Reduction

100%

2030
NEUTRAL

EV100 achieved

Carbon Neutral achieved

Gigaton Challenge achieved

Commitment tofully electrify
fleet vehicles

Near-term Science Based Target

Near-term Science Based Target
55% reduction* in productuse emissions

50% absolute reduction in Scope
1 & 2 emissions

 To tackle our largest area of impact — customer
use of our products — we commit to reduce Scope
3 GHG emissions by 55% per cooling ton below
2019 levels by 2030.

Carbon capture
technologies
development andimplementation

EP100 achieved
Commitment to doubleenergy productivity

2040

LONG-TERM: OUR 2050 TARGET We are committed to a 2050 net-zero target inalignment with the latest guidance from the United
Nations Framework Convention on Climate Change
Race to Zero campaign. As a Net-Zero Approved
company by the Science Based Targets initiative,
Trane Technologies commits to reach net-zero GHG
emissions across our value chain by 2050.

Alternative
approaches toheating & coolinginnovations

RE100 achieved
Commitment to source
100% renewable energy

2050
Long-term Science Based Target
90% absolute reduction in Scope
1 & 2 emissions

10% removals/
sequestration

3% removals/
sequestration

Long-term Science Based Target
97% reduction* in productuse emissions

NET ZERO ACROSS VALUE CHAIN ACHIEVED*mtCO2e per cooling ton

Trane Technologies / 2022 ESG Report23

We use GHG emissions per cooling ton to compare
our impact across Trane Technologies’ diverse brands
and product offerings. This market-leading approachallows us to better understand the total impactof two very different products like a Thermo King®
refrigeration unit and a Trane® chiller. With emissions
per cooling ton, we can better forecast our emissions
and understand what changes will have the greatest
overall impact.
Product emission reductions also contribute to ourGigaton Challenge. Our Gigaton Challenge is thelargest climate commitment of any global company
related to product emission reductions within a single
decade. Through the Gigaton Challenge, we commit
to eliminating 1 billion metric tons of carbon dioxide
equivalent from our customers’ footprint by 2030.
Read about our strategies to achieve Our ScienceBased Targets.

Carbon Neutrality
We also commit to achieving carbon neutral
operations by 2030. To get there, we are focused on
absolute reduction of our Scope 1 and 2 emissions
over the purchasing of offsets.
Our approach to minimizing the carbon offsets
needed to achieve carbon neutrality is to invest now
in projects that directly reduce our absolute Scope
1 and 2 emissions using the funds that we would
have otherwise used to purchase offsets every year.
Projects funded through carbon offset purchases
can help fight climate change but will not sequester
carbon at a fast enough rate to avoid catastrophic
planetary changes, so we are focusing first on
updating our operations and processes to maximize
emissions reductions.

Trane Technologies / 2022 ESG Report“Our goal is to lead by example, to show everybody that it can bedone and welcome others to join us on this journey.”
W. Scott Tew, Vice President of Sustainability & Executive Director, CEES

24

Trane Technologies collaborates with like-minded organizations in the pursuit of a better planet. Through our public commitments
and involvement in coalitions, we hold ourselves accountable as we strive to accomplish our ambitious goals.

RE100 & EP100

OneTen Coalition

Trane Technologies is a member of RE100, with agoal to source 100% renewable electricity by 2040,
and a member of EP100, with a goal to double ourenergy productivity by 2035 from a 2013 baseline. We
are also members of EV100, with a goal to transition
our vehicle fleets to electric vehicles by 2030.

Trane Technologies is a founding member of the
OneTen Coalition, a partnership of more than 60
leading employers committed to training, hiring, andadvancing 1 million Black Americans over the next 10
years.

SteelZero
Trane Technologies is a member of SteelZero, a
global initiative working to speed up the transition toa net-zero steel industry. As a SteelZero member, we
commit to procuring 100% net-zero steel by 2050 tocontribute to a shift in the global steel market
towards responsible sourcing and procurement ofsteel. In 2022, Trane Technologies’ annual steel
purchases are 20% green steel.

First Movers Coalition
Trane Technologies is an inaugural member of theFirst Movers Coalition (FMC) launched in 2021 at
the Conference of the Parties (COP26) in Glasgow,
Scotland. FMC members agree to set an ambitiouspurchasing target for a hard-to-abate material.

Trane Technologies / 2022 ESG Report

World Economic Forum Allianceof CEO Climate Leaders

Paradigm for Parity

Dave Regnery, our Chair and CEO, is a member ofthe Alliance of CEO Climate Leaders, an influential
network of business leaders committed to raisingbold climate ambition and accelerating the netzero transition by setting science-based targets,disclosing emissions, and catalyzing decarbonizationand partnerships across global value chains.

Trane Technologies is a member of the Paradigm
for Parity, a coalition of business leaders, board
members, and academics who are committed toaddressing the gender gap in corporate leadership.

Disability:IN

Sustainable Markets Initiative
Our Chair and CEO, Dave Regnery, is a member of
the Sustainable Markets Initiative (SMI) and serves
on SMI’s Sustainable Buildings Task Force. The
SMI was launched by his Majesty King Charles III,in his former role as HRH the Prince of Wales at
The World Economic Forum 2020 Annual Meetingin Davos, Switzerland. The SMI mission is to build acoordinated global effort that enables the private
sector to accelerate transition to a sustainable future.

Dave Regnery, our Chair and CEO, signed theDisability:IN CEO Letter in 2021, extending Trane
Technologies’ commitment to advance equality
and inclusion for all. Disability:IN envisions a global
economy in which people with disabilities participate
meaningfully and fully.

Race To ZeroIn 2021, Trane Technologies joined this global
campaign from the UNFCC to rally leadershipand support from businesses, cities, regions, andinvestors for a healthy, resilient, zero-carbon recovery
that prevents future threats, creates decent jobs, andunlocks inclusive, sustainable growth.

25

Progress Towards 2030 Sustainability Commitments
We track and publicly report our progress towards our sustainability commitments. Data included in the
Gigaton Challenge and Leading by Example pillars are assured by an independent third party.

Gigaton Challenge
Sustainable
Development Goal

2030 Goal

Targets

Progress Toward Goal

Reduce customer carbon
footprint by 1 gigaton

Reduce customer carbon footprint by 1
gigaton (or 1 billion mtCO2e).

Reduced customer carbon footprintby 93 million mtCO2e since 2019.

Design systems forcircularity

Targets across product life cycle stages.

Joined SteelZero Initiative; low-carbon steel
purchase representing 20% of annual use.

Provide access to comfort
and fresh foodInnovate and commercialize low-costsustainable products for developing
markets[1] we don’t currently serve.

Launched nearly 200 new products
and services since 2019.

Key Performance
Indicators

1.	Developing markets are defined by cross-functional teams' regular participation in emerging-technology research and development, regular connections with our customers, and the markets' performance.

Leading by Example
Sustainable
Development Goal

2030 Goal

Targets

Progress Toward Goal

Achieve carbon
neutral operations

Continue to reduce our carbon emissions andoffset any remaining carbon emissions with
Carbon Credits.

We reduced our operational emissions
intensity for Scope 1 and Market-based
Scope 2 by 43% vs 2019.

Reach zero waste
disposed of in landfills

Eliminate waste entering landfills throughreducing, reusing, and recycling nonhazardous waste.

A total of 31 locations overall operated as zerowaste to landfill in 2022, representing 82% of ourmanufacturing facilities. In 2022, we increased
our diversion from landfill to recycling by over 4
million pounds of waste compared to 2021.

Achieve net-positive water
use in water-stressed
locations

Reduce our water consumption and improvewater quality and access to clean water instressed areas.

Trane Technologies has reduced water usage
by 22% vs our 2019 baseline in areas classified
as water-stressed.

Achieve 10% absolute
reduction in energy
consumption

Reduce our absolute energy through energy
reduction projects at our locations andelectronification of our fleet.

We improved our total energy
efficiency/intensity by 18% vs 2019.

Trane Technologies / 2022 ESG Report

Key Performance
Indicators

26

Opportunity for All
Sustainable
Development Goal

2030 Goal

Targets

Progress Toward Goal

Achieve workforce
diversity reflective of ourcommunities

Increase racial and ethnic diversity of oursalaried population in the United States from
17% to 26% by 2030 — an increase of 50%.

We increased racially or ethnically diverse salaried
employees from 18.4% to 19.6% in 2022.

Achieve gender parity insenior leadership roles

Achieve gender parity in senior leadership
positions by 2030.

We increased women in leadershipfrom 24.6% to 26.2% in 2022.

Increase women in management roles
from 22% to 35% by 2030.

We increased women in managementfrom 23.1% to 24.2% in 2022.

Maintain world-classsafety metrics

Lost Time Incident Rate (LTIR): 0.06

LTIR: 0.04 increase vs 2019.

Total Recordable Incident Rate (TRIR): 0.60

TRIR: a decrease of 7% vs 2019.

Provide market-competitive
wages and benefits andleading wellness offeringsfor global workforce

Targets are market specific

All employee compensation is assessed for market
competitiveness and gender/race parity. U.S. hourly
starting wages are 200% above state minimum
wages on average.

Enhance healthy learning environments
Invest $100 million inbuilding sustainable futures and access to healthy foods.
for under-represented
communities
Expand access to science, technology,
engineering, and mathematics (STEM)
education and pathways for green and
STEM careers.
Dedicate 500,000
employee volunteer hours
in our communities

Mobilize employees in our communities
around the world to volunteer with nonprofit organizations.

Key Performance
Indicators

Launched national partnership with Discovery
Education providing middle-schools custom STEM
and sustainability edu-content.
Expanded our non-profit networking, funding
programs with approximately 25 STEM focusedorganizations around the world.
Completed activation of Volunteer Time Off
program, launched global Purple Teams andincreased employee volunteer hours by 100%in 2022.

KEY
Ahead of goal
On track to meet goal
Continued progress, acceleration needed
Behind goal

Trane Technologies / 2022 ESG Report27

People-Powered
To meet our 2030 Sustainability Commitments while delivering innovative solutions for our customers, we integratesustainability into every role and department. Our integrated approach amplifies the strengths and expertise fromevery corner of our organization to contribute to our sustainability efforts. Every team within Trane Technologies isaware of and dedicated to meeting our 2030 Sustainability Commitments, and we believe that working together will
help us reach these goals faster.

“...every employee, wants to have a greater purpose as to why they come towork. At Trane Technologies you’re going to have that purpose.”
Dave Regnery, Chair and CEO

Read more about how sustainability is integrated throughout the organization in our department highlight,
Embedding Sustainability: Finance, and in the Learning & Development section and the ESG Management section.
HIGHLIGHT

Our integrated approach in action
Our Data Analytics teams create solutions
to sustainability challenges across ourorganization. By sharing critical insights for
our Gigaton Challenge and decarbonization
efforts, they collaborate with a variety ofbusiness functions to make informed decisions
and take targeted actions to deepen theirimpact. For example, the Data Analytics team
was instrumental in driving Thermo King’s®
commitment to deliver fully electric productsin every segment of the cold chain (i.e., thetemperature-controlled supply chain) in Europe,
the Middle East, and Africa by 2023. The Data
Analytics team generated analysis and insightsfrom our decarbonization data to help thebusiness understand the market and makedecisions about electrification of their units.

Trane Technologies / 2022 ESG Report28

People-Powered

Communications & Marketing

Finance

Data Analytics

The communications team helps educate our teammembers about the biggest areas of opportunity forour customers. Marketing teams provide information toassist our customers in making the best investments
for themselves and the planet.

The finance team uses metrics to meet financial
expectations while helping track business progress.
Financial and ESG metrics become valuable informationthat enhances how we respond to the market and inspires
innovation, which leads to a more sustainable world.

Data analytics help shape our business strategies by
providing valuable insights. Analytics is truly at the coreof everything we do, and therefore plays a huge role inour enterprise’s financial and sustainability successes.

Information Technology

Global Integrated Supply Chain

Engineering

As a global organization, IT is instrumental ineffectively providing connected tools and developing
database solutions. Our team continuously improves
system automation response, ultimately allowing for
more sustainable customer solutions and businessinsight capabilities.

Our Global Integrated Supply Chain teams support the
reduction of embodied carbon in our products throughlean manufacturing and little-to-no waste systems. These
decarbonizing efforts enable our enterprise to build morevalue for our customers and continue to lead by example
within our industry.

The engine that drives technological sophisticationof our engineering and manufacturing processes is
our engineering team. By working with our productmanagement teams, our engineers can further enhancethe energy efficiency of equipment and improve services,
continually driving down energy intensity for our customers.

Human Resources

Product Management

Sales

At the forefront of attracting and retaining talent, theHR team focuses on building an organization with thetalent and competencies to enhance our products
to meet our customers’ evolving needs in energy
management capabilities.

Our talented product management teams keep a constantpulse on our markets and drive the innovation needed
to attract our customers. They work closely with ourengineering and sales teams to ensure our business grows
with sustainability at the core of everything we do.

Our amazing team of sales leaders builds true
relationships with customers, old and new. They havethe opportunity to communicate key solutions, including
our ability to electrify heating and mobile refrigeration,
as well as manage the energy consumption anddemand of whole buildings, homes, and transport fleets.

Trane Technologies / 2022 ESG Report29

93 million

mtCO2e contributed to the Gigaton Challenge since 2019200k+

tons of refrigerant reclaimed in 2022

AMBITIONS

Decarbonization: Gigaton Challenge
U.N. SUSTAINABLE DEVELOPMENT GOALS 

Climate science research and calculations tell us that approximately 15% of global annual GHG emissions relate
to heating and cooling buildings and homes, and another nearly 10% comes from food lost in transport or neverconsumed. The rising concentration of GHGs in our atmosphere is warming the planet at an alarming rate andincreasing risks of extreme weather events and natural disasters that threaten human life, biological systems, andwell-being. Trane Technologies is uniquely positioned to lead a movement to tackle climate change and empower
our customers to decarbonize. And that’s just what we’re doing.
We are reducing 1 gigaton of GHG emissions (1 billion mtCO2e) from our customer footprint by 2030. We are
actively building a future where homes and buildings can balance responsible energy use while maintaining highstandards of indoor environmental quality. We are providing infrastructure solutions that displace fossil fuel use
and dramatically enhance energy efficiency and deploying these solutions at scale to help mitigate the risks that a
warming world poses.

Progress toeliminating
1 billion mtCO2e

9.3%

CO2e

Our actions are already making an impact. Since 2019, our reductions are equivalent to 93 million mtCO2e.

Trane Technologies / 2022 ESG Report30

The Gigaton Challenge Guides Us
The Gigaton Challenge is the first-of-its-kind climate commitment related to customer
product use of any business-to-business company. It guides our mission to change
the way the world heats and cools buildings and moves refrigerated cargo. To
achieve our Gigaton Challenge, we are taking action to reduce our customer carbon
emissions from the use of our products and services from a 2019 baseline through2030. Four levers provide the largest opportunity for customer decarbonization andwill help us achieve the Gigaton Challenge.

High-Efficiency Equipment
Accelerate use of high-efficiency equipment with an entire
system-level approach to buildings, homes, and transport;
utilizing climate management to further enhance energy
efficiency, expand electrification, reduce costs, and strengthen
regulatory resiliency.

Reduce Food Loss
Increase sales of temperature-controlled transportation indeveloping countries in order to reduce food loss in the
global cold chain.

System-Level Energy Efficiency
Increase projects that include building envelope
improvements, controls, lighting upgrades, as well as
energy and maintenance services.

Refrigerant Transition Management
Transition equipment ahead of new global warming potential
regulations and encourage an increase in refrigerant
reclamation through our Reclaim Program.

Trane Technologies / 2022 ESG Report“Whether modeling for decarbonization during designand validation, reducing complexity on the day of
installation, or optimizing energy efficiency during
operation, our updated software, all-electric systems,
and updated unitary models help to empower owners
to create the right solution for their building.”
Dave Molin, Vice President, Product Management,
Commercial HVAC Americas

Our expertise gives us the unique ability to understand how companies in different
markets compare when it comes to forecasting and reducing emissions. Throughour products and services, we work to drive value for our customers, helping themmeet their sustainability goals and advancing on their carbon reduction journey.
Read more about the products and services that contribute to the Gigaton Challenge.

31Calculating Our Pathway to Success

Looking Forward

We add the lifetime emissions generated by all products sold during that calendar
year together and compare that to the lifetime emissions generated by all products
sold during our baseline year of 2019. The difference in emissions between thecurrent year and baseline year is that year’s product emissions contribution to the
Gigaton Challenge. This annual absolute product emissions reduction is externallyassured and contributes to our Scope 3 science-based target. Read more about
Our Science-Based Targets.

Bold commitments like the Gigaton Challenge demonstrate how we are leading ourindustry to a more sustainable future. As we innovate and work with customers to
improve the way we heat and cool buildings and transport perishable cargo aroundthe world, we will continue to share knowledge and inspire other companies to makeequally ambitious commitments. Because together, we can turn action into impact.

We also calculate the cumulative customer emissions avoided through our services,which positively contributes to our Gigaton Challenge. We use a proprietarycalculation methodology because no universal standard is widely applied to
calculate avoided emissions. We measure and calculate avoided emissions
separately from absolute emissions reductions, though both are important aspectsof the Gigaton Challenge. Read more in our Gigaton Challenge Playbook.

Annual Reduction in Emissions
Baseline

2019 ProductUse Emissions

Electrification

Refrigerants

Annual Product Emissions Contribution

Every year, Trane Technologies calculates the reduction in product emissions andemissions avoided through services for that year. Our goal is to have the cumulative
annual contributions add up to 1 gigaton of GHG emissions (1 billion mtCO2e)by 2030. Our calculations cover our complete product portfolio of over a million
configured and non-configured products.

2030 Gigaton Achievement

We made the conscious decision to set 2019 as our baseline year, rather thanincluding our emissions reductions from the past 5 or 10 years, because the planetneeds our industry to change now. Our ambition is to make a significant impact as
quickly as possible.

Annual Product Emissions Calculation

High Efficiency
Equipment

2019

Cumulative Reduction in Emissions Over Years

2030

Electricity emissions((Annual kilowatt-hour consumption *capacity) / product efficiency) * localized
electric grid factors

Fuel emissions((Annual fuel consumption * capacity) /product efficiency) * fuel emission factors

Refrigerant emissions

Lifetimeemissionsof productmtCO2eAnnual Services Avoided Emissions
Services that help us reduce our customer carbon
footprint which are calculated separately from our
product emissions. ALL avoided emissions are apositive contribution.

((1-recovery rate) + leak rate) * refrigerant
charge * global warming potential

Trane Technologies / 2022 ESG Report32

AMBITIONS

Customer Focused Solutions
GRI 2-29

At Trane Technologies, we are dedicated to finding
innovative solutions that help our customers achieve
their sustainability goals. Our customers have thepower to make an impact on the planet, and we wantto support them in their journey to make a difference.
We lead the way to inspire and show our customers
what is possible, and we partner with them to build asustainable world for future generations.
Our product innovations in electrification, energy
efficiency, and the use of low-global warming potentialrefrigerants help customers reduce the emissions
from their buildings, homes, and refrigerated transport
without sacrificing safety or operating performance.
Not only do we extensively test our products andservices to ensure optimal performance, but wealso help customers of all sizes, from homeowners
to global operations, to reduce costs, become moreenergy efficient, and meet sustainability targets.

Trane Technologies / 2022 ESG Report

In 2022, our engineers successfully surpassed U.S.
Department of Energy requirements for the Residential
Cold Climate Heat Pump Challenge for high-efficiency
heating in freezing temperatures. Read more about
our rigorous testing efforts and heat pumps in the
Circularity: Product Life Cycle & Materials section.
To show our dedication to supporting our customers
as they work towards their decarbonization goals,
we have committed to our Gigaton Challenge — toeliminate 1 billion metric tons of carbon emissions
from our customers’ footprint by 2030. This is the firstof-its-kind climate commitment related to customer
product use of any business-to-business company —and essential to combatting climate change.

Customer Satisfaction
The well-being of our customers and the planet is at
the center of everything we do, so we strive to createhigh-performing products with a positive impact that
our customers can rely on. Residential HVAC and
Thermo King® products are distributed by certified
dealers who build meaningful relationships with ourend customers and help them find the right products
to meet their unique needs. Dealers participate inextensive training to fully understand our brand andmust maintain a high customer satisfaction rating tosell our products. Many of our dealers have sold our
products for over 25 years.

33

The Thermo King® SmartSaver solution is a tool
developed to support customers located in Europe,
the Middle East, and Africa interested in fuel savings
when switching to the Thermo King Advancer solution.
Based on their annual fuel consumption, customers
can calculate an Advancer fuel-savings target. The
tool not only calculates expected fuel cost savings
but also showcases the reduction of GHG emissions
when purchasing our innovative Advancer. This is justone way Trane Technologies supports customer costsavings and sustainability goals — all in one.
We listen to our customers and use their input todrive our business. We measure satisfaction throughcustomer relationship surveys that provide insight into
our customers’ sentiment and loyalty. A dashboard
tracks critical key performance indicators, including
our customer experience score. Our team reviews
nearly 15,000 comments left by residential productcustomers on our Trane® website and groups theminto themes for additional analysis.
We also capture channel and end-customer feedback
on a quarterly basis for each business through a
global measurement process. Business leaders review
feedback and develop action plans to address items
that require corrective action to meet stated customer
experience targets. We report progress towards
complete customer satisfaction annually.

HIGHLIGHT

State of New Mexico
Trane worked with the State of New Mexico
to modernize and decarbonize 32 aging
government buildings through its State Buildings
Green Energy Project. The project is expected tooffset 7,400 mtCO2e, conserve 5.1 million gallons
of water, and save $1.1 million for taxpayers.

Helping our customers achieve their sustainability
and financial goals drives Trane Technologies’
innovation. We are committed to putting the needsof our customers at the center of our conversations
so that we can offer them products that fit their
specific needs and help them contribute to asustainable future. We are proud of how our customer
partnerships can save money, reduce emissions,and improve indoor environmental quality, among
other outcomes, and we will continue to amplify ourcustomers’ successes.

“We want to be wise stewards of taxpayers’ dollars, so a project like thisthat saves money while saving energy is just a win-win. But I’m also proudof the fact that the building’s going to be a healthier place for my staff andthe public who visit us.”Sarah Cottrell Propst, Cabinet Secretary of the Energy, Minerals and Natural Resources
Department, State of New Mexico

Trane Technologies / 2022 ESG Report

34

WALMART

POWHATAN COUNTY PUBLIC SCHOOLS

Thermo King completed initial testing of its evolve™
electric refrigerated trailer with Walmart and other
U.S. based retailers. During more than 2,500 hours ofoperation, the battery-powered refrigerated trailer unit
delivered excellent performance, ensuring precise
climate control to keep food fresh, maximizing its
shelf life. With zero direct emissions, the electric trailer
technology can help significantly decarbonize thecold chain.

Trane helped Powhatan County (Virginia) Public Schools
complete district-wide upgrades to increase energy
efficiency and enhance the learning environment
for the district’s 5,000 students. Upgrades fundedby future energy savings reduced energy costs bymore than 20% and cut GHG emissions by morethan 1,500 mtCO2e.
Read More Read More 

NEIMAN MARCUS GROUP/BERGDORF GOODMAN
Trane partnered with Neiman Marcus Group to develop adecarbonization roadmap for its real estate, starting with
the installation of electric chillers at its flagship New York
City storefront, the Bergdorf Goodman store. The project
eliminates all direct natural gas use at the landmark
building and puts Neiman Marcus at the forefront ofenergy innovation, setting an example for buildings
across New York City on the path to a net-zero future.
Read More 

DERBY COLLEGE

FIFE CREAMERYA HOMEOWNER IN TENNESSEE

Trane helped Derby College in the United Kingdom
decarbonize its Broomfield Hall campus by installinga thermal management system. As part of the United
Kingdom’s Public Sector Decarbonization Scheme,
Trane installed a combination of air and water-source
heat pumps in cascade configuration to provide 600
kilowatts of heating, saving 790,000 kilowatt-hours inenergy and 532 mtCO2e.

Thermo King and Frigoblock partnered with Scotlandbased Fife Creamery to replace diesel-poweredrefrigeration units with compressor-driven and electric
inverter-powered refrigeration units to reduce
emissions and cost without compromising the cold
chain. The new solutions will allow Fife Creamery to
reduce their fuel consumption by up to 200,000 liters
a year, saving almost 2,000 mtCO2e and more than
$425k per year.

When Don’s aged heating, ventilation, and air conditioning
units needed upgrading, he opted for the top-of-the-line
efficient package from a local Trane residential dealer,
including XV20i TruComfort Variable-Speed heat pumps
paired with the Trane ComfortLink® II XL1050 Thermostat.
The upfront investment in energy efficiency provided
a cost savings of around $200 each month. To Don,sustainability means using the technology we have today
to create efficiency and saving gains.

Read More Read More Read More Trane Technologies / 2022 ESG Report

35

Introduction

Ambitions

Environment

SocialGovernance

Products & Innovations

Appendices

Environment

We are dedicated to transforming our company
and our industry to combat climate change.
We are taking bold steps towards achieving
our science-based targets, reducing ourenvironmental impacts, and uplifting stakeholders
through collaborative partnerships so that we
can take action now towards a sustainable andresilient future.

Climate Change
Greenhouse Gas Emissions
EnergyWaste
Water
Trane Technologies / 2022 ESG Report

36

31%

reduction in Scope 1 and 2 absolute emissions fromour 2019 baseline, toward our science-based target
goal of 50% reduction by 2030.

20%

reduction in emissions per cooling ton[1] for Scope 3
product use from our 2019 baseline, toward our sciencebased target goal of 55% reduction by 2030.
1.

Emissions per cooling ton equals total emissions divided by total capacity/tonnage

ENVIRONMENT

Climate Change
U.N. SUSTAINABLE DEVELOPMENT GOALS 

GRI 3-3, 201-2

At Trane Technologies, we are pushing the boundaries of innovation and ambition to
reduce our environmental impacts and address climate change. By engaging with
suppliers, fostering collaboration through external partnerships, and working internally todevelop new technologies, we are reducing emissions, improving energy efficiency, andasking more of ourselves and our partners to drive progress.

Our Footprint
In 2019, we completed a greenhouse gas (GHG) emissions inventory, aligned with the
GHG Protocol, of our Scope 1, 2, and 3 emissions to serve as a baseline for the next 30
years. We chose this baseline, which represents an average production year, to allow us
to set ambitious emissions reduction targets and strategies.
Trane Technologies / 2022 ESG Report

Our climate change ambitions led us to create the Gigaton Challenge as part of our2030 Sustainability Commitments. The Gigaton Challenge is the first-of-its-kind climate
commitment related to customer product use of any business-to-business company.
The Gigaton Challenge, along with our other 2030 Sustainability Commitments, extends
to all aspects of our value chain, and we encourage participation from our internalteams and external partners to tackle climate change and create a clear path towards
decarbonization. Read more about the Gigaton Challenge.
We continue to focus our GHG emission reduction efforts on our largest area of impact
within our Scope 3 emissions: customer use of our products. These emissions make upover 90% of our carbon footprint, compared to the less than 1% of our total emissions
generated from our operations (Scopes 1 and 2). Through the Gigaton Challenge, wetargeted efforts to reduce our Scope 3 emissions, in addition to strategies that wedeveloped to address our Scope 1 and 2 emissions.

37

Our Carbon Footprint by Scope
and Corresponding 2030 Emissions
Reduction Commitments

93.43%

CO2e

6.46%

93.37%of total emissions addressed by

0.12%

Gigaton Challenge

NEUTRALUPSTREAM

EmployeeCommuting

Upstream
Logistics

Business
TravelFuel-andEnergy-related
Activities

Science-Based
Target Scopes 1 & 2

Science-Based Target Scope 3

OUR OPERATIONS

LeasedAssetsWaste From
Operations

Purchased Goods& Services

SCOPE 3

Electricity

SCOPE 2Trane Technologies joined H2ForNetZero, a global initiative focused on accelerating theuse and production of hydrogen with the lowest possible carbon intensity in serviceof reaching net-zero and the Paris Agreement. We are committed to pursuing all clean
energy solutions, including those based on low-carbon hydrogen, as we endeavor tomeet our 2030 Sustainability Commitments.

Emissions Reduction Commitments

Refrigerants

Fossil Fuels

Owned
Vehicles

SCOPE 1DOWNSTREAM

Manufacturing& Offices

Product
End-of-Life

Use of Sold
Products

Downstream
Logistics

SCOPE 3targets, verified by the Science Based Targets initiative, and a long-term 2050 netzero target. In 2022, Trane Technologies became first in our industry and also oneof the world’s first companies across all industries to be net-zero validated by the
Science Based Targets initiative.
Trane Technologies acknowledges the importance of emerging technologies
to remove and sequester carbon emissions. We are committed to assessing
the inclusion of technologies such as direct air capture to help achieve our2050 Net-Zero target.

We developed our climate change strategy based on the latest scientific research
and a dedication to limiting global temperature rise to no more than 1.5 degrees
Celsius. Our strategy includes near-term Scope 1, 2, and 3 emissions reduction

Trane Technologies / 2022 ESG Report38Partnerships
We partner with organizations that both challenge and support us as we meet ourcommitments and drive the next generation of climate solutions. In 2022, we joined
the U.S. Department of Energy’s Better Climate Challenge, a national initiative aimed
at mitigating climate change impacts while bolstering the clean-energy economy. To
contribute to the Better Climate Challenge, we have committed to a 50% reduction inabsolute Scope 1 and 2 emissions by 2030. We look forward to leading by example
as we decarbonize our portfolio of buildings, plants, and fleets and sharing effective
strategies to transition our economy to clean energy.
As a founding member of Drawdown Labs, we are working to help the world reach apoint when the level of GHGs in the atmosphere begins to steadily decline. Drawdown
Labs supports the development and cultivation of equitable climate solutions, and wecontinue to engage in discussions with corporate leaders and team members aboutfinding climate solutions to accelerate decarbonization and go beyond net-zero.
During the Sustainable Innovation Forum 2022 at the 27th Conference of the Parties(COP27), Trane Technologies joined several climate action dialogues focused on thecritical environmental and social factors and scalable solutions needed to successfully
enable the transition to net-zero. Trane Technologies leaders encouraged the industry
to take action through developing robust policies, accelerating the implementation ofsustainable and energy-efficient technologies, and finding innovative solutions to global
climate challenges.
Read more about other important coalitions and partnerships for climate action in the
Ambitions section.

Our Chief Sustainability Officer has direct oversight over our 2030 Sustainability
Commitments. Our Gigaton Challenge, reducing 1 billion metric tons of carbon
emissions from our customers footprint, includes the reduction of food loss within thecold chain. By increasing global access to the cold chain, we reduce pressures on land
used to compensate for food loss. Through our comprehensive 2030 and 2050 GHG
goals, we are reducing emissions of our own operations and those of our customers,
thus reducing climate change impacts such as biodiversity and habitat loss, which
are from rising temperatures and sea levels. We seek to manage, improve, and focus
our efforts on several areas including product impacts, manufacturing and resource
impacts, people and community engagement and more.
As we design our products for circularity and zero waste to landfill, we reduce ourreliance on virgin materials that must be otherwise extracted from nature. We recognize
the carbon intensity to produce steel for our products and have joined the First Movers
Coalition and SteelZero initiative. By reducing our embodied carbon emissions, welower the system-wide impacts, including physical risks posed by climate change
and to nature from material extraction, and we help lead market transition towards
low carbon options in hard-to-abate sectors. To limit need for wood-based and singleuse plastic products within our supply chain, we encourage our suppliers to use
reusable/returnable packaging. Trane Technologies also has an internal Sustainability
Ambassador Program and Purple Teams program, which encourage localized
community engagement including incentives for volunteer time to build deeper ties
with civic, education, and charitable groups all of which are focused on positive impact.
Many of these programs impact nature and biodiversity within the communities our
employees live and work based on local needs and interest. Operation Possible, ourinternal crowd-sourcing innovation program, helps solve local and global issues like foodloss in developing economies and mismanagement of plastic waste.

Read more about our innovative solutions in the Energy Efficient & Low Emissions
Products section and Technology & Innovation section.

Positive Impact on Natural Systems
Trane Technologies recognizes the importance of biodiversity and natural capital forthe planet. Guided by science, we know climate change along with other humanactivities has a major impact on global biodiversity. Although Trane Technologies
works towards ensuring positive impacts on biodiversity and in reducing any direct
impacts, we recognize our global facilities and overall contribution to global GHG
have an indirect impact. We are committed to leading localized biodiversity efforts
while striving to track, manage, and improve upon such efforts.

Trane Technologies / 2022 ESG Report39Our 2030 Net-Positive Water commitment ensures we are tracking our water use
to protect natural watersheds, reducing our overall water usage, and seeking ways toincrease access to fresh water in threatened watersheds and regions. We track monthly
water use and effluent discharge with the Benchmark ESG® Environmental, Health, andSafety management system. Since each location has specific regulatory requirements
and risks, each facility has its own internal action threshold. Since 2019, we have reduced
water use at facilities in water-stressed regions by 22%, ensuring water availability for
local wildlife and increasing groundwater recharge time.

Climate Change Community Impact
We acknowledge that the effects of climate change will disproportionately affectunderrepresented and poorer communities. According to the Intergovernmental
Panel on Climate Change, creating inclusive, sustainable adaptation plans andresilient development is critical to climate equity. At Trane Technologies, we see anopportunity to support environmental, social, and economic change shaped by thediverse perspectives of our workforce. Our strategy is guided by the International Labor
Organization Guidelines for a Just Transition.
No one-size-fits-all approach exists for the community impact of climate change
because each community has different needs. Through individual sustainability goals,
we encourage our team members to apply their unique perspectives to challenges intheir communities as part of our yearly performance management process. Often, thesegoals are shared among employees, leading to group collaboration on sustainability
initiatives. We value the diverse ideas of our team members and explore ways to support
them. We also use this feedback to shape our approach to community impact throughour environmental, social, and governance (ESG) strategies.
Community impact takes many forms at Trane Technologies. At the individual projectlevel, Operation Possible most recently focused on action to reduce food loss while
enhancing economic conditions for those in developing nations. Thermo King’s®
electrified transportation pilot programs, such as our partnership with Walmart, reduce
emissions, improve air quality and reduce noise pollution in local communities. In
addition, when we partner with customers on comprehensive energy management
solutions, we support a pipeline of local green jobs — for example, Trane’s partnershipwith the State of New Mexico to decarbonize its state buildings.
At the enterprise level, we take action by investing in science, technology, engineering,and mathematics programs and work to increase access for underrepresented
communities. We hire team members reflective of the communities in which we operate
and offer robust development programs to enhance career growth for our workforce.
Our Research, Development, and Innovation is guided by principles increasing
equitable access to comfort and fresh food as well as design for smart, sustainable
cities. We also advocate for environmental policy changes that lead to clean-energy
infrastructure and low-global warming potential refrigerant use.
We take a holistic approach to addressing climate impacts and recognize theconnections between environmental and social impact and economic stability. As wework towards achieving our 2030 Sustainability Commitments, we continually examine
how our efforts can contribute to a just transition that empowers people and creates
equitable climate change resiliency.

Trane Technologies / 2022 ESG Report40

Climate Risk
GRI 3-3, 201-2

In 2022, Trane Technologies performed a quantitative and qualitative climate
scenario analysis to identify and manage emerging and existing climate-relatedrisks and opportunities to the business. Scenario analysis is used to enhance theresiliency of the organization through assessment of potential futures surrounding
policy developments and market shifts, physical impacts, as well as interpreting
the implications and impacts under different future scenarios. The climate scenario
analysis for transition risks and opportunities included direct consolidated operations
and excluded upstream and downstream suppliers, organizations, customers, andother operations not within direct consolidated control of Trane Technologies. The
physical climate risk assessment included 45 priority locations around the world andtheir insured asset values, which included several facility types such as manufacturing,
office, and research and development.

Our Enterprise Risk Intelligence Committee integrates climate-related risks andopportunities into the risk management process and is a key part of ESG oversightand management. The Enterprise Risk Intelligence Committee works closely with theEnterprise Leadership Team throughout the year to evaluate, manage, and plan climate
risk management for the businesses’ upstream, downstream, and direct operations.

Commitment to Transparency
Trane Technologies maintains a strong commitment to transparency andgovernance, and reports in alignment with leading ESG and sustainability reporting
frameworks. Additionally, our environmental, health, and safety data and GHG
emissions data, including the product-use emissions data associated with the
Gigaton Challenge, are assured annually by an independent third party, including
the product-use emissions contributing to the Gigaton Challenge. View the results inour 2022 Assurance Statement.

CLIMATE RELATED RISKS & OPPORTUNITIES
Physical Perils

Transition Risks

 Extreme heat Technology substitution
and obsolescence Extreme cold
 Extreme precipitation
 Flood Exposure to emerging
GHG emissions regulationand taxation

Aggressive Climate Action(Physical only: IPCC SSP1-2.6, Transition only:
IPCC SSP1-1.9, Low Energy Demand IAMIC 1.5 C)

Moderate Climate Action(IPCC SSP2-4.5)

Insufficient Climate Action(IPCC SSP5-8.5)

TIME HORIZONS Wildfire
 Drought

Opportunities

 Chronic temperature Increased demand for
low-emissions products
and services

 Chronic precipitation

SCENARIOS

Short Term: 1–3 years
Medium Term: 3–10 years
Long Term: 10–30 years

Trane Technologies / 2022 ESG Report

41

20%

129,506of Trane Technologies’ annual steel purchases are low
carbon steel as of 2022

mtCO2e reduced in Scope 1 and 2 market-based
emissions from a 2019 baseline

ENVIRONMENTGreenhouse Gas Emissions
GRI 3-3, 305-1, 305-2, 305-3, 305-4, 305-5

To reduce GHG emissions across our operations, we work with representatives incross-functional groups to find and implement solutions. To achieve our sciencebased targets to reduce our absolute Scope 1 and 2 GHG emissions by 50% by
2030 from a 2019 baseline and reduce our Scope 3 GHG product-use intensity
metric of emissions per cooling ton by 55% over the same timeframe, we constantly
evolve our strategy through innovation and collaboration.
Our Vice President of Sustainability & Executive Director, Center for Energy Efficiency
and Sustainability (CEES) oversees our emission reduction strategy and works withkey senior leaders to help create annual goals, obtain science-based validation of
our reduction targets, establish pathways and reduction strategies, and track ourprogress towards our decarbonization efforts.

Our Vice President of Environmental, Health, and Safety leads our operationalemission reduction strategy and reports on our internal progress and targets. Using
our Benchmark ESG® platform and customized GHG Dashboards and reports, ourbusiness units and individual operation locations can monitor their performance
regularly and adopt site-specific annual emissions reduction goals based on theirperformance. The Benchmark ESG® platform collects energy data from each of
our locations, calculates monthly emissions using energy type and corresponding
emissions factors, and tracks trends and performance. Trane Technologies follows
an annual internal assurance process and conducts an internal audit to confirm theaccuracy of our emissions calculations. We then use an independent third party toverify our Scope 1, 2, and 3 GHG emissions data.
Read our independent third party 2022 Assurance Statement.

Trane Technologies / 2022 ESG Report42

Scope 1 & 2 GHG Emissions
Refrigerant losses, electricity, and fuel emissions are the main contributors
to our Scope 1 and 2 GHG emissions. Read more about our electricity
consumption in Energy.
In 2022, we continued investing in emission reduction strategies to reduce theneed to purchase verified carbon offsets to contribute to our goal of achievingcarbon neutrality in 2030. Read more about our commitment to carbon neutrality.
In 2022, our Scope 1 and 2 market-based GHG emissions decreased by
27,049 metric tons of carbon dioxide equivalent (mtCO2e) compared to 2021.
We reduced operational emissions intensity[1] for Scope 1 and absolute marketbased[2] Scope 2 by 43% from a 2019 baseline, and we achieved a 25% reduction
in absolute location-based[3] GHG emissions from a 2019 baseline.
Read more about our GHG emissions metrics in the ESG Data Center.
1.	Intensity: the GHG emissions impact per unit of physical activity or unit of economic output. Trane Technologies’ GHG
intensity represents market-based emissions per cooling ton. Definition adapted from the GHG Protocol.
2.	Absolute market-based: based on Trane Technologies’ total purchased energy consumption and the average
emissions intensity of the grid in the geographic locations where consumption is occurring. Definition adapted fromthe GHG protocol.
3.	Absolute location-based: based on Trane Technologies’ total purchased energy consumption and the emissions
intensity associated with the specific energy suppliers and products that Trane Technologies’ chooses to use. Thisvalue incorporates the renewable electricity that Trane Technologies is proactively procuring. Definition adapted fromthe GHG Protocol.

31% Reduction in Absolute Market-Based
Scope 1 & 2 GHG Emissions
From a 2019 Baseline

2019

2022

0

100,000

200,000

Trane Technologies / 2022 ESG Report

300,000

400,000

500,000

REFRIGERANT EMISSIONSManaging refrigerant emissions is one of the highest priorities for Trane
Technologies as we reduce our Scope 1 and 2 emissions. Hydrofluorocarbons(HFCs) are potent GHGs that have 100 to 1,000 times higher global warming potential(GWP) than carbon dioxide; according to Project Drawdown, addressing HFC
refrigerants is the highest potential emissions reduction solution. Emissions fromrefrigerant loss makes up approximately 49% of our Scope 1 GHG emissions. In 2022,
we shifted our approach to use new refrigerants with lower GWP for run testing at
our manufacturing facilities. To prepare for this shift, we established a cross businessand cross-functional team to redesign our refrigerant storage, dispensing, andrecovery systems at our manufacturing locations. At our plant in Arecibo, Puerto Rico,
we stopped using R404A in favor of R452A, a refrigerant with a 50% lower GWP. This
shift resulted in a 29,000 metric ton reduction in emissions.
By transitioning to low-GWP refrigerants and following technical procedures andmanagement standards designed to eliminate leaks and reduce direct GHG
emissions, we lowered GHG emissions from refrigerant leaks by 41% from a 2019baseline. In addition to reducing leaks and accidental losses at our manufacturing
facilities, we have led the broader industry-wide transition to low-GWP refrigerants
through our innovation and our advocacy efforts. Our leaders were deeply engaged
in negotiations for the Kigali Amendment, which was ultimately signed by 170
countries that committed to reducing their use of HFC refrigerants. Read more
about our support for the Kigali Amendment in Public Policy.

43

HIGHLIGHTHIGHLIGHT

Electrification of heating, reducing fossil fuels

Accelerating decarbonization in our operations

In 2022, our facility in Charmes, France, transitioned to electric heatingby eliminating older, inefficient natural gas boilers. These newly installed
heating systems will reduce our carbon footprint at the location and reduceenergy costs. We installed three Trane Sintesis™ Advantage CXAF air-to-water
reversible heat pumps and two Trane CITY RTSF water-to-water heat pumps.
Through this conversion, our Charmes facility reduced annual energy use by
over 800,000 kWh.

We commit to achieving carbon neutral operations in 2030, and in 2022 we
implemented internal, interim targets to inspire and enable our teams to takeaction. Our Chair and CEO, Dave Regnery, challenged our team members toaccelerate the decarbonization of our operations by reducing GHG emissions(Scopes 1 and 2) 25% by 2025, using a baseline of 2021. To achieve our 25x25
decarbonization goal, we are completing initial transformations to low-GWP
refrigerants, enhancing refrigerant leak prevention systems; transitioning toenergy-efficient heating, ventilation, and air conditioning (HVAC) systems withsmart controls; optimizing air compressor systems; finishing conversions tolight-emitting diode (LED) lighting with smart controls; and completing initial but
critical steps to shift away from fossil fuel use. Our enhanced goal embodies
our commitment to taking immediate action to address climate change.

Trane Technologies / 2022 ESG Report44

Scope 3 GHG Emissions

FUEL EMISSIONS
We continue to acquire hybrid vehicles to modernize our North America Commercial
HVAC service fleet. As our Logistics team monitors technology and infrastructureadvancements, we are preparing for a shift to a fully electric fleet. As part of ourmembership in EV100, we commit to transition our vehicle fleets to electric vehicles
by 2030. In 2022, our fleet used approximately 6.4 million gallons of gasoline andapproximately 997,000 gallons of diesel fuel. By the end of 2022, we also modernized
our fleet to 10% hybrid and full electric vehicles. Our fleet fuel efficiency decreased
to 17.6 MPG given the lack of newer model year vehicles (gasoline, diesel, hybrid orelectric) available to purchase due to the global supply chain challenge.
Trane Technologies recognizes advances in fuel technology as the next step to amore sustainable world. We commit to using Sustainable Aviation Fuel (SAF) whenavailable for our air travel but are currently limited due to availability and accessibility.

Other Air Emissions (Nitrogen Oxides,
Sulfur Oxides, & Volatile Organic Compounds)
12% reduction in other air emissions
from a 2019 baseline

METRIC TONS400

Our largest opportunity for emission reductions is from the use of sold products
by our customers, which alone accounts for approximately 90% of our total
emissions. To address this opportunity, we set a 2030 science-based target to
reduce Scope 3 emissions by 55% per cooling ton as an intensity metric andcreated the Gigaton Challenge.
In 2022, we achieved a 20% reduction in our Scope 3 product-use emissions
intensity metric (emissions per cooling ton), indicating that we are on track toachieve our science-based Scope 3 target. It also indicates steady progress towards
the Gigaton Challenge with a reduction of 93M mtCO2e since 2019.
In 2022, we continued to refine our methodology for calculating Scope 3 productuse emissions. This includes accounting for new products and services in ourabsolute emissions number, adding to the millions of products and services soldsince 2019 that are already in our calculation.
We reduce product-use emissions through three product development strategies.
High-efficiency equipment: Higher-efficiency products consumeless electricity and have fewer related indirect GHG emissions.
We continually expand our product portfolio to include moreinnovative and efficient equipment and digital solutions to help ourcustomers decarbonize.

300
Electrification: Transitioning from fossil fuel-sourced products
to electricity-sourced products — such as replacing a boiler
with a heat pump — reduces reliance on fossil fuels. We offer
customers world-class electrical product options to support theirdecarbonization efforts.

200
100
0
2019

Trane Technologies / 2022 ESG Report2022

Refrigerant transition management: We innovate productsthat use next-generation, low-GWP refrigerants that enable ourcustomers to transition away from high-GWP refrigerants andreduce their HFC emissions. We also help our customers manage
their refrigerants by reclaiming and recycling used refrigerants.

45

We also reduce our upstream and downstream distribution and transportation
emissions through route optimization, fuel efficiency, and shipment utilization
improvement projects with logistics partners. Where possible, we implement
region-of-use manufacturing operations and manage our supply chain to reduce
the number of miles that our materials and products travel before reaching ourcustomers.
Read more about our Energy-Efficient & Low-Emissions Products. Read more
about our Scope 3 emissions in the ESG Data Center section and our logistics
strategy in the Supply Chain Transparency & Performance section.

Looking Forward to a Resilient Future

HIGHLIGHT

Decarbonizing our supply chain
through low-carbon steel
To rapidly decarbonize our supply chain, we pursue partnerships that
accelerate and support our processes, and address both upstream anddownstream emissions. In 2021, we joined First Movers Coalition in its mission
to bring together global companies with supply chains across carbonintensive sectors. We committed to purchasing low-carbon steel to help
decarbonize the hard-to-abate steel industry, which currently accounts forapproximately 8% of global carbon emissions. We also joined a network of
forward-looking organizations that have partnered with SteelZero, a global
initiative working to speed up the transition to a net-zero steel industry.
As a SteelZero member, we commit to procuring 100% net-zero steel by
2050 to contribute to a shift in the global steel market towards responsible
sourcing and procurement of steel. In 2022, Trane Technologies furthered
its partnership with Nucor Corporation and U.S. Steel for the supply of lowcarbon steel, which now accounts for 20% of Trane Technologies’ annual
steel purchases. This purchase will allow us to reduce nearly 16,000 mtCO2e
annually, with a reduction of 120,000 mtCO2e by 2030 — the equivalent ofemissions generated from powering more than 15,000 homes for 1 year. Read
more about our efforts to reduce embodied carbon in Circularity: Product
Life Cycle & Materials.

Trane Technologies / 2022 ESG Report

To achieve net-zero emissions by 2050, we recognize the need to meet intermediatetargets, including our near-term 2030 science-based targets. As we plan for a
resilient future, we will use the latest scientific climate change research to continue
investing in technologies to reduce and sequester any remaining emissions fromour products, while refining our internal carbon pricing strategy for Scope 1 and 2
emissions. Read more about carbon pricing in our CDP Climate response.
We also engage our customers in decarbonization as a service, seeking newopportunities to leverage our expertise and skills to take real action and scale
sustainable change. Read more about how we engage with Neiman Marcus Groupin decarbonization as a service in Customer Focused Solutions.

2022 Scope 3 Emissions (mtCO2e)

303 million

6,313

emissions from productuse (assured)mtCO2e emissions frombusiness travel (assured)

90,444

63,141emissions from upstream
and downstream
distribution andtransportation (estimate)emissions from upstream
leased assets (estimate)

46

56%

18%

energy intensity reduction vs our 2019 baselineof our energy consumption came from renewablesources in 2022

ENVIRONMENT

EnergyGRI 3-3, 302-1, 302-3, 302-4

Our manufacturing operations are powered by energy
sources that release GHG emissions. As a part ofour contribution to global GHG reduction efforts, weseek to implement energy-efficient processes in ouroperations to reduce energy consumption and costs.
We plan to achieve a 10% reduction in absolute energy
consumption against a 2019 baseline by 2030, which
will contribute to our science-based target to reduce
absolute Scope 1 and 2 emissions by 50% below 2019
levels and achieve carbon neutral operations by 2030.
Read more about our Sustainability Commitments.

Trane Technologies / 2022 ESG Report

Our Enterprise Energy Management Policy is signed
by our Chair and CEO, Dave Regnery, and outlines
our commitments to energy efficiency improvements
across all business functions and operations. Our
business units are responsible for managing andtracking their progress towards our 2030 goals at
each of our locations, with oversight from our Vice
President of Environmental, Health and Safety (EHS).
The Vice President of EHS, supported by corporate
staff, provides data reporting protocols, validates
activity data and sustainability metrics calculations
and manages company-wide actions.

In 2022, we established Sustainability Work Teams
as an evolution of our site and business unit Green
Teams. These teams include cross-functional
representatives from Engineering, Facilities,
Maintenance, Procurement, Operational Excellence,
EHS, and Operations to define long-term solutions
to drive improvements around energy efficiency
and decarbonization. Our business units have
Sustainability Oversight Teams that evaluate andguide projects to adopt energy improvements; theywork together to leverage common opportunities andsolutions. Our locations also use our premier Trane®
Energy Services Team to assist, define, and implementsite-specific energy efficiency improvements.

47

ENERGY BREAKDOWNENERGY EFFICIENCYIn 2022, absolute energy use from our operations
totaled approximately 3,068 billion kilojoules (KJ), a
0.22% reduction from our 2019 baseline. Our energy
intensity ratio (our total direct energy consumption
divided by our total annual revenue) decreased to 0.19,
a 9% decrease vs 2021. Of the energy consumed, 56%
was from renewable sources. Our EHS management
team completes an annual internal audit to confirm
the accuracy of our energy use data. This data is also
verified by an independent third party as part of alimited data assurance audit. Read more about ourenergy consumption in the ESG Data Center section
and our 2022 Assurance Statement.

We continually take steps to reduce our overall
energy consumption to reduce costs to our business,increase business productivity, and reduce GHG
emissions. At Trane Technologies, we apply thesame approach to energy efficiency throughout ourorganization as we offer our customers. We installpassive heating and cooling techniques to reduce
the needed load from HVAC systems, automate
mechanical systems to reduce energy waste, anddesign smarter systems that support renewableenergy integration and shift electricity demand during
peak periods to reduce consumption of carbonintensive electricity from the grid. Our membership in
coalitions contributing to the clean-energy economy
also grants us technical assistance and opportunities
for collaboration to achieve our goals.
We identify optimization opportunities throughmonitoring energy consumption at our facilities. We
optimize energy use through improved operational
practices and shifting to energy-efficient and electric
equipment. In 2022, we made an 18% improvement
in total energy intensity from a 2019 baseline, andwe reduced our total Scope 1 and Scope 2 GHG
emissions 57% by using renewable energy.

In 2021, Trane Technologies established a new Better
Plants commitment to reduce energy intensity by 20%
in the next 10 years. Since 2021, we reduced energy
intensity by approximately 9%. We are also committed
to doubling our energy productivity by 2035 from a2013 baseline through the EP100 coalition. In 2022,
we achieved 47% of our EP100 commitment vs our2013 baseline. We are also committed to achieving anannual energy efficiency improvement of 3% throughMission Efficiency, formerly known as the Three
Percent Club. We are on track to achieve these goals.
At the end of 2022, we had five International Standards
Organization (ISO) 50001-certified sites, three LEEDcertified sites, and three Green Globe-certified sites.

RENEWABLE ENERGY
One key element of our energy management strategy
is our focus on sourcing renewable energy to power
our operations. We source renewable-based electricity
from our own on-site photovoltaic (PV)/solar generation
systems, through contracts with power suppliers thatprovide electricity directly from renewable systems(solar, wind, or water), and by contracting long-term
power purchase agreements.

2022 Renewable Energy Breakdown
Renewable Energy
Generated and Used

Renewable Energy
Purchased

12.20 billion kJ / 1.9%

604.38 billion kJ / 93.5%

Renewable Energy
Generated andSold to Grid
2.41 billion kJ / 0.4%

Renewable Energy Generated
27.61 billion kJ / 4.3%

Trane Technologies / 2022 ESG Report48

As part of our membership in RE100, we set a goal to source 100% renewable electricity globally by 2040. In 2022, we remained on track to achieve this goal, with 20 Trane
Technologies locations operating with 100% of their electricity provided directly or indirectly from renewable sources. These locations operating as RE100 make up over 34% ofTrane Technologies’ global electricity use. The new 2022 RE100 sites include Bari, Italy, and Marietta, Ohio. Four of our locations receive zero-carbon electricity including Bari,
Italy; Essen, Germany; Galway, Ireland; and Shannon, Ireland.

Trane Technologies Renewable Energy Sources[1]1.

Project

LocationType

2022 Production

REC Treatment

Trenton Solar Project

Trenton, NJ, USA

On-Site Solar PV

2,149 MWh

Utility owns RECs[2]Columbia Solar Project

Columbia, SC, USA

On-Site Solar PV

1,462 MWh

Utility owns RECs[2]Taicang Solar Project

Taicang, China

On-Site Solar PV

3,389 MWh

Company owns renewable energy
attributes from 100% of generation

Seymour Hill Wind
Farm VPPA

Northern TX, USA

Wind VPPA

103,263 MWh

Company owns and retires RECs

Use of Zero
Carbon Electricity

Bari, Italy; Galway & Shannon,
Ireland; Essen, Germany

Direct supply of 100% renewableelectricity by local power provider

6,926 MWh–

Vendor Provides RECsor GOsBarcelona, Spain; Hastings, NE,
USA; Prague ETC & Kolin, Czech
Republic; Tyler, TX, USA

Power company purchases and retires
RECs/GOs for a portion or 100% of Trane
Technologies electricity

54,083 MWh

Power provider retires RECs/GOs on
behalf of Trane Technologies

Zhongshan Solar
Project

Zhongshan, China

On-site Solar PV

1,134 MWh

Company owns renewable energy
attributes from 100% of generation

GO = Guarantee of Origin; MWh = megawatt hours; PV = photovoltaic; VPPA = virtual power purchase agreement

2. The Renewable Energy Credits (RECs) from this project are owned by the utilities. We purchase replacement RECs equal to the amount of solar generated by the PV system from other renewable energy facilities in the United States

Trane Technologies / 2022 ESG Report49Renewable Energy Locations

KEY
Distribution Center
Manufacturing
Technology Center

HIGHLIGHT

On-site solar projects
In 2022, we began implementing two new
on-site solar projects in Pueblo, Colorado, andMonterrey, Mexico. At our Monterrey facility,
we began constructing a rooftop PV and a
Tesla Battery Energy Storage System. This new
system will supply 70% of the electricity needed
to power our Monterrey facility annually and will
increase resiliency at our facility. At our Pueblo
facility, we began implementing a 2,000-kilowatt
peak rooftop PV system that will provide thebest financial returns at the lowest cost, while
producing 33% of the facility’s annual energy
needs. These units will begin generating
renewable electricity in 2023.

In 2022, we increased our direct purchase of zerocarbon electricity by contracting with partners who
supply renewable electricity that contributes toapproximately 10% of the energy needed at two of oursites in Taicang and Zhongshan, China. In addition
to the purchased renewable energy, these sites also
use on-site solar generation, which contributes to the
19% of renewable energy used at Taicang and the
57% of renewable energy used at Zhongshan. We also
expanded our Renewable Energy Credits (RECs) for
the Hastings, Nebraska, and Tyler, Texas, sites.

Trane Technologies / 2022 ESG Report

To shift to a clean-energy economy, large-scale
investments in renewable energy production must
be made across all industries. In 2022, we expanded
the number of on-site solar energy generation to
two new sites. We now have 4 facilities with on-site
solar generation, including two in the United States(Columbia, South Carolina, and Trenton, New Jersey),
and two in China (Taicang and Zhongshan). In 2023,
we will have two additional sites generating on-site
solar, including one in the United States (Pueblo,
Colorado) and one in Mexico (Monterrey).

We also participate in a virtual power purchaseagreement (VPPA) with the Seymour Hills windfarm
in Texas, which began generating electricity in June
2019. In November 2022, Trane Technologies signed asecond VPPA that will deliver additional RECs startingin early 2025. By generating renewable electricity,
contracting with power companies that only supply
renewable electricity, and purchasing RECs throughour VPPA, we achieved a reduction of 17% in ourmarket-based Scope 2 GHG emissions since 2019.
Read more about our emission reductions.

50

70%

of all locations have achieved zero waste to landfill[1]1.

82%

of manufacturing sites are zero waste to landfill

We define zero waste to landfill sites as a 90%+ diversion rate

ENVIRONMENT

Waste
At Trane Technologies, we align sustainability, resiliency,
and supply chain management through our waste
reduction efforts. Our waste reduction strategy focuseson identifying opportunities to minimize waste at every
stage of the process, starting by incorporating circular
economy principles in the product design process, all
the way through product end-of-life.
Our engineers consider the recyclability and efficiencyof each material used throughout the productdevelopment process to help improve our rate ofrecycling and identify opportunities for remanufacturing
at product end-of-life. They also search for opportunities
to conserve natural resources and reduce potential
by-products like mineral waste and pollution in the
manufacturing process. By identifying efficiencies andTrane Technologies / 2022 ESG Reportopportunities for each product line, we can create
cost-saving opportunities for our business that also are
better for the environment and our planet. Read more
about our product life cycle, materials, and approachto circularity.

Zero Waste to Landfill
Trane Technologies is committed to sending zerowaste to landfill by 2030. In 2022, 31 of our sites globallyachieved or maintained zero waste to landfill status,
which is an increase from 26 sites in 2021. Representing
70% of our locations, these zero waste to landfill sites
contribute to our efforts to lower our environmental
impact. Internally, we report and track waste output

from our operations monthly and contract with anindependent third party to handle responsible disposal.
We identify opportunities to improve manufacturing
process by conducting studies at our key sites. In
collaboration with our waste management partners, wefound new solutions for cardboard and wood recycling
and use waste-to-energy operations when physicalrecycling outlets are unavailable.

Our Leadership Principle:
We make better happen.

51

Trane Technologies commits to the use of recycled
paper within our own operations when appropriate andavailable. Print-On-Demand (POD) Center is an internal
resource for employees to process and manage prints.
All of the paper used is Forest Stewardship Council(FSC) Certified and includes up to 30% post-consumer
waste pulp. The POD center also recommends
re-engineering documents that are formatted with
wasted space, ultimately saving thousands of pages of
unnecessary paper use.
Although plastic use is limited within our company’s
operation, we commit to use of plastic alternatives
when available. Many of our locations have replaced
plastic cafeteria utensils with compostable alternatives.
Global and localized efforts continue through Operation
Possible as we address unsustainable use anddisposal of plastic waste.
See more waste metrics in our ESG Data
Center section.

Packaging
Supplier packaging is the primary waste material sent
to landfill within our manufacturing operations, which is
why we work with our suppliers to minimize packaging
waste. Our Supplier Packaging Guidelines allow us
to extend our sustainability strategies into our supply
chain by informing suppliers about best practices
in material packaging that minimize cost, maximize
safety and quality, and promote a preferred sequenceof reduce, reuse, and recycle. Since 2019, theReturnable Packaging Team has implemented over 40
projects for inbound parts from our external suppliers.
We have deployed returnable packaging solutions for
13 of our North American manufacturing locations. In
2022, our Returnable Packaging Team implemented
new projects that will reduce approximately 556 tonsof solid waste and 274 metric tons of carbon dioxide
equivalent annually.
Read more about how we achieve sustainability
goals with suppliers.

84%
non-hazardous
waste recycled
in 2022

Trane Technologies / 2022 ESG Report

HIGHLIGHT

Zero waste to landfill
in Lynn Haven
Our Lynn Haven, Florida, facility first achieved
zero waste to landfill in 2019 and continues
to make improvements. When appropriate,wooden pallets are reused and the remaining
pallets that need to be retired are ground up
on-site into pellets. By converting pallets topellets and baling additional solid waste onsite, the facility limits its round-trip hauling to
the recycling center, reducing transport GHG
emissions and facility costs, and sending zerowaste to landfill. The wood pellets and baled
solid waste are then converted from wasteto-energy. This process has also optimized
facility space by eliminating the storage oflarge pallets on-site prior to recycling. In 2022,
Lynn Haven recycled or reused 3,748 metrictons of non-hazardous waste. In the future,
Lynn Haven looks forward to continuing to
identify waste reduction opportunities, such asincreasing returnable packaging.

52

HIGHLIGHT

Returnable packaging
In 2022, our residential HVAC business implemented an internal returnable
packaging project. Our Vidalia, Georgia, facility manufactures cooling coils
to use in residential HVAC units assembled at the Tyler, Texas, facility. Led by
the Corporate Packaging team, engineers from both facilities identified an
opportunity to design packaging to drive sustainability improvements andenhance protections for the coils while in transit. Previously, our Vidalia facility

Trane Technologies / 2022 ESG Reportshipped 20 packs per transfer truck, with over 170 shipments required annually.
The team designed a new shipping pack that allows effective stacking in thetransfer trailer to fully use trailer space. We are now able to ship 60 packs per
trailer with less than 60 shipments required annually. This change delivered asignificant reduction in shipping costs and reduced transportation carbon by
100 metric tons annually.

53

22%

16.7%

water use reduction at facilities in water-stressedregions since 2019

reduction in total water use since 2019

ENVIRONMENT

Water
We recognize the evolving and complex water challenges developing globally andmake purposeful decisions about our water use within our manufacturing process.
Water is a critical element of our natural and social ecosystems, which is why weassess our water scarcity risk annually. The World Resources Institute Aqueduct tool
allows us to assess enterprise-wide risk, and we currently consider our risk to be low.

Local Impacts
Water scarcity poses risks to communities around the world, which is why we assess
our local impacts and take steps to reduce them. As a part of our Leading by Example
commitment, we are working to achieve net-positive water use in water-stressed
locations across our global footprint. Per the World Resources Institute definition, aTrane Technologies facility is considered to be in a water-stressed locale if it has a risk
score of 3 or greater for Physical Risks Quantity, Physical Risks Quality, Regulatory &Reputational Risks, or Overall Risk. We operate 14 facilities within water-stressed areas,
and these facilities accounted for only 9% of our total water use in 2022.

Trane Technologies / 2022 ESG Report

HIGHLIGHT

Monterrey’s rainwater harvesting
We continually work to minimize our water use and protect natural watersheds
while looking for ways to capture water and return it to bodies of water, withthe ambition to achieve a net-positive impact on water in water-stressed areas
by 2030. For example, in 2022 we installed a new rainwater harvesting reusesystem at our Monterrey, Mexico, facility to reduce the impact of our operations
on the local aquifer. Since 2021, we recovered over 500,000 gallons of rainwater.

54

We track monthly water use using the Benchmark ESG® EHS management system.
Since 2019, we decreased our water use at facilities located within water-stressedregions by 22%. As a member of the Alliance of Water Stewardship, we continue
to work with our peer companies and non-governmental organizations to develop
solutions that will restore and improve water conditions in water-stressed areas so
millions of people will maintain access to safe drinking water.
To meet environmental requirements and drive improvement efforts, we trackand monitor our effluent discharge against local and federal regulatory limitations
using the WaterWatch™ module within the Benchmark ESG® platform. We maintaininternal action thresholds for each effluent, which allows us to recognize changing
conditions and adjust pretreatment systems before a regulatory discharge limit
is exceeded. Our operating standards and procedures help us strive for zerowastewater exceedances every year.
See more water metrics in our ESG Data Center section.
We have completed the CDP Water disclosure annually since 2008. Readour 2022 disclosure.

HIGHLIGHT

Water reduction at La Crosse
In 2022 at our La Crosse, Wisconsin facility, we began a remodel process
at the lab to shift to a closed-loop process for water used for cooling. This
project will result in an annual reduction of 265 million gallons of water.

Trane Technologies / 2022 ESG Report55

Introduction

Ambitions

Environment

SocialGovernance

Products & Innovations

AppendicesSocialWe recognize that every individual’s uniquebackground and perspective brings value to ourbusiness. Which is why we strive to create an
uplifting culture and strong communities where
our team members can thrive.

Global Workforce
Company Culture
Diversity & Inclusion
Corporate Citizenship
Learning & Development
Occupational Health & Safety
Human Rights
Supplier Diversity
Trane Technologies / 2022 ESG Report5693.1%

key talent retention rate in 2022

50.5%

2022 Workforce Breakdownof new hires in 2022 identified
as racially or ethnically diverse

Hourly 7.6%
Salaried 25.0%

ASIA PACIFIC

SOCIAL

Salaried 75.0%

Global Workforce

Hourly 92.4%
Women

Men

Hourly 6.2%

GRI 2-7, 2-8, 401-1

Our people help us push the boundaries of what’s
possible by improving processes, developing new
solutions for our customers, and contributing to ourbold 2030 Sustainability Commitments.
We are embedding our leadership principles
throughout the organization to inspire and enable ourworkforce to create an inclusive, uplifting culture thatempowers all team members to think and act boldly.
Worldwide, 42,380 people bring their unique ideas
and perspectives to Trane Technologies every day. We
employ 37,669 full-time hourly and salaried staff and
4,711 contractors worldwide.

Salaried 29.3%

As a result of our focus on creating Opportunity for
All and our dedication to providing our people withindustry-leading development opportunities, our key
talent retention rate in 2022 was 93.1%. Our
company-wide voluntary retention rate was 87.8%,
and we hired 7,432 new team members this year.

EMEA
Salaried 70.7%
Hourly 93.8%
Women

Men

Hourly 25.5%

Learn more about our global workforce in the ESG
Data Center.

Salaried 30.8%

AMERICAS
Salaried 69.2%
Hourly 74.5%
Women

Trane Technologies / 2022 ESG Report

Men

57

100%

80

of our employees have access to wellbeing programs

average employee engagement survey score in 2022

SOCIAL

Company Culture
Employee Value Proposition
U.N. SUSTAINABLE DEVELOPMENT GOALS 

GRI 2-23, 2-24, 3-3

As a purpose-driven organization, we believe in taking
deliberate steps to bring our purpose to life for ourpeople and our communities. We strive to create aworking environment where people can grow andhave meaningful career experiences. We want our
workforce to be optimistic about their future, havepride in our company, and be energized about theirwork. To us, that is a winning combination that delivers
for our customers and our planet.

We believe that our Employee Value Proposition (EVP) is the experience we offer prospective and current
employees that answers the questions: “why should I come to Trane Technologies?” and “why should I stay atTrane Technologies?” Our EVP was built in 2021 to further connect our team members to our company’s purpose,
strategies, and leadership principles. In 2022, we focused on making sure the EVP represents our entire employee
population, inclusive of every role in the organization. The three pillars of our EVP are:

UPLIFTING OTHERS

MAKING AN IMPACTTHRIVING AT WORK& AT HOME

We lift each other up and careabout the success and well-beingof others.

We succeed together by striving
daily to create a lasting, positive
impact on our planet.

We thrive, supported by meaningful
benefits, compensation, andopportunities for rewarding careers.

Employees at Trane Technologies share a greater purpose: to boldly challenge what’s possible for a sustainable world.
We are optimistic people who believe in the power of inclusion and collaboration as we turn ambition into action.

Trane Technologies / 2022 ESG Report58World-Class Engagement
Annually, we ask our employees how we’re delivering
against our purpose, ambitions, and strategies as partof our engagement survey. While only one of the many
ways we reach out for feedback, our engagement
survey is a powerful way for us to regularly assess how
our people feel about the workplace we’re creating,and 88% of team members participated in the survey
this year. The survey includes topics such as ethics,
manager support, inclusion, career development, andwork-life balance. The survey results inform our people
practices including competitive benefits and learning
priorities to help us meet the needs of our workforce.
At Trane Technologies, our engagement index
measures pride, energy, and optimism. In 2022, we
increased our scores in over 70% of our questions
and remained stable in the rest. We also saw a yearover-year improvement in our overall score, achieving
an average employee engagement score of 80. In
our Diversity & Inclusion Index, we scored 77, and wescored 80 in our Sustainability Index, reflecting a highlevel of commitment to our purpose and leadershipprinciples. According to benchmarks from our thirdparty survey provider, we maintained strong employee
engagement with year-over-year improvement in our
employee engagement score.
In 2022, we dedicated additional resources to inform
how we can best support and invest in the employee
experience of our production hourly employees. We
held listening sessions with hourly manufacturing
team members and service technicians at the
majority of our North American plants to gather
insights and receive feedback. As a result of theseconversations, we took local actions to enhance theirexperience and help them thrive at work and home.

2022 Employee Engagement Survey Results
Topic

Survey Question

Average
Score

Employee
Engagement Index

Pride - “I am proud to work for the company.”

80

Energy - “I am energized by my work.”
Optimism - “I am excited about this company’s future.”

Diversity &Inclusion Index

Belonging — “I feel a sense of belonging at this company.”

77

Equal Opportunity — “Regardless of background, everyone atTrane Technologies has an equal opportunity to succeed.”
Respectful Treatment — “I am treated with respect and dignity.”
Sensitive Topics — “At this company, I feel comfortable discussing
difficult and sensitive topics.”

Sustainability Index

Company Purpose — “Our company is recognized as a global
leader in sustainability.”

80

Company Purpose — “I believe in our company’s purpose toboldly challenge what’s possible for a sustainable world.”
Corporate Citizenship — “Trane Technologies does a good job
supporting the communities in which it does business.”

Trane Technologies / 2022 ESG Report59Employee Well-Being
GRI 401-2, 401-3

Wellness is a critical element of the EVP at Trane
Technologies. We integrate wellness into our culture
through a holistic portfolio of benefits that support
physical, social, emotional, and financial well-being sothat team members can thrive at work, at home, andin their communities. We offer wellness activities withfinancial incentives for team members in the UnitedStates who enroll in our medical plan. In 2022, we
took several steps to further support employee wellbeing, including: Reviewing our global paid time off practice andmade local market adjustments. As part of thiswork, we recognized Dr. Martin Luther King, Jr. Day
as an additional holiday beginning in 2023.
 Giving our service technicians 2 additional sickdays. As a result of our listening sessions, werecognized the value in providing 2 additional sickdays to our service technician population, aligning
practices across North America.
 Improving our Global Wellness Platform. Our
Global Wellness Platform provides access to online
wellness programs covering an array of topics likemindfulness, resiliency, and nutrition. The platform
is available to all team members around the world,
who can also invite family members to join.
 Elevating the Employee Assistance Program.
100% of our team members have access to theTrane Technologies Employee Assistance Program,which allows them to receive eight free, confidential
counseling sessions per year, to work through awide variety of challenges.

Trane Technologies / 2022 ESG Report Providing relief through the Helping Hand program.
In 2022, 903 team members received financial
assistance from our Helping Hand Fund, totalingover $1 million. The Helping Hand Fund was created
to provide emergency relief grants to associates
facing financial hardship immediately after a qualified
disaster or an unforeseen personal hardship.
 Creating a safe place to talk about mental health.
To foster an inclusive environment and break down
barriers or misperceptions about mental health, we
introduced a series of conversations to allow people
the chance to share their stories. These stories
were translated and shared with our team members
around the world and became the highest trending
internal employee story feature in 2022. We also
launched a Mental Health Hub so people can quickly
access information, resources, and support forthemselves, their team members, or their families.
 The COVID-19 pandemic continued to put significant
pressure on teams in China and other Asia Pacificcountries in 2022. We acted to support our people
and their families, including providing:» Relief during extended COVID-19 lockdowns
in China. Support packages were delivered to
employees’ homes during the lockdown period.
Virtual Employee Assistance Program coachingsessions helped to support our team members
working from home and were supplemented
with online tools that focused on physical andmental well-being.
» Resources and benefits offerings to support
vaccination efforts. Shuttle transportation tovaccination sites was provided for employees. In
Taicang, China, employee volunteers provided
on-site COVID-19 testing. Medical insurance
programs were adjusted to ensure appropriate
COVID-19 coverage as necessary, including
extended COVID-19 medical coverage in Malaysia.

HIGHLIGHT

Hurricane Fiona
In September 2022, Hurricane Fiona hit
Puerto Rico, causing widespread flooding
and damage and leaving nearly 1 million
people without power. As part of our Helping
Hand Fund, we launched our first Immediate
Response Program to provide faster accessto relief funding for over 700 employees
impacted by the hurricane. The Helping
Hand Fund distributed over $700,000 to
employees to assist with storm recovery. We
also amended the defined contribution planin Puerto Rico to allow participants to taketax-advantaged distributions for qualifying
recovery-related expenses.

» Support for mental health. In conjunction withthe global mental health awareness campaign,
Asia Pacific mental health campaigns provided
virtual sessions focused on regional and local
concerns, issues, and supporting resources.

We regularly assess our employees’ compensation
across different genders as well as racial and ethnic
groups. We have rigorous pay practices to ensure wecompensate our employees fairly, equitably andcompetitively across many compensation variables. Ourcompensation practices are based on external norms,
extensive data, internal equity, scope and accountabilityof jobs, and performance. In the United States, we pay
our employees hourly starting wages that are on
average 200% above state minimum wages.
60

PARENTAL LEAVE
Our Total Rewards Program is designed and updated
regularly to meet our team members’ evolving
needs. Our people are offered market-competitive
benefits in every country in which we operate, as well
as differentiated programs that exceed regulated
requirements in some localities. For example, in
addition to the paid maternity leave provided throughour short-term disability plan in the United States, weoffer paid leave for four additional weeks to eligible
birth mothers. The program also offers birth fathers,
adoptive parents, secondary care givers, foster
parents and parents of a surrogate child two weeks
of paid leave. We also provide our hourly and salaried
team members with adoption assistance, which helps
families reduce the costs associated with the legal
adoption process.

U.S. Parental Leave Return
to Work Rate[1]
Men

98%

Women

97%

1.	Completed benefits in 2021 and were still employed 30 days after completing
benefits.

In 2022, 18,751 Trane Technologies team members
were eligible for parental leave. Eligible team members
include salaried/non-union hourly employees. For
union team members, parental leave is a bargained
benefit. Of 18,751 eligible U.S. Trane Technologies teammembers, 360 took parental leave in 2022.
We continue to prioritize support for working
parents, with a focus on the lingering challenges ofthe pandemic. Back-up care and working parent
resources have been a long-standing component of
our offerings for our team members. With increasingneed due to the pandemic, we have expanded andenhanced these offerings.

FUTURE OF WORK
We are embracing the ways in which our peoplechoose to work and are equipping them with the tools
and resources they need to succeed while staying
competitive in the talent marketplace. Our future ofwork plan allows team members to work flexibly whenpossible and establishes expectations for remote
work within a geography, virtual, on-site, and hybrid
employees. We’re doing our part to help our
workforce integrate the daily demands of work andlife. Our engagement survey results showed that ourpeople are equally engaged regardless of work
arrangement, and we continue to embed thehallmarks of our culture as we adapt to the evolving
working world.

HIGHLIGHT

Connecting our new
employees to our culture
at Trane Technologies
For new hires around the world, we launcheda New Employee Welcome Kit to: Generate enthusiasm with new employees
entering the organization.
 Rally employees around Trane
Technologies’ purpose.
 Reinforce our EVP by including items
that demonstrate our commitment tosustainability and well-being.
 Connect our team members to the mostimportant messages we want them to hearas they start their journey with us.
These kits, made with recyclability andrenewable materials in mind, were launchedin all regions across the globe; 3,870 kits
were mailed to salaried employees in 2022.
In January 2023, a process is launchingfor production hourly employees in North
America to order and distribute these locally.

Trane Technologies / 2022 ESG Report6137.4%

26.2%

of leadership positions are held by womenof our U.S. workforce identifies as raciallyor ethnically diverse

SOCIAL

Diversity & Inclusion
U.N. SUSTAINABLE DEVELOPMENT GOALS 

GRI 3-3, 405-1

Part of our team members’ ability to thrive at work andat home is being able to bring their authentic selves
to work every day. We are committed to creating anenvironment where we uplift one another. This comesto life in how we are taking action to cultivate a diverse
and inclusive workplace. Since 2010, we’ve grown ourofferings to include a variety of Employee Resource
Groups (ERGs) and Inclusion Networks worldwide tocreate more opportunities for everyone to feel a senseof community and belonging.

Trane Technologies / 2022 ESG Report

We prioritize workforce diversity to reflect thecommunities we are a part of and to work towards
gender parity. We know that having the best, mostdiverse teams is how we will achieve our ambition.

Diversity & Inclusion
Governance
The Board of Directors oversees our Diversity &Inclusion strategy and engages with our Human
Resources and Compensation Committee regularly
to review diversity, inclusion, and other human capitalmatters. Our internal Diversity Council is a crossfunctional group of global leaders representing eachpart of our business who are responsible for providing
their input to ensure that our Diversity & Inclusion

goals integrate with our core business practices. In
addition to the formal governance structures in place,
we encourage all individuals within Trane Technologies
to take ownership of their contributions to create an
inclusive culture and make an impact.
Our annual incentive plans for senior leaders are
based on several sustainability metrics, including anannual target for increasing women in management
roles globally and increasing racial and ethnic diversity
in the U.S. salaried workforce. These goals support
our company’s 2030 Sustainability Commitments toachieve gender parity in leadership and a workforce
diversity reflective of our communities. Our Human
Resources and Compensation Committee oversees
remuneration linked to Diversity & Inclusion goals.

62Our Approach to Diversity & Inclusion
We nurture an inclusive culture where representation matters and people feel empowered. We cultivate inclusivity
by promoting and enabling employee-led networks that bring people together, spark conversation, and create
community and understanding. We strive to provide development opportunities that deepen compassion andunderstanding, and we work to remove systemic barriers to success with our policies and procedures.
Our plan for enhancing Diversity & Inclusion is organized into the following strategies:

Inclusive Culture

Accountable Leaders

Nurture an inclusive culture where people
bring their best selves to work everyday

Hold leaders accountable for achieving
Diversity & Inclusion goals

Diverse Workforce

Marketplace LeadershipSocial Impact

Achieve diverse
workforce representation

Lead and influence our suppliers,
customers, and channel partners to
be diverse and inclusive

Build sustainable futures throughcommunity partnerships and contributions
that create Opportunity for All

Trane Technologies / 2022 ESG Report63

MEASURING PROGRESS
We are committed to cultivating a workforce thatreflects the communities where we live and work. To
lead industry-wide change and create a more diverse
workforce by 2030, we aim to achieve gender parity
in senior leadership positions, increase women in
management positions, and increase the amount of
racially and ethnically diverse people in our salaried
U.S. workforce by 50%.
We set a glidepath with annual goals to ensure
we meet our 2030 Sustainability Commitments. In
2022, women occupied 5 out of 13 seats on our
Board of Directors, and representation of women in
management roles increased from 23.1% in 2021 to24.2% in 2022. Representation of women in seniorleadership roles at Trane Technologies increased
from 24.6% in 2021 to 26.2% in 2022. In total, womencomprise 25.7% of our global workforce.
By 2030, Trane Technologies is committed toincreasing the racial and ethnic diversity of its U.S.
salaried workforce to 36%, a 50% increase over 2019.
We know that creating an environment where ourpeople feel a sense of belonging will inspire people
to thrive at work and in their communities. In 2022, we
increased racially or ethnically diverse salaried teammembers from 18.4% to 19.6%. See more metrics in the
ESG Data Center section.

Gender Parity

1.1

1.6

Percentage point
increase in women in
management

Percentage point
increase in women insenior leadership2022 Racially & Ethnically Diverse
Employees (U.S.)

37.4%

Employees who identify as racially or ethnically diverse

Our Leadership Principle: We include and uplift one another.

Trane Technologies / 2022 ESG Report64Building a Diverse
Workforce
In 2022, we launched a voluntary self-identification
campaign within our annual required training
to encourage our team members to disclosedimensions of diversity beyond federal requirements.
The anonymous campaign reinforced our desire tolearn more about our team members and will help us
better understand our workforce demographics andpromote inclusivity.

OUR APPROACH TO RECRUITING
Hiring diverse talent enriches our company culture,encourages innovative ideas, and accelerates thepace of change in our business, industry, and world.
To increase diverse representation in our global
workforce, we take steps to attract, interview, hire, andretain candidates from diverse backgrounds. These
efforts begin with our recruiting process, where wework to cultivate a strong and diverse candidate
pipeline. We partner with universities, key industry, andprofessional organizations to recruit early and midlevel talent, such as:

Our approach to attracting, hiring, and advancing
diverse talent includes:

 Society of Women Engineers (SWE) Expanding our network of recruiting partners;

 National Society for Black Engineers (NSBE)

 Identifying high-performing yet often-overlooked talent; Society for Hispanic Professional Engineers (SHPE)

ReLaunch program Developing both future and current team members
through targeted learning programs and career
experiences; and HBCU Connect

We recognize that many talented
professionals step away from the workplace
at different points in their lives for a variety ofreasons, and we believe in supporting themwhen they decide to return. ReLaunch isour 12-week paid “returnship” opportunity forexperienced professionals who have taken
voluntary breaks from their careers and areready to put their passion and expertiseback to work. ReLaunch participants receive
professional development, mentoring,training, and networking opportunities
across our company. After ReLaunch
participants gain meaningful exposure tochallenging projects, they are considered forfull-time opportunities. Of the 16 ReLaunch
participants in the 2022 cohort, 73% ofparticipants were converted to full-time
employees. ReLaunch started as anengineering recruitment program but was
expanded in 2022 to include Information
Technology (IT) and Integrated Supply Chain.

 Creating meaningful connections through peer andformal coaching, sponsorship, and advocacy.

Trane Technologies / 2022 ESG Report The Mom Project Corporate America Supports You (CASY)
Through ongoing engagement with our teammembers and people leaders, we have begun shifting
to a skills-based approach. This approach focuses
hiring decisions more on a candidate’s ability than
only experience or level of education. This important
shift expands our applicant base to a broader groupof potential Trane Technologies employees who canhelp us achieve our ambition.

HIGHLIGHT

65

Trane Technologies executives deepen our community
ties through their volunteer efforts. Our executives
volunteer their time and expertise to propel the workof various non-profit organizations, including Charlotte
Mecklenburg Foundation, Digi-Bridge, National Societyof Black Engineers (NSBE), Junior Achievement, Project
Scientist, Science Museum of Minnesota, and Urban
League of Central Carolinas.

Inclusive Culture
HIGHLIGHT

Investing in racial equity
In Charlotte, North Carolina, we supported
an ambitious initiative that was created in theaftermath of George Floyd’s murder. This Racial
Equity Initiative, launched by the mayor ofCharlotte, invited the region’s leading employers
to develop a multi-year plan to achievesocio-economic parity across the city’s major
systems for its Black residents. We invested$1 million to support this initiative, and we areproud to contribute to its positive impact.

SOCIAL IMPACT
We are committed to contributing to the well-beingof our communities and the health of our planet.
Through our Sustainable Futures citizenship strategy,
we forge connections between our company andthe communities where we live and work. Our leadersparticipate in meaningful regional initiatives, andmany serve on non-profit boards to lend insights
and resources to advance economic developmentin key markets and ensure that we stay connected tocommunity issues and needs.

Trane Technologies / 2022 ESG Report

EMPLOYEE RESOURCE GROUPS
We activate our inclusive culture through ERGs
and Inclusion Networks that serve as a catalyst forour people to learn about other cultures, embracedifferences, and appreciate the strength and value of ourdiverse workforce. Our Inclusion Networks are alignedwith our ERGs and allow team members to connect
locally to celebrate and honor important days andevents across all ERGs. In 2022, more than 13,000 people
globally participated in ERG events — a 20% increase
compared to last year.
In 2022, our PRIDE: LGBTQ+ Employee Network and our
Women’s Employee Network (WEN) expanded globally.
The first PRIDE event in Europe, the Middle East, andAfrica gave our team members and allies a chance toshare their stories and experiences to celebrate,
support, and uplift each other. WEN also created the
Women & Ally Development Series and expanded
allyship efforts through MEN for WEN. Our ERGs include: Women’s Employee
Network InterGenerational
Employee Network

 Black Employee Network  Asian ERG
 PRIDE: LGBTQ+
Employee Network
 Global Organization of
Latinos Veteran’s ERG
 VisAbility ERG

HIGHLIGHT

Black Employee Network
financial literacy
The Trane Technologies Black Employee
Network (BEN) celebrated its 10-year
anniversary in 2022. Throughout its 10 years,
BEN has worked to support our people,
engage in the community, and shape ourbusiness. BEN won a Trane Technologies
President’s Award for hosting a new financial
education series developed for members.
In addition to being a resource for its
members, BEN educates leaders on how
to offer support and address importantand sometimes uncomfortable topics that
may affect Black employees, and partners
with local community organizations that
demonstrate impact.

66

HAVING COURAGEOUS
CONVERSATIONS
We acknowledge and encourage the need for open
conversations about culture, diversity, and inclusion.
These conversations challenge our team members
and our leadership to listen first and then take action.
When people feel heard and respected, a sense of
belonging and inclusion follows.
Since signing the CEO Action for Diversity & Inclusion
pledge in 2017, we have hosted an annual CEO Day ofUnderstanding, which helps us strengthen the powerof inclusion at Trane Technologies. In 2022, our CEO
Day of Understanding had over 3,000 attendees who
were able to share their stories, create awareness,
inspire authentic connections, and celebrate ourprogress towards our Diversity & Inclusion goals.
Our Bridging Connections series creates safe spaces
for people to share, listen, and learn from one another.
This series gives our people the respectful andsupportive platform needed to discuss challenging
topics and create collective optimism for a better
future. In 2022, our conversation focused on womenin science, technology, engineering, and mathematics(STEM). To build off the momentum generated by thisseries, we encourage team members to hold smaller,
more intimate discussions in their locations. Our
Diversity & Inclusion team provides resources to help
facilitate and lead these enriching conversations.
In 2022, we hosted our 2nd Annual Global Diversity& Inclusion Summit, a learning event for our teammembers with a focus on inclusive leadership andallyship. This year’s theme, Better Together, defined therole each team member must play to lead the change
we aspire to have across our organization.

Trane Technologies / 2022 ESG Report

Diversity & Inclusion
Development Programs
We invest in the engagement and development of ourteam members to sustain our business results andour purpose-driven culture. Our Diversity & Inclusion
learning experiences equip our people with the skills
and resources to succeed in their current roles andprepare for future ones.
HIGHLIGHT

INCLUSIVE CULTURE
LEARNING EXPERIENCEThe Inclusive Culture Learning Experience is acomprehensive learning path delivered via ourLearning Management System that enables
heightened inclusivity through self-reflection andreal-life inclusive leadership practices. Two key
components of The Inclusive Culture Learning
Experience are The Work of the Inclusive Leader
online learning program and The Inclusive Leader’s
Playbook™.
Trane Technologies University partnered with Simmons
University Institute for Inclusive Leadership to build The
Work of the Inclusive Leader online training to groundlearners in the key practices of inclusive leadership:
Understand Bias, Value Equity, Partner for Success,
Advocate for Belonging, Sponsor and Make Change.
The Work of the Inclusive Leader online programand The Inclusive Leader’s Playbook™ are available
in languages spoken by 90%+ of our employee
population. Through 2022, 3,572 managers andindividual contributors have completed the program.
This program is also available as optional training for
all individual contributors in the organization and isavailable in 8 languages.

ElevateThe Elevate Series: The Intersection ofAuthenticity, Care, and Belonging was anopportunity for leaders who self-identify as
Asian, Black/African American, Hispanic/
Latinx, indigenous of the United States,or multi-race to come together to build
meaningful connections, gain exposure
to senior leaders, and explore concepts
to inform career navigation. In 2022, we
extended the experience to team members
deeper in the organization and brought
together more than 120 Black, Hispanic andLatinx, Asian, Native American, and multiracial leaders to foster community, increasea collective sense of belonging, and ensure
continued career development.
The Elevate Series was designed to giveour people tools and resources that they
can bring back to their teams, ERGs,
and Inclusion Networks as we strive
to accomplish our 2030 Sustainability
Commitments and enable Opportunity for All.

67

WOMEN’S LEADERSHIP PROGRAMS
Targeted leadership programs give our women teammembers the resources and skills they need to thrive.
Our Women’s Leadership Program (WLP) is a 6-month
immersive learning program to prepare womenleaders for senior positions. Participation continues toincrease, indicating the ongoing value of our offerings.
Through 2022, 22 leaders have completed the WLP,
totaling nearly 250 leaders completing the WLP since
its inception.
Our Women on the Rise program was designed for
those who aspire to more senior roles in our company.
Throughout 8 weeks, participants learn about selfawareness, personal branding, and strategic thinking
through virtual courses. Approximately 180 women
have graduated from the Women on the Rise program
through 2022.
Our Women in Action (WIA) program was createdas part of our 2030 Sustainability Commitments
to advance women’s career development at aneven faster rate. WIA provides women in leadership
access to content that promotes the developmentof leadership skills and addresses the uniquechallenges faced by women in business. Through2022, approximately 1,400 women have participated in
the WIA program.

Women’s Leadership Program~250

graduates as of 2022

Women on the Rise~180

graduates as of 2022

Read more about our Women’s Development
Programs and Inclusive Leadership Training in the
Diversity & Inclusion section of this report.

Women in Action~1,400
graduates as of 2022

Trane Technologies / 2022 ESG Report68Our Partners
We aspire to achieve racial equity and social justice around the world. In 2022, we continued to support and growseveral industry initiatives that help us engage with stakeholders who can guide our Diversity & Inclusion policies,
practices, and commitments.

CEO ACTION FOR
DIVERSITY & INCLUSION
In 2017, we were among the first companies to join
CEO Action for Diversity and Inclusion, and today morethan 2,400 CEOs have pledged to act on supporting amore inclusive workplace for employees, communities,
and society at large.

NATIONAL ASSOCIATION
OF MANUFACTURERS
PLEDGE FOR ACTION
Our former Chair and CEO, Mike Lamach, introduced
the National Association of Manufacturers’ (NAM)
Pledge for Action. The pledge is an 11-pointcommitment for manufacturers to advance justice,equality, and opportunity for all people of color.
Companies pledge to enhance advocacy for peopleof color, provide access to education and training
opportunities, and increase diversity across thebusiness value chain. Our commitments to Diversity& Inclusion initiatives, recruitment practices, andworkforce development strategies align with the NAM
Pledge for Action, which we continue to support.

Trane Technologies / 2022 ESG Report

PARADIGM FOR PARITY
In 2017, we became the first in our industry to join the
Paradigm for Parity Coalition, a pledge to bring gender
parity to our corporate leadership structure by 2030.
We underscored this commitment with our 2030
Sustainability Commitments.

ONETENIn December 2020, we became a founding memberof OneTen, a coalition of leading companies
committed to training, hiring, and advancing 1 million
Black Americans over the next 10 years. Our focus
is on removing systemic barriers and providing
opportunity for Black Americans to achieve successfor generations to come.

HUMAN RIGHTS CAMPAIGNIn March 2022, we signed the Human Rights
Campaign and Freedom for All Americans BusinessStatement on Anti-LGBTQ+ Legislation. As a signatoryof this statement, we are stating our clear opposition
to harmful legislation aimed at restricting the rights oflesbian, gay, bisexual, transgender, queer (or sometimes
questioning), and others (LGBTQ+) in society.

69

62,274

volunteer hours completed by employees in 2022

$15.8M+in philanthropic giving in 2022

SOCIAL

Corporate CitizenshipWe believe in our power to make our communities
stronger, and we know that we can only thrive as abusiness when our communities also flourish. Aspart of our 2030 Sustainability Commitments, we’reinvesting $100 million and 500,000 employee volunteer
hours to ensure diverse students have the resources
and inspiration to create a more sustainable future. In
2022, we focused on building signature programmingthat will enable us to execute our corporate citizenshipstrategy and achieve our goals.
Our Sustainable Futures strategy consists of threepillars focused on uplifting and engaging students
from underrepresented communities throughout theireducational journeys:

Trane Technologies / 2022 ESG Report

ENHANCE LEARNINGENVIRONMENTS

ACCELERATESTUDENT SUCCESSOPEN CAREER
PATHWAYS

 Indoor Environmental Quality
solutions and expertise forhealthy homes and classrooms
to optimize learning Introduction of STEM andsustainability concepts tounder-represented populations

 Improved perception andfamiliarity with manufacturing,
engineering, and technicalcareers

 Access to healthy food andmedicines for students and theirfamilies for improved wellness

 Enhanced childhood literacy tobuild skills and love of learning More entryways for diverse
workers to access green
and STEM professions

70

Through collaborative non-profit partnerships that arebuilding pathways for students to access educationand careers in STEM and sustainability, we increased
our philanthropic giving by 39% from 2021 to a total ofover $15 million in 2022. Our growing global network of
dedicated partnerships support our mission to bolster
access to STEM and sustainability curriculum among
underrepresented students, and to achieve a richpipeline of diverse talent.

PURPLE TEAMSIn 2022, we created Purple Teams to inspire andenable our people to advance our corporate
citizenship strategy around the world. With
representatives from each business unit, our Purple
Teams are champions and activators for corporate
citizenship work. They will bring our strategy to life on a
local level in communities around the world.

Engaging Employees

In 2022, our online platform that tracks giving andvolunteerism was extended to our people worldwide.
Through this platform, team members can sharevolunteer opportunities, track volunteer hours, andincrease support through donations. In 2022, 13,571
team members across the globe completed 62,274
volunteer hours in their local communities.
The Trane Technologies Charitable Foundation
scholarship program exists to assist children of teammembers who plan to continue their education incollege or vocational school programs. Scholarships
are offered each year for full-time study at an
accredited institution of the student’s choice. In 2022,
our scholarship program supported 70 students withover $160,800 distributed globally.

Trane Technologies / 2022 ESG Report

13,571volunteer participants

62,274

See more metrics in our ESG Data Center section.

Our people are passionate about giving back to
our communities through volunteerism. Our Global
Volunteer Time program demonstrates our dedication
to volunteerism by providing a full paid workday forsalaried team members to participate in volunteer
activities, and in 2022 we extended this program to ourhourly team members. We encourage all volunteering
events to follow our Sustainable Futures strategy.

2022 Employee Engagement Data

total hours volunteered

35%

percentage of team members

HIGHLIGHT

Purple Teams partner with
Reading Is Fundamental$1,680,782
value of volunteering

In 2022, our Purple Teams mobilized to give
volunteers opportunities to get involvedin back-to-school events. In partnershipwith Reading is Fundamental, our teammembers in locations across the UnitedStates came together to collect andpackage backpacks with STEM-focused
books, bookmarks, worksheets, andhandwritten notes to be delivered to lowincome schools. More than 200 Trane
Technologies team members invested a
total of 386 hours to help impact over 11,000
students in 35 participating schools.

71Our Partners
To advance our Sustainable Futures strategy, werely on a growing network of talented non-profit
partners around the world whose local expertise andrelationships help us maximize our impact. Vital to
our partner selection process is their ability to create
unique and meaningful connections to strengthen
outcomes for underrepresented students andcommunities. In 2022, we continued strengthening
our existing community partnerships while adding
new partnerships that will contribute to advancing all
three pillars of our Sustainable Futures strategy. The
following are just a few.

PROJECT SCIENTISTIn 2021, we provided Project Scientist with a 3-year,$1 million grant to advance the non-profit’s STEM
curriculums. In 2022, we deepened our relationshipby delivering enriching summer camp opportunities
for girls on our campuses in the United Statesand Mexico. Employee volunteers welcomed girls
and supplemented camp experiences. Our teammembers in Latin America were hosts to Project
Scientist’s first programming beyond the Continental
United States with a week-long STEM camp for girls
that was met with incredible community and family
support. We look forward to continuing to nurture thisrelationship to broaden access to STEM curriculums
across the globe.

DISCOVERY EDUCATION
In 2022, Trane Technologies launched a signature partnership with Discovery Education to create a comprehensive
suite of educational tools for two important groups: educators and our employee volunteers. Through this unique3-year partnership, we are providing educators and volunteers fresh and relatable teaching tools that connect
important real-world sustainability goals to everyday challenges students care about. Designed to reach students
in at-risk districts, this robust multimedia STEM education program is engaging and inspiring students to learn,
think, and solve sustainability challenges through innovation, and it’s exposing them to dynamic STEM careers
along the way.
The program features a Sustainable Futures website with one-of-a-kind sustainability lessons and ready-to-use
teaching aids for volunteers to use when leading in-class lessons that cover topics ranging from preventing foodloss, to understanding decarbonization. The site also offers a Virtual Field Trip to bring students into our businessenvironments for a behind the scenes look at what climate innovation is, the people driving progress, and why itmatters for a more sustainable future. The site’s STEM careers section offers a collection of professional profiles toshowcase the faces, personalities, and stories behind a variety of roles at Trane Technologies. To date, our content
has reached more than 136,800 students, introducing a new generation to the critical issues affecting our planet’s
long-term health, and inviting them to participate in creating tomorrow’s solutions.

Trane Technologies / 2022 ESG Report

72

FEEDING AMERICA

NC3

Our Thermo King® business and Feeding America, anationwide network of food banks, collaborate on a
program called We Move Food, which provides support
to hunger relief organizations globally. We provide direct
grants, special pricing on transport refrigeration products
and maintenance, and volunteer hours from our teammembers to support local food pantries. This year, we
expanded the program model to include education fromour experts on the impact of food transport to help foodsystems run more effectively and efficiently.

We are a founding sponsor of NC3, a U.S. network of
dedicated trade industry professionals that provide
teachers and students in over 1,000 U.S. schools
with competitive Career and Technical Education
certifications at no cost. Trane Technologies’
sponsorship includes grant funding and certifications
in Data Analytics, residential Heating, Ventilation, and Air
Conditioning (HVAC), and Building Automation Systems.

YUANSHAN EDUCATION CHARITY FOUNDATION
In 2022, we launched the STEM Enlightenment Class program in partnership with Yuanshan Education Charity
Foundation, a pioneering program in China. Focusing on STEM education in rural areas, this program introduced
STEM courses to five rural schools in Guizhou Province to benefit nearly 900 students in grades three throughsix. In addition to the standard curriculum covering STEM subjects, the program incorporates climate control,
environmental protection, and financial business courses customized by Trane Technologies employee volunteers— all aimed at fostering student interest in STEM and sustainability subjects, and careers.

SCIENCE MUSEUM OF MINNESOTA’SKITTY ANDERSEN YOUTH SCIENCECENTER STEM FREEDOM SCHOOL
In 2022, we partnered with the Science Museum ofMinnesota’s Kitty Andersen Youth Science Center(KAYSC) STEM Freedom School. The KAYSC helps
underserved middle school students acrossthe Twin Cities excel by teaching them practicaltechnology skills, getting them involved and invested
in community contribution and service, and preparing
them for education and future careers.

Trane Technologies / 2022 ESG Report

EUROPEAN SCHOOLNET’S
STEM ALLIANCE
To help combat the growing STEM skills shortagein Europe, we joined the European Schoolnet’s
international STEM Alliance initiative to encourage andinspire young people to pursue STEM education andcareers. Through this engagement, we produced awebinar for educators where our experts discussed
the importance of decarbonization of our cities,
and highlighted the courses, skills, and career
opportunities that will allow them to continue learning
about these topics and make an impact.

Governance
Our Sustainable Futures strategy and our Trane
Technologies Foundation are governed by our
Global Corporate Citizenship Council. This Council iscomprised of leaders from across the organization
who are selected for their commitment to service,knowledge of our business, and ability to engage
our teams.
The Global Council ensures strategy alignment withcompany purpose and principles, oversees planned
initiatives, reviews grant requests in North America,
helps mitigate exposure to risk, and inspires employee
engagement in our community outreach programs.
Three Regional Corporate Citizenship Councils,
comprised of senior local business and functional
leaders, work in conjunction with the Global Council toenable consistent global execution of our corporate
citizenship strategy, providing local direction of the
programs and activities in Asia Pacific; Europe, theMiddle East, and Africa; and Latin America.

73

10

average hours of formal learning anddevelopment per employee in 2022

83

graduates from the Team Leader Development
Program for frontline manufacturing associates in 2022

SOCIAL

Learning & Development
U.N. SUSTAINABLE DEVELOPMENT GOALS 

We provide our people with comprehensive learning and development solutions
designed to support them as they grow in their careers. Team members at every
level can access our innovative learning and development programs. These
dynamic solutions focus on career advancement and demonstrate our efforts toenhance the future of Trane Technologies team members.
Through Trane Technologies University and the Trane® and Thermo King® TechnicalTraining Teams, we offer industry-leading programs to all team members. We’recommitted to helping our team members gain better economic opportunities byenhancing their professional skills. In 2022, our people received an average of
10 hours of formal training.

Trane Technologies / 2022 ESG Report

Our Performance & Development Connections are focused on regular andmeaningful discussions throughout the year on goal setting, performance,development, and career. Our Performance & Development Connections help our
people feel connected to our purpose, strategies, leadership principles, and 2030
Sustainability Commitments. To deepen our purpose-led culture, we ask each Trane
Technologies employee to create a goal that describes how they will contribute todelivering on one of our three sustainability pillars (Gigaton Challenge, Leading by
Example, and Opportunity for All) aligned to our 2030 Commitments. One hundred
percent of salaried employees and 58% of our total global employee population
receive regular performance and career development reviews.

74

We believe that most career learning and development happens on the job. An
organic learning approach allows our team members to develop their skills in theflow of work and receive real-time support from their manager and peers. Throughour commitment to training, we deliver enterprise-aligned learning and developmentwith clear business impacts by: Developing agile solutions that meet evolving business priorities;
 Enhancing team-based learning and development; Continuing team member development for their current role and the next;
 Nurturing a feedback-rich environment;
 Mentoring leaders who build capable teams; andLEA Supporting a coaching culture.

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0%
(9
Performance
SupportManager
Coaching

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MicroLearning

e-Learning

Stories

After-Action
Reviews

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10%
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GA
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SocialCollaboration

VirtualLearning

What do I need toperform better in
my current role?

What do I need toperform mycurrent task?

What do I need tolearn to prepare
for my next role?

Classroom
Learning

Learner Reflection

In 2022, we shifted our tuition support approach from offering tuition reimbursement
to offering tuition advancement — also expanding the program to include technicaltrade certifications. This purposeful shift will continue to support the ongoing growthand development of our people while also mitigating financial barriers to education.

Trane Technologies / 2022 ESG Report75

Learning & Development Resources

INNOVATIVE LEADERSHIP PROGRAMSTRANE TECHNOLOGIES UNIVERSITY

Two Trane Technologies University innovative leadership programs that coach our
employees at pivotal career points and help them transition into leadership positions
are described below.

Our team members have access to on-demand training so they can learn at theirown pace. On our unique platforms, team members access a variety of programs toadvance their skillsets so they can develop as leaders across our global operations
and help us create Opportunity for All.
All Team members can access Trane Technologies University learning content
through three internal channels:
1. The MyLearning Platform promotes leadership and development content toteam members. We use MyLearning to deliver the Inclusive Culture Learning
Program, which prioritizes inclusivity through self-reflection and real-life scenarios.
Additionally, the MyLearning Platform hosts several self-paced learning paths,
such as Gender Equality in Leadership, that educates team members on how tonavigate gender-related differences in the workplace. Read more in our Diversity& Inclusion section.

INDEPENDENT &SYNCHRONOUS
LEARNINGEXECUTIVESPONSORSHIPPEERCOLLABORATIONNEUROLEADERSHIP

Leading for Impact Program
We created this 16-week program for Mid-Career High-Potential Leaders to
help them develop a growth mindset, communicate more effectively, build
their influencing skills, and take steps to own and accelerate their careers.

2. The Trane Technologies University “Grow You” channel delivers on-demand andjust-in-time micro-learning content tied to our enterprise initiatives including
resiliency, change, and curiosity skills, as well as Lean and Agile leadership topics
and more.
3. Our online Global Learning Library hosts thousands of training programs,
audiobooks, and videos. Users can earn and share badges by completing
specialized topic modules and obtain externally recognized certificates, like thoseoffered by the Project Management Institute.

EXECUTIVE
COACHING360
FEEDBACKDEVELOPING
DIVERSE TEAMSACTIONLEARNING

STRATEGY
INTEGRATION

Executive Leadership ProgramThis 6-month program for Executive High-Potential Leaders develops
and accelerates a mindset that boldly challenges what’s possible for asustainable world. Learners build skills in three critical leadership dimensions:
Strategy, Executive Leadership, and Execution.

Trane Technologies / 2022 ESG Report76

TEAM LEADERSHIP DEVELOPMENT PROGRAM

LEADERSHIP EDUCATION ADVANCEMENT PROGRAM

The Team Leader Development Program (TLDP) is an 8-week, cohort-based programavailable to hourly team members at our manufacturing sites. During these eightweeks, participants spend 25% of their time in a classroom setting, and 75% of theirtime on-the-job learning and applying management and communication skills.
Program participants receive tailored one-on-one coaching, development, andfeedback from mentors to help them build their leadership capabilities.

Trane Technologies’ Residential HVAC Leadership Education Advancement Program
introduces our brands, products, programs, leadership principles, and sales tools tointernal Account Managers and external Territory Managers. Since the launch of the
Residential HVAC Leadership Education Advancement Program in 2017, 286 people
have completed the program. In 2022, we kicked off the first of two hybrid cohorts
with virtual and in-person training and advanced 63 graduates.

The TLDP program helps potential managers build teamwork skills and focuseson collaboration. Since the program’s inception in 2014, 26 certified facilitators havetaught over 1,700 Trane Technologies participants in 36 locations globally.

GRADUATE TRAINING PROGRAM

Each TLDP graduate moves into a leadership role by supporting a team ofapproximately eight team members on production lines.

To prepare promising talent for a rewarding career in technical sales, we designed
the 5-month Graduate Training Program (GTP) to provide intensive technical,
business, sales and leadership training. As one of the longest running and mostcomprehensive technical and leadership programs in the commercial HVAC
industry, the GTP attracts talent from universities worldwide. Graduates are placed in
an immersive, on-the-job training role and mentoring period before taking on their
new career path at Trane Technologies. In 2022, 84 Trane Technologies AccountManagers and engineers worldwide completed the GTP.

SERVICE TECHNICIANSHIGHLIGHT

Trane Academy in Europe, the Middle East, Africa, Australia, and New Zealand has
online learning pathways designed to deepen our team members’ knowledge
about HVAC systems and technologies, develop both technical and commercial
skills, and build competencies to help them meet current and future requirementsof their work. Trane Academy programs provide in-depth knowledge of ourtools and processes with practical exercises and real-life case-studies, to allow
learners to quickly apply new knowledge and skills in their day-to-day job. To date,
351 employees have completed a learning path and more than 16,676 modules
with satisfaction rates of 98%. Through the online learning opportunity, we haveempowered our team members to take charge of their own development.

Group Leader Development Program
In 2022, we piloted the Trane Technologies Group Leader Development
Program, a 10-week program that engages, teaches, and empowers front-line
salaried leaders at our manufacturing sites to make sound business decisions.
Through a blend of tactical lean knowledge, leadership development, andproactive daily management excellence, our leaders learned how to develop
confidence and apply knowledge to advance their teams.

Trane Technologies / 2022 ESG Report77DEALERSHIP TECHNICAL TRAINING
Thermo King dealerships in the Americas and Europe, the Middle East, and Africa
are struggling to maintain an adequate technical workforce with fully trained,
experienced technicians and are having to grow and develop newcomers into theindustry. In the United States, the Express Service Bootcamp takes participants withminimal technical background and trains them to execute a majority of service
tasks performed in dealerships. Our hybrid learning approach helps learners build,develop, and retain the knowledge and skills in an expedited manner by minimizing
travel time away from the dealership and maximizing hands-on performance-based
training time at the Thermo King Education Center in Minneapolis, Minnesota. In
France, we partnered with a key customer to create a new work-study program
offering comprehensive education, training, and certification. Certified participants
will be offered an opportunity at a dealership or partner agency.

DEPENDENT SCHOLARSHIPS
To support learning in our employees’ families, we offer scholarships to our teammembers’ dependent children. We offer $2,500 scholarships for students pursuing
education beyond high school for traditional degrees, technical programs, ortrade certifications.

ENGAGING YOUR EMPLOYEES
Through Engaging Your Employees (EYE), we train and support leaders to help
create a supportive working environment. Approximately 4,300 managers havecompleted EYE since the program’s launch in 2013. In 2022, Trane Technologies
delivered 15 global EYE workshops to approximately 248 managers.

Trane Technologies / 2022 ESG Report

78

6.9%

0.14

lost-time incident rate per 200,000 hours worked in 2022

reduction in total recordable incident rate froma 2019 baseline

SOCIAL

Occupational Health & Safety
We promote safety in the workplace by providing ourpeople with the tools, resources, and training they needto get their job done safely and effectively. Througha proactive occupational health and safety (OHS)
approach, we identify areas for improvement to mitigate
safety incidents before they happen. We prioritize asafety-focused culture that strives to achieve zero
injuries and zero incidents across the enterprise.
Safety is prioritized from the top, with our Chair andCEO, Dave Regnery, overseeing our OHS strategy. We
promote open discussions between management
and team members regarding work-related hazards
and safety issues through our Behavior Based
Safety program. We raise awareness of safety risks,
share best practices and expectations, and promote
preventive measures through CEO town hall meetingsand monthly meetings at both the facility and service
organization levels.

Trane Technologies / 2022 ESG Report

Occupational Health& Safety Strategy
Our OHS strategy relies on robust data collectionthat allows us to track safety metrics acrossthe organization. Safety metrics keep us aware,accountable, and focused on our progress towards
OHS goals and allow us to evaluate and identify
opportunities to make policy improvements. We value
both quantitative metrics and qualitative feedback
from team members to inform our approach totraining procedures and OHS education.
Safety metrics and incidents data are tracked bylocation, business unit, and total company. The
Benchmark ESG® platform allows us to track safety
trends and performance. Our 2030 goal is to achieve

and maintain world-class safety performance, defined
as a lost-time incident rate (LTIR)[1] of 0.06 and a total
recordable incident rate (TRIR)[2] of 0.60. In 2022, weachieved an LTIR of 0.14, a 0.04 increase over a 2019baseline, and a TRIR of 0.8, a 6.9% reduction over a
2019 baseline. Read more about our OHS metrics inthe ESG Data Center.
1.

Injuries resulting in lost labor time x 200,000 / total hours worked by employees

2. Recordable injuries x 200,000 / total hours worked by employees

Our Leadership Principle:
We do what’s right, always.

79

Incident Prevention& Response
We provide team members with the tools andknowledge they need to perform their jobs safely.
When an incident occurs on the job, we seek
immediate medical care for the team member andtake temporary containment actions if needed. We
conduct full investigations into the incident with root
cause analysis and take corrective actions whereappropriate. Our Chair and CEO, Dave Regnery,
who is alerted to every lost time incident, ensures
accountability on incident response.
Our OHS auditing program follows Occupational
Safety and Health Administration requirements andincludes our internal Environmental, Health, and Safety(EHS) management guidelines, which often go beyond
regulations. During the audits, we look for safety
violations and workplace hazards that could endanger
personnel. When our audit team identifies an OHS
risk, we require the facility to take corrective action toenhance safety.
Throughout the COVID-19 pandemic, our Global COVID
Pandemic Response Team proactively responded to
evolving priorities to help keep our team members
safe and healthy. In 2022, we gave our global locations
the ability to evaluate the latest country, state, or local
health guidance to make the best decisions for theirteams and their working conditions.
Our OHS management system generates leading
and lagging safety key performance indicators. We
continuously monitor these key performance indicatorsand take actions to reduce OHS risks. One way we
acted on OHS risk in 2022 was through our hand safety
campaign. Seeing increased hand safety incidents,
our EHS Leadership quickly rolled out a hand safety
campaign that raised awareness around hand safety
risks and identified measures to reduce the potential of
related injuries. These actions reversed the trend.

Trane Technologies / 2022 ESG Report

Each year, we roll out a 100 Days of Safety Campaign
to drive safety awareness and OHS risks reduction.
This Campaign is completed in all global regions
and takes place during the summer periods in eachhemisphere and focuses on warm-weather related
safety precautions like sun protection and hydration.
Our global EHS teams share materials for training,
focus areas, common risks, and unique learnings.
Beginning in 2022, we added a Winter Safety
Campaign. This campaign will address the uniquerisks and hazards faced by many regions during thewinter, and will focus on frozen precipitation, service
work at customer locations, and winter driving.

HIGHLIGHT

100 Days of Safety
In 2022, we enhanced our 100 Days of
Safety communications to expand reachand increase engagement. Our intranet andmobile platform, ClimateZone, served as aplatform to showcase service technicians’
safety wins, deliver podcasts and proceduresfor targeted safe work practices, andshare individual strategies and successstories related to safe working practices.
By using the intranet platform, we monitor
the number of team members who accessthe weekly safety postings and deliver thesafety message to a broad group of teammembers including leaders, supervisors,
technicians, and other support staff.

80

100%

100%

of our global suppliers signed on to the Business
Partner Code of Conductof global salaried employees received
anti-harassment training in 2022

SOCIAL

Human Rights
GRI 2-23, 2-24

Our leadership principles help us go beyond compliance with local human rights laws
and regulations at our remote and physical worksites. Across our global operations,
we are committed to doing the right thing by operating with integrity and protecting
the fundamental rights of people associated with our business. Our detailed Global
Human Rights Policy prohibits child labor, forced labor, discrimination, and harassmentin the workplace. Our policy also addresses freedom of association, work environment
standards, compensation, and employee privacy. Protecting human rights is an
integral part of how we live our purpose and leadership principles every day.

Our policy aligns with the standards set forth by the International Labor
Organization’s (ILO) Declaration on Fundamental Principles and Rights at Work andthe United Nations Universal Declaration of Human Rights. The policy includes ourModern Slavery and Human Trafficking Statement, guided by ILO conventions 29
and 105, and outlines our steps to ensure compliance. We further address childlabor with the guidance of ILO convention 138.
Our Global Human Rights Policy covers the following topics: Our Approach to Human Rights
 Code of Conduct

Global Human Rights Policy
An internal team of Legal and Human Resources executives — including theVice President of Talent and Organization Capability, Vice President of Labor and
Employment, Vice President of Global Compliance, and Head of Diversity & Inclusion— own the Global Human Rights Policy. Our Chair and CEO, Dave Regnery, signed
our Global Human Rights Policy, demonstrating the importance of protecting humanrights in the Trane Technologies value chain.
Trane Technologies / 2022 ESG Report Freedom of Association, Work
Environment and Compensation

 Child labor/Forced labor Doing Business Globally andExpectations for Our Business Partners
and Suppliers

 Anti-Harassment

 Privacy Human Rights Commitment

 Non-Discrimination and Equal
Opportunity (U.S.)

81

Business Partner Code of Conduct
We engage with suppliers and partners worldwide and are committed to respecting
human rights throughout our global supply chain. Our Business Partner Code of
Conduct (BPCoC) applies to all entities we work with to deliver our products andservices, and it communicates our high operational expectations regarding legal,
moral, and ethical standards when conducting our affairs. To ensure accessibility,
our BPCoC is available in nine languages.
We define our relationship with suppliers by contracts based on legal and ethicalpractices. Our supplier contracts contain standard agreements that require
suppliers to comply with our BPCoC and uphold fundamental human rights.
Each year, we assess suppliers for environmental impacts to find and mitigate any
significant actual or potential negative environmental impacts. In 2022, we assessed
299 suppliers for environmental impacts and did not identify any suppliers withactual or potential negative environmental impacts.
To ensure compliance with international trade laws and regulations, we engage with
our suppliers and business partners in risk-based due diligence. This process allows
us to gather Code of Conduct and BPCoC adherence information, through which
we can assess our human rights policies and identify areas for improvement.

Training

 Legal Requirements

 Environment

Salaried team members at Trane Technologies complete Code of Conduct training
annually and must attest that they will uphold our Code, which includes our Global
Human Rights Policy. In 2022, we began a 2-year cycle of Code of Conduct training
for our hourly workforce. Salaried team members in Legal, Human Resources, andGlobal Integrated Supply Chain attend a training course on anti-human trafficking
based on their job function and associated risks.

 Discrimination

 Health and Safety

NON-DISCRIMINATION & ANTI-HARASSMENT

 Wages and Benefits

 Anti-Corruption and Bribery

 Child Labor

 No Retaliation

 Freedom of Association

 Confidentiality

Trane Technologies is an Equal Employment Opportunity employer in the UnitedStates. We provide opportunities regardless of race, sex, color, national origin, creed,
religion, pregnancy, age, disability, military/veteran status, sexual orientation, gender
identity, genetic information, marital status, or any legally protected status.

 Limitations on Gifts and Gratuities

 Global Trade Compliance Forced Labor — Physical Coercion

 Management System

The BPCoC covers the following topics:

 Antitrust and Competition Laws
 Human Rights

Trane Technologies / 2022 ESG Report

We adhere to this policy regarding employment, promotion, demotion, transfer,
recruitment or recruitment advertising, layoff or termination, rates of pay, or otherforms of compensation and benefits. We also enforce it in selections for training,
including apprenticeships and additional terms or conditions of employment.
We follow a strict anti-harassment policy, and we expect the same from our business
partners. To help foster an inclusive workplace, we train 100% of our global salaried
team members annually on anti-harassment. We are currently developing training forour hourly workforce, which will launch in 2023.

82

$600M+

spent on purchased goods and services fromdiverse-owned businesses in 2022

113

new diverse suppliers added in 2022

SOCIAL

Supplier Diversity
U.N. SUSTAINABLE DEVELOPMENT GOALS 

We recognize the value of diversity in our supply chain and actively work to growour business in partnership with diverse suppliers. Our mission is to expand our
global business and increase shareholder value by developing diverse-owned
business enterprises as part of our strategy. We are committed to working withminority-owned, women-owned, veteran-owned, and LGBTQ-owned businesses, andbusinesses owned by people with disabilities. Our innovative procurement process
identifies and pre-qualifies diverse-owned businesses to ensure a robust pipelineof suppliers. Through this process, we added 113 new diverse-owned suppliers,
representing $13.2 million in spending in 2022.

relationships and drives economic growth and development in the communities that
we serve. We accomplish this by providing access as well as fair, transparent, andequitable opportunities for both direct and indirect suppliers.
Trane Technologies launched supplier diversity trainings for internal and externalaudiences in 2022. We continue to provide resources through our procurement
processes to help our Tier I suppliers understand our supplier diversity commitment,
and through this program we ask our Tier I suppliers to report their diversity spend.
We are dedicated to developing and mentoring our suppliers to help thembuild stronger partnerships and enhance their capabilities. Individuals from our
procurement function sit on the Board of Directors of several different organizations
that provide scholarships and programming for diverse-owned businesses.

We believe in partnering with qualified, experienced, and values-driven suppliers of
all backgrounds. We recognize a diverse supplier pool allows us to take advantage
of innovative perspectives, unique talents, and cutting-edge ideas. Growing a robust
supply chain that reflects our leadership principles, strengthens our customer

Trane Technologies / 2022 ESG Report83In 2022, Trane Technologies was recognized for its supplier diversity program as
one of “The Forefront 50” by the National Minority Supplier Development Council,
as a “Best-of-the Best Corporation for Inclusion” by the National LGBT Chamber ofCommerce, and as “Corporation of the Year” by the TriState (Tennessee, Kentucky,
West Virginia) Minority Supplier Development Council.

compete in a global environment. We also sponsor the U.S. Pan Asian American
Chamber of Commerce’s new Supplier Diversity Champions program and support
the USPAACC Southeast Chapter What’s Your Pitch? Innovation Competition.
Read more about our dedication to Diversity & Inclusion across our business in the
Diversity & Inclusion section.

We support organizations and programs that are committed to driving supplier
diversity through sponsorship and support from our teams. We sponsor the TriState
Minority Supplier Development Council Centers of Excellence, which works tostrengthen corporate supplier diversity processes and to help minority businesses

Trane Technologies / 2022 ESG Report84Introduction

Ambitions

Environment

SocialGovernance

Products & Innovations

Appendices

GovernanceThrough a robust governance structure,
we monitor our environmental, social, andgovernance performance and hold ourselves
accountable to our 2030 Sustainability
Commitments.

ESG Management
Business Integrity
Environmental, Health, & Safety Management
Embedding Sustainability: FinancePublic Policy
Memberships & Partnerships
Charters
Trane Technologies / 2022 ESG Report85GOVERNANCE

ESG Management
GRI 2-9, 2-10, 2-11, 2-12, 2-13, 2-14, 2-17, 2-18

At Trane Technologies, we see an opportunity to leadour industry in ESG best practices. Our purpose is
to boldly challenge what’s possible for a sustainable
world. Our ESG practices are aligned with this purpose,including our 2030 Sustainability Commitments andour enterprise policies and standards.
Our Board of Directors focuses on the most significant
risks facing our company to ensure the appropriate
mitigation strategies are implemented by management.
ESG-related topics and sustainability are a primary
focus for our entire Board of Directors. Responsibility
for these ESG matters is divided among several
Board committees that track ESG opportunities, risks,trends, and performance, and report findings back to
the full Board of Directors. Learn more about our risk
management in the Business Integrity section.
Our Board of Directors’ oversight and strategic
direction helps Trane Technologies create a resilient,sustainable business.

Trane Technologies / 2022 ESG Report

Board Oversight
Our Board of Directors comprises several committees,
including the Audit Committee; the Human Resources
and Compensation Committee; the Sustainability,
Corporate Governance, and Nominating Committee;
the Finance Committee; the Technology andInnovation Committee; and the Executive Committee.
The Board of Directors’ Sustainability, Corporate
Governance, and Nominating Committee oversees
our sustainability efforts, including the development
and implementation of policies relating to ESG
issues. Members monitor our performance againstsustainability and ESG objectives, including the risksof climate change.
Ultimately, the Sustainability, Corporate Governance,and Nominating Committee makes ESG policy
recommendations to the full Board of Directors basedon our findings. The ESG recommendations influence
our approach to climate change risk assessments

and our sustainability goals. The Sustainability,
Corporate Governance, and Nominating Committee
assists the Board of Directors in evaluating theperformance of the Board committees and eachcommittee conducts an annual self-evaluation.
The Audit Committee oversees the integrity of our
financial statements, including accounting policies,
and financial reporting. It reviews disclosure practices
including human capital management and other ESG
disclosures included in our periodic reports.
The Technology and Innovation Committee assists
the Board of Directors in its oversight of our solutions
aimed at addressing climate change, GHG emissions,energy-efficient and low-emission products, andproduct life cycle and materials. It supports theSustainability, Corporate Governance, and Nominating
Committee in its review of environmental andsustainability practices as needed.

86The Human Resources and Compensation Committee
reviews key human capital management initiatives
related to leadership talent recruitment and retention,
diversity and inclusion, pay equity, and hourly wages.
The committee sets, reviews, and approves annual ESG
factors for our Annual Incentive Matrix (AIM).

ANNUAL INCENTIVE MATRIXOur AIM remuneration structure provides our top
executives and approximately 2,300 leaders with clarity
as to how they can earn an annual cash incentive
based on strong performance relative to several
metrics, including a Financial Score, an ESG Modifier,and individual performance scores.
The ESG Modifier is a Performance Factor that includes
four equally weighted environmental, sustainability, andDiversity & Inclusion objectives: internal GHG reduction,
external carbon emissions reduction, an increasein gender representation in management, and anincrease in racial/ethnic diversity in salaried positionsin the United States. These performance factors are
considered in conjunction with the Human Resources
and Compensation Committee’s holistic review of our
key accomplishments and actions taken during the year
to advance our ESG performance and progress towards
our 2030 Sustainability Commitments. Our Board of
Directors reviews company performance against its ESG
goals, sustainability strategies, and progress, among
other performance factors. Our Annual Report includes
more information about our AIM.

emerging technology, among other topics. The
Council helps us evaluate these issues to understandtheir impact on Trane Technologies’ operations. In
addition to the Advisory Council on Sustainability,
we participate in global initiatives to discuss climatechange risks and solutions that shape our actions.
See a full list of our Charters for more detail.

DAILY ESG MANAGEMENT
Our Center for Energy Efficiency and Sustainability(CEES) connects our internal ESG activities
and external stakeholders. CEES works to instillsustainability into our corporate culture by integrating
sustainability practices into our everyday operations.
CEES also facilitates our work with governments,
non-governmental organizations, universities, andindustry-leading groups. The team tracks anddiscloses progress against commitments while
carefully monitoring emerging requirements and ESG
expectations. In addition to the CEES, our regional
business’ sustainability councils develop businessspecific sustainability strategies that support our2030 Sustainability Commitments. We encourage
the expansion of these councils, as their creation
allows each business to find its own path to oursustainability goals. Learn more about CEES and
our Advisory Council on Sustainability, including
members, on our website.

BOARD OF DIRECTORS

Audit Committee

Human Resources
and Compensation
Committee

Sustainability,
Corporate Governance,and Nominating
Committee

Finance Committee

Executive Committee

Technology andInnovation Committee

ENTERPRISE LEADERSHIP TEAMADVISORY COUNCIL ON
SUSTAINABILITY
Our management and leadership teams consult
an independent council for ESG topic guidance.
The Advisory Council on Sustainability advises
our company on the impacts of climate change,
infrastructure development, energy policy, circular
design, product impacts, social progress, andTrane Technologies / 2022 ESG Report

Advisory Council on
Sustainability (External)

Internal Sustainability
Strategy Council

Regions, Strategic Business Units(SBU) & Enterprise Functions

Center for Energy
Efficiency andSustainability (CEES)Enterprise Risk Intelligence
Committee (ERIC)87

Cybersecurity
Trane Technologies continues to prioritize cybersecurity.
We drive continuous improvement in our cybersecurity
processes by monitoring threats and taking preventive
actions to keep our business and our customers safe.
Our measures and controls help to protect intellectual
property, advance continual operations at our
manufacturing sites, and safeguard customer data.
Additionally, we engage third parties to test andmanage our systems. Third parties help Trane
Technologies assess cybersecurity maturity andimprove performance in an ever-evolving landscape of
threats. Based on the results of our National Institute ofStandards and Technology’s Cybersecurity Frameworkassessment, we took a series of actions to improve ourcybersecurity maturity score, including: Modernizing customer and employee multi-factor
authentication systems;
 Implementing data-loss prevention tools to safeguard
confidential information;
 Strengthening monitoring tools and response
procedures to identify and quickly address
threats; and Applying a risk-based approach to improve
effectiveness of cybersecurity governance andcompliance systems.
We require all salaried workers to complete annual
cybersecurity training, which highlights specific threats
and scenarios. Our cybersecurity strategy is directedby the Chief Information Security Officer and isoverseen by the Board of Directors’ Audit Committee.
Senior management briefs the Audit Committee
regularly on the cybersecurity threat and risklandscape. A team of cybersecurity incident
responders led by our Chief Information Security
Officer monitors company operations in real time.
We publish information on cybersecurity risks andmanagement in our Annual Report.

Trane Technologies / 2022 ESG Report

88

100%

of salaried employees completed Code of Conduct
training in 2022

100%

of salaried employees completed anti-corruption
training in 2022

GOVERNANCE

Business Integrity
GRI 2-16, 2-23, 2-24, 2-25, 2-26, 3-3

We hold ourselves to the highest standards ofconduct and expect every employee to act ethically.
Violations can damage our reputation and lead toeconomic impacts on our business prospects.
As part of our rigorous efforts to promote a responsible
business culture across the enterprise, we developed
a strong Code of Conduct, Business Partner Code of
Conduct, and Leadership Principles. Additionally, our
Global Human Rights Policy and our Environmental,
Health & Safety Policy reflect our dedication toprotecting 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 2022 Annual Report.

Trane Technologies / 2022 ESG Report

Our Leadership Principle: We own
our actions and decisions.

Risk Management
Our Board of Directors focuses on our generalrisk management strategy and ensures theappropriate mitigation strategies are implemented bymanagement.
Trane Technologies’ Chief Financial Officer is theChief Risk Officer. The Chief Risk Officer periodicallyreports to the Board of Directors or its Committees onrisk management policies and practices across ourcompany. These reports help the Board of Directors
make appropriate decisions and shape strategies.
The Enterprise Risk Intelligence program and Enterprise
Risk Intelligence Committee identifies and manages
strategic risks and provides reasonable assurance
regarding the achievement of mitigation objectives. In
2022, the Enterprise Risk Management Committee held
quarterly meetings to review risk mitigation plans andaction status for the top 22 enterprise risks identified in
the 2021 enterprise risk assessment process. Deepdive sessions on key risk areas are a critical part of thecommittee’s quarterly meetings.

89

ESG RISK MANAGEMENT
The Board of Directors’ Sustainability, Corporate
Governance, and Nominating Committee oversees
corporate governance and sustainability risks
on ESG issues. The Committee also monitors
performance against ESG objectives, including theimpacts of climate change. The Committee makes
recommendations to the full Board of Directors
regarding ESG risk mitigation. Read more aboutclimate change risk in Climate Change.
The Audit Committee; Human Resources andCompensation Committee; Sustainability, Corporate
Governance, and Nominating Committee; Technology
and Innovation Committee; and Finance Committee
oversee risks related to cybersecurity, company
policies, talent attraction and retention, ESG objectives,and financial performance.

Mitigation Strategies
At Trane Technologies, we are dedicated to operatingwith integrity, upholding the law, and operating in a
way that reflects our company’s leadership principles.
Through the publication of comprehensive policies, weseek to mitigate risks of corruption, bribery, harassment,
and human rights violations throughout our enterpriseand value chain. We expect our team members andvalue chain partners to follow these guidelines, and weoffer compliance training to our workforce.

CODE OF CONDUCT
Trane Technologies’ Code of Conduct embodies thestandards we expect our team members to uphold.
Our comprehensive Code of Conduct covers labor
relations, human rights, diversity, equal employment

opportunities, affirmative action, and harassment. It
defines our company’s leadership principles anddetermines how we engage with stakeholders acrossour value chain. The essence of our Code is simple:
 We act lawfully and ethically We speak up and report unethical conduct
 We do what’s right, always
Our Code of Conduct applies to every team member
regardless of their role or location, as well as ourBoard of Directors when acting in connection with
their Trane Technologies-related duties. We also
expect our business partners to operate with thehighest legal, moral, and ethical standards as outlined
in our Business Partner Code of Conduct.

Alignment of Business Integrity

Ambition

ActionImpact Operating with integrity andupholding Trane Technologies’
leadership principles

 Code of Conduct training​​

 100% of salaried employees received
Code of Conduct training Business Partner Code of
Conduct training​​
 Anti-harassment andanti-slavery training​​ Business partner environmental
compliance assessments

Trane Technologies / 2022 ESG Report Hourly employee compliance trainings
launching in 2023​
 Zero suppliers identified as having
actual or potential negativeenvironmental impacts

90

We conduct due diligence reviews for business
partners and service providers based on risk ratings.
Trane Technologies engages a third-party vendor toresearch issues by scanning thousands of publicrecord databases. Trane Technologies can identify
which potential business partners meet our high ethicalstandards by using this compliance process.
Salaried team members at Trane Technologies
complete Code of Conduct training annually and must
attest that they will uphold our Code of Conduct. In
2022, 100% of salaried employees completed Code of
Conduct training. Salaried team members also receive
anti-corruption, conflicts of interest, fraud and financial
crimes, Information Technology (IT) security awareness,and sexual workplace harassment prevention training.
We are currently developing workplace harassment
and Code of Conduct training for our hourly employees,
which we plan to launch in 2023. For information about
our salaried workforce, visit our ESG Data Center.

ANTI-CORRUPTIONREPORTING
We provide several channels for team members
to report ethical concerns or violations. They may
contact the Ethics Helpline, which is managed by anindependent third party, 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.
Our global Ethics HelpLine is a mechanism throughwhich employees and external stakeholders, including
our business partners, may report any known orsuspected violation of the Code of Conduct, laws,
or regulations. Employees may telephone or accessthe Ethics HelpLine through a secure website
and country-specific, toll-free telephone numbers
at any time. They can remain anonymous unless
restricted by local privacy laws. Our Code of Conduct
communicates the availability of the Ethics HelpLine
and provides instructions for use.

Our Ethics Helpline is available to 100% of ouremployees globally. Additionally, any user of our
Ethics Helpline can provide feedback to the Ethics& Compliance Group using the Ethics Helpline. We
regularly test the telephone numbers to ensure they
are working correctly.
Additionally, concerns or suspected violations of
our Code, laws, or regulations may be submitted to
ethics@tranetechnologies.com, which is monitored
throughout the day by our Ethics & ComplianceGroup. Concerns may also be submitted directly to amember of our Ethics & Compliance Group.
The Ethics & Compliance Group reviews all reports it
receives and takes remedial actions when appropriate
to ensure compliance and safeguard our company’s
reputation for ethics. We prohibit retaliation against
another employee or third party for reporting a policy
or Code violation in good faith or for cooperating witha company review. Remediation actions are formallyassigned for completion and tracked by our Ethics &Compliance Group until closed.

GRI 205-2

Our Code of Conduct and Anti-Bribery and Corruption
Policy hold our team members to ethical and legal
compliance standards. The Policy prohibits teammembers from giving or offering anything of value
in exchange for business advantage. This includes
a complete ban on facilitation payments to secureroutine government functions.
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, andoperationalize compliance practices.
In 2022, 100% of our salaried employees received anticorruption training, and we are currently developing
training plans for our hourly team members.

Trane Technologies / 2022 ESG Report91GOVERNANCE

Environmental, Health & Safety Management
GRI 2-23, 2-24

We employ more than 37,000 team members globallyand strive to protect their safety by integrating robust
Environmental, Health, and Safety (EHS) practices into
our everyday actions. We are committed to cultivatinga zero-injury and zero-incident culture across ouroperational footprint.
As part of our safety culture, we publish anenterprise-wide EHS Policy. Our policy standards
comply with the global, national, state, and local EHS
statutes at our operational sites, often exceeding
regulatory requirements. Our EHS standards arealigned with the latest guidance from regulatory
bodies, including the U.S. Occupational Safety
and Health Administration and the International
Organization for Standardization (ISO).

Trane Technologies / 2022 ESG Report

EHS Policy
Our EHS Policy represents a commitment to ourteam members, customers, partners, shareholders,and communities that we strive for safety excellencein the workplace, and that we remain committed toprotecting the environment.
As part of our EHS Policy, we established enterprisewide engineering, maintenance, and EHS standards
that are robust, scientifically sound, and protective of
the environment, our staff, and our communities. Ourpolicy drives management plans to proactively identify
and minimize EHS risks associated with our business
operations. We set annual targets to measure,manage, and communicate our EHS performance.
The targets and actions follow our Business Operating

System Standard Work, which includes programs
to proactively reduce our environmental footprint by
preventing pollution, reducing waste, limiting energy
consumption, and conserving water. We work to
reduce our use of nonrenewable natural resources,
increase the reuse and recycling of materials, anddecrease our GHG emissions.
Our Business Operating System further incorporates
requirements of the EHS Policy for health and safety
risk reductions and response including EHS incident,
crisis, hazard management, and response plans. In
the event of an EHS incident, we take appropriate
corrective actions to prevent recurrence at the
specific location and across the enterprise.

92

MANAGEMENT
Our Chair and CEO and the Senior Vice Presidentof Supply Chain and Operational Services serve as
the executive sponsors of our company’s EHS Policy.
Our business EHS Leaders and our Enterprise EHS
Team meet regularly to review our EHS management
standards, set annual performance targets, and review
performance metrics. Key performance indicators
include leading and lagging metrics, like injury
rates and GHG emissions reductions. Each quarter,
sponsors of our EHS Policy meet at a townhall eventto review performance and discuss our EHS strategy.
Our EHS Council continuously monitors emerging
trends and regulatory changes by engaging with
EHS regulators in our operational locations. The
Council regularly updates our policies to reflect
new developments. Additionally, we analyze internal
performance data and conduct internal and thirdparty audits of our facilities. We submit our EHS
data and management procedures annually to anindependent third party for assurance, and our EHS
management system incorporates key elements of
ISO 14001 and ISO 45001 standards.

Environment & Climate Change

Pollution prevention,
environmental
management, andintegrated permitting

Air quality

Water supply
management, including
a water quality
management system

Wastewater discharge
management

Waste management

Safety Procedure

TRAINING
We require our contract, hourly, and salaried teammembers to participate in annual EHS training. Our
EHS training programs integrate environmental
stewardship practices, such as energy reduction
strategies and the reuse and recycling of materials,
along with jobsite safety procedures. New employees
and contractors receive initial EHS training specificto their work location or project assignments. Team
members learn how to integrate EHS practices into
their everyday activities through our training programs,
which support our zero-injury and incident culture.

General safety andhealth management

Personal protective
equipment

Hazardous substancemanagement anddangerous substances

Physical andmechanical hazards

Audits & Due Diligence
Our facilities conduct annual EHS self-assessments
according to a standard, company-wide protocol. We
use the findings from these assessments to identify
opportunities to strengthen our EHS performance andadjust our management practices accordingly.
In 2022, third-party consultants audited the EHS
practices at 35 sites, including factories, distribution
centers, parts stores, and field service work locations.
Audit intervals depend on the site’s complexity andsize. The frequency of audits also depends on thestaffing and the nature of manufacturing operations
on-site, as well as the regulatory EHS requirementsfrom local, state, or federal authorities.
During acquisitions, we employ a comprehensive EHS
integration model and complete formal due diligencethat includes EHS inspections. Our EHS integration
model includes orientation training, compliance-based
auditing, risk assessments, implementation of our EHS
management system, and data reporting procedures.
We did not receive any significant fines in 2022 forenvironmental non-compliance and prescribed tothe underlying elements of Precautionary Approach
Principle 15 of the 1992 United Nations Conference
on Environment and Development (Rio Declaration).
We work to reduce or eliminate the use of hazardous
substances employed in our business operations
where possible, like our cross-functional effort toredesign our manufacturing processes and productofferings to shift to low-global warming potentialrefrigerants. We continue to evolve our business
operations to align with the Precautionary Principle.

Fire protection

Trane Technologies / 2022 ESG Report93GOVERNANCE

Embedding Sustainability: FinanceTo facilitate the transition to a low-carbon economy
and contribute to sustainable development, we
identify opportunities to drive positive change
by incorporating ESG considerations across ourorganization. Our finance team helps to define theambition for Trane Technologies’ ESG management,
disclosure, and governance and plays a critical role inembedding sustainability across the organization.

implement greater controls surrounding our ESG
data using a Sarbanes-Oxley compliance framework.
To formalize the process, we implemented over 20
controls in our Risk & Control Matrix and continued
prioritizing data completeness and accuracy. In
the future, we will continue moving towards a more
centralized and integrated data approach for all our
ESG metrics.

PREPARING TO COMPLY WITH GLOBALREPORTING REQUIREMENTS
The European Union’s Taxonomy Regulation is acommon classification system identifying sustainablebusiness activities. Trane Technologies is preparing
to report on the revenue, CAPEX, and OPEX of ourtaxonomy-eligible activities in accordance with
European Union Taxonomy Regulation.

External Reporting
We connect team members from across ourorganization — including representatives from finance,
legal, IT, and Human Resources — to approach our
ESG disclosures in an integrated way. In 2022, ourfinance team conducted walk-throughs with a third
party to understand risks, identify opportunities, andTrane Technologies / 2022 ESG Report

Our Leadership Principle: We work today for a sustainable tomorrow.

94

Linking Business Strategy to ESG
Finance works to integrate sustainability within each of our business units, forexample, by promoting the quantification of financial impact of energy savings
within the product development process. Finance helps drive initiatives like Energy
Savings Performance Contracting, which helps our customers upgrade to more
efficient heating and cooling systems, paid for in future energy savings.
Managing the Annual Incentive Matrix (AIM) remuneration structure is another way
that finance helps to hold our team accountable for meeting our goals. In 2021, we
tied ESG metrics to executive compensation to accelerate our 2030 Sustainability
Commitments through the AIM. The Gigaton Challenge, Leading by Example(Carbon Neutral Operations), and Opportunity for All (Gender globally, Racial andEthnic Diversity in the U.S.) are all included in consideration for the annual incentive
plan. Read more about our AIM in ESG Management.
In 2022, we introduced a second sustainability-linked credit facility following thefirst that was introduced in 2021. These sustainability-linked credit facilities matureon 5-year terms, in 2026 and 2027. These credit facilities link the amount of interest
paid by Trane Technologies to two ESG-related key performance indicators: thepercentage of women in management positions and GHG intensity.

Looking Ahead
As the sustainability landscape continues to evolve, we are finding new ways toincorporate sustainability considerations into our financial strategy and decisions.
We are developing a sustainable finance framework that will allow us to formalize
our approach and accelerate our progress in this space. We are also exploring
additional sustainable finance mechanisms tied to our 2030 Sustainability
Commitments, and we look forward to sharing additional updates in the future.

Trane Technologies / 2022 ESG Report95GOVERNANCE

Public Policy
GRI 2-29

At Trane Technologies, we actively support public
policies that aim to decarbonize buildings and thecold chain in line with our Gigaton Challenge toreduce our customers’ emissions.
For example, we advocate for the accelerated
adoption of low-global warming potential (GWP)
refrigerants, as evidenced by our support of the Kigali
Amendment ratification. We also support policies,
standards, and building codes that encourage theelectrification of heat, energy efficiency, thermalenergy storage, and the use of renewables. In
2022, we signed the COP27 Action Declaration on
Climate Policy Engagement, which commits Trane
Technologies to policy engagement activities that
support the Paris Agreement.

Trane Technologies / 2022 ESG Report

As a technology leader in our industry, our businesses
are often consulted on strategies and policies
that can drive the adoption of reduced emissions
products. Strong policies that drive low-carbon
technologies support our innovation strategies andaccelerate innovation and solution throughout theindustry, which drives market transition.
Providing an increasing number of customers withnext generation technologies increases our ability toinvest in our people, our business, and our ongoingsustainability commitments. While some of thesepolicy efforts occur through lobbying, most of ouradvocacy is accomplished through national and state
regulatory engagement. We measure our progressby the pace of next-generation product adoption bycustomers and the market. For example, we sell our
next-generation, low-GWP chillers in more than 30
countries without mandated regulation.

Issue Management
Our Government Affairs Steering Committee, led by
Chair and CEO Dave Regnery, meets each quarter todiscuss policies and emerging issues and company
positions. Based on these reviews, we decide how toprioritize and support relevant policies and to assess
the positions of allied organizations from NGOs toindustry trade groups. Trane Technologies provides
comments to agencies through trade groups andat times directly, especially related to issues where amembership association is taking a differing view.

96Policy & Advocacy Areas
HIGH GLOBAL WARMING POTENTIAL
HYDROFLUOROCARBONSIn 2022, we directly and indirectly lobbied for the U.S.
Senate to ratify the Kigali Amendment to the Montreal
Protocol, which aligns the United States with othercountries and helps avoid 0.5 degrees Celsius (°C) of
global warming by 2050 by reducing the consumption
and production of hydrofluorocarbons (HFCs). Globally,
Trane Technologies has committed to transitioning
away from today’s high-GWP HFCs over a decade
before the Montreal Protocol’s requirements, further
demonstrating our commitment to reducing ourcustomers’ emissions by 2030.
Supporting this HFC transition also helps create
thousands of U.S. jobs, increases exported heating,ventilation, and air conditioning (HVAC) technologies,
and encourages new investments in the U.S.
economy. As part of our effort to accelerate themarket transformation, we worked on legislation
and regulation in 2022 to enable the new low-GWP
substances in eight states.

ENERGY
Trane Technologies engages in various energy
policies that lead to decarbonization and reduced
emissions. For example, thermal energy storage allows
building owners to use less energy during times ofthe day when utility emissions are typically the highest.
Our successful lobbying at the state and federal levels
led to the inclusion of thermal energy storage in theinvestment tax credit.

Trane Technologies / 2022 ESG Report

We also support building electrification policies
and energy codes at the federal and state levels.
For example, we urged The White House Council
on Environmental Quality and the General Services
Administration to adopt more stringent energy
codes for federal buildings. The codes would create
additional demand for the electrification of heatingand energy management systems and maximize
emissions reductions.
We also work to advance decarbonization policy
efforts. Recently, the U.S. Department of Energy
recognized Trane Technologies for our cold climate
heat pump innovation, which will offer a non-fossil fuelheating and cooling solution that can operate in very
cold climates and substantially lower a home’s carbon
emissions. Further field testing and validation of ourheat pump technology can influence future policies
that drive customer demand.
Trane Technologies employees also volunteered withcode and standard development organizations, suchas the American Society of Heating, Refrigeratingand Air-Conditioning Engineers (ASHRAE) on 115
committees in 2022. Our team members help develop
and encourage the adoption of codes and standards
that reduce the energy consumed in buildings, like
ASHRAE 90.1, and the International Green Construction
Standard, ASHRAE 189.1. Our team members also
participate in ASHRAE’s Task Force for Building
Decarbonization to identify and develop additional
tools for the industry and policymakers to achieve
accelerated building emissions reductions.

HIGHLIGHT

Decarbonization: State
of New Mexico
We continually look for opportunities toadvance decarbonization. Throughout 2022,
we made significant progress by working
with industry groups and state and local
governments, among others. For example,
we worked with the State of New Mexicoon the State Buildings Green Energy
Project to update 32 government buildings
in Santa Fe with high-efficiency HVAC
systems, rooftop solar, water conservation
measures, and advanced building controls.
The project is a decarbonization initiative
focused on improving energy efficiency,
reducing emissions, and ultimately saving
taxpayer money. We are proud to collaborate
with governments of all sizes to support
decarbonization initiatives.

97

Political Activity
We strictly adhere to all laws and regulations
governing corporate political activities. The laws ofmany countries prohibit or strictly limit contributions
by corporations to political parties and candidates.
Although our team members may engage personally,
Trane Technologies prohibits them from doing so on
behalf of our company.
In the United States, we manage a non-partisan
political action committee (PAC), which complies
with all applicable laws and is regulated by theFederal Election Commission (FEC). Under the FEC,
we publicly disclose all funds received by the PAC
and resulting contributions to federal candidates in
the FEC Campaign Finance database. We do not
permit our team members to receive reimbursementfrom Trane Technologies for personal contributions
to political parties and candidates. U.S. lobbying
expenditures totaled $920,975 in 2022. Moreinformation on our lobbying expenditures can befound in the ESG Data Center.

527 ORGANIZATIONS & SUPER PACS
Trane Technologies has not contributed to 527
organizations — political organizations created under
Section 527 of the Internal Revenue Code otherthan political action committees and candidates —and we have no intention of doing so. We also donot, and have no intention to, contribute to federal
independent expenditure-only committees, also
known as “super PACs.”

POLICY ASSOCIATIONSIn 2022, we belonged to the following representative trade, industry, and policy associations: Advanced Energy Economy (AEE) National Association of Manufacturers (NAM)

 Air Conditioning, Heating and Refrigeration Institute(AHRI) National Association of State Energy Officials(NASEO), Executive-level affiliate member American Council for Energy Efficient Economy(ACEEE)

 North Carolina Chamber of Commerce Beijing Yuanshan Foundation — China

 North Carolina Sustainable Energy Association(NCSEA) Business Council for Sustainable Energy (BCSE) Northeast Energy Efficiency Partnerships (NEEP)

 California Energy Storage Alliance (CESA)

 South Central Partnership for Energy Efficiency as a
Resource (SPEER)

 Center for Climate and Energy Solutions (C2ES) CERES Charlotte Regional Business Alliance Southeast Energy Efficiency Alliance (SEEP)
 Southwest Energy Efficiency Partnerships (SWEEP) Clean Energy Buyers Association (CEBA)

 The Alliance for Responsible Atmospheric Policy(ARAP)

 Digital Climate Alliance (DCA) The Energy and Resources Institute (TERI) — India

 Energy Storage Association (ESA) U.S. Business Council for Sustainable Development(US BCSD) European Heat Pump Association
 Foundation for Excellence — India
 Guangzhou Zhikun Charity Foundation — China

 U.S. Green Building Council (USGBC) International WELL Building Institute (IWBI) Midwest Energy Efficiency Alliance (MEEA) World Business Council for Sustainable
Development (WBCSD)

 Manufacturers Alliance for Productivity andInnovation (MAPI) WWF Business Coalition National Association of Energy Service Companies(NAESCO)

Trane Technologies / 2022 ESG Report98Memberships & Partnerships
GRI 2-28

Our representative memberships and partnerships bolster everything we do and are key to our success: AHC Group Clean Energy Buyers Association (CEBA) Shanghai Green Building Association (GBCI) American Chamber of Commerce in Shanghai(AmCham Shanghai)

 Climate Generation: A Will Steger Legacy

 Shanghai Energy Conservation Center Corporate Eco Forum (CEF) Sustainable Energy for All (SEforALL)

 American Belt and Road Working Group under the
U.S. Embassy

 Energy Efficiency Business Coalition (EEBC)

 Sustainable Markets Initiative (SMI) American Center for Life Cycle Assessment (ACLCA)

 Energy & Environmental Building Alliance (EEBA) Shanghai Refrigeration Institute American Chamber of Commerce in India(AmCham India)

 First Movers Coalition

 The Air Conditioning, Heating and Refrigeration
Institute (AHRI)

 American Council for an Energy Efficient Economy(ACEEE) Association of Climate Change Officers (ACCO)
 Association of Energy Engineers (AEE) Association of Physical Plant Administrators (APPA) BuildingGreen Building Decarbonization Coalition (BDC) Center for Climate and Energy Solutions (C2ES)
 China Federation of Logistics and Purchasing(CFLP)
 China Refrigeration and Air Conditioning Industry
Association (CRAA)

Trane Technologies / 2022 ESG Report Global Environmental Management Initiative (GEMI)
 GreenBiz Executive Network (GBEN)
 Institute for Market Transformation (IMT) The Aspen Institute The Conference Board International Code Council (ICC) U.S. Business Council for Sustainable Development(US BCSD)

 International WELL Building Institute™ (IWBI) U.S. Green Building Council (USGBC) Manufacturers Alliance for Productivity andInnovation (MAPI) U.S. Regional Energy Efficiency Organizations:
SPEER, MEEA, SEEA, SWEEP, NEEP, NEEA

 National Association of Environmental Management(NAEM)

 World Business Council for Sustainable
Development (WBCSD) National Association of Manufacturers (NAM)

 World Economic Forum (WEF)

 New Buildings Institute (NBI) Residential Energy
Services Network (RESNET) World Environment Center (WEC)

 Rocky Mountain Institute (RMI) World Wildlife Fund: Climate Business Network99Charters
 Alliance of CEO Climate Leaders is a flagshipcommunity of World Economic Forum member
CEOs that agreed to actively engage in global
efforts to reduce GHG emissions and to help
lead the global transition to a low-carbon, climateresilient economy.

 Disability:IN’s CEO Letter was signed by DaveRegnery, our Chair and CEO, in April 2021. The letter
extends our commitment to advance equality
and inclusion for all. Disability:IN envisions a global
economy in which people with disabilities participate
meaningfully and fully.

 Business Ambition for 1.5 °C is an initiative of the
CDP, the United Nations Global Compact, World
Resources Institute, and the World Wide Fund for
Nature whereby companies commit to set a longterm, science-based target to reach net-zero value
chain GHG emissions no later than 2050.

 EP100 is the Climate Group’s initiative to bring
together companies to commit to doubling theirenergy productivity. There are more than 123 member
companies to date.

 CEO Action for Diversity & Inclusion is the largest
CEO-driven business commitment to advance
Diversity & Inclusion in the workplace, representing
more than 2,400 CEOs.
 Clean Energy Ministerial (CEM) Advanced
Cooling (AC) Challenge urges governments,
companies, and other stakeholders to make, sell,or install super-efficient air conditioners or coolingsolutions that are smart, climate friendly, andaffordable. It is a call to action to recognize thataccess to cooling improves health, productivity,
economic growth, and education.
 Climate and Clean Air Coalition HFC Initiative
partners support the development of HFC inventories
and studies, information exchange on policy andtechnical issues, and demonstration projects tovalidate and promote climate-friendly alternatives.
The coalition also supports technologies and various
capacity building activities to disseminate information
on emerging technologies and practices to transition
away from high-global warming potential HFCs andminimize HFC leakages.

Trane Technologies / 2022 ESG Report EP 100 Cooling Challenge members commit
to identifying ways of cooling their operations as
efficiently as possible – optimizing the contributionof efficient, clean cooling in meeting their energy
productivity goals.
 First Movers Coalition, launched at the Climate
Change Conference COP26, brings together global
companies with supply chains across carbonintensive sectors. Trane Technologies has committed
to purchasing low-carbon steel to help decarbonize
the hard-to-abate steel sector.
 Mission Efficiency is a collaboration of governments,
the private sector, and financial institutions thatcommit to working together to put the world on apath to 3% annual efficiency improvement.
 OneTen Coalition is a coalition of leading companies
committed to training, hiring, and advancing one
million Black Americans over the next 10 years. Trane
Technologies is a founding member.
 EV100 is the Climate Group’s initiative to bring
together companies to commit to transitioning theirvehicle fleets to electric vehicles by 2030.

 Paradigm for Parity is a coalition of businessleaders, board members, and academics whoare committed to addressing the gender gap in
corporate leadership.
 Race To Zero is a global campaign from theUnited Nations Framework Convention on Climate
Change (UNFCC) to rally leadership and support
from businesses, cities, regions, and investors for ahealthy, resilient, zero-carbon recovery that prevents
future threats, creates decent jobs, and unlocks
inclusive, sustainable growth.
 RE100 is The Climate Group’s initiative to bring
together companies to commit to procuring 100%of their electricity consumed from renewables toaccelerate change towards a zero-carbon grid —with more than 280 member companies to date.
 SteelZero is a global initiative of organizationscommitted to procuring, specifying, or stocking
50% net-zero steel by 2030 and 100% net-zerosteel by 100%.
 Sustainable Energy for All (SEforALL) is aninternational organization working with governments,
the private sector, and civil society to drive further,faster action towards achievement of Sustainable
Development Goal 7, which calls for universal
access to sustainable energy by 2030, and the Paris
Agreement, which calls for reducing GHG emissions
to limit climate warming to below 2 °C.
 Task Force on Climate-related Financial
Disclosures (TCFD) supports a transition to a
low-carbon economy, more efficient allocationof capital, and an improved dialogue between
investors and companies.

100 The Cool Coalition is a global multi-stakeholder
network that connects governments and the private
sector to finance, academia, and civil society
groups to facilitate knowledge exchange, advocacy,
and joint action towards a rapid global transition toefficient and climate-friendly cooling.
 U.S. Department of Energy Better Plants Challenge
partners provide transparency around their marketleading strategies, actions, and results to help otherorganizations replicate their success. To date, over
40 leading industrial organizations have stepped up
to the Better Buildings, Better Plants Challenge. The
U.S. Department of Energy Better Buildings, Better
Plants partners have saved more than $5.3 billion in
cumulative energy costs, representing approximately
12% of the U.S. manufacturing energy footprint.

Trane Technologies / 2022 ESG Report

 WEConnect International certifies andconnects women-owned businesses toglobal, corporate buyers.
 We Are Still In is an organization of more than 3,900
businesses, mayors, county executives, universities,
faith groups, and investors that have committed
to standing by the Paris Climate Agreement andworking to meet its goals.
 We Mean Business Commitment to Reduce
Short-Lived Pollutant Emissions is a coalition ofcompanies that agree to include measurementof HFCs in their GHG accounting and reduce
emissions of short-lived climate pollutants (SLCPs).
It also engages stakeholders in supply chainsto reduce SLCPs, promote best practices, andshowcase successful efforts.

 We Mean Business Adopt a Science-Based
Emissions Reduction Target leads businesses torecognize the opportunity — and the imperative —to be part of the zero-carbon transition. By setting
bold, science-based emissions reduction targets,companies can futureproof growth by ensuring
their plans for carbon reduction meet the level ofambition needed to limit the increase in global
average temperature in line with the goals of theParis Agreement.
 World Economic Forum (WEF) Stakeholder
Capitalism Metrics is a reporting frameworkfrom the WEF initiative seeking to improve how
companies measure and demonstrate theircontribution to a more prosperous, fulfilled society
and a more sustainable relationship with our planet.

101Introduction

Ambitions

Environment

SocialGovernance

Products & Innovations

Appendices

Products &Innovation

We’re leading our industry and solving ourcustomers’ big sustainability challenges byinnovating more efficient and sustainableways to provide heating and cooling to people
around the world.

Circularity: Product Life Cycle & Materials
Energy Efficient & Low Emissions ProductsTechnology & Innovation
Supply Chain Transparency & Performance
Trane Technologies / 2022 ESG Report

102

47%

of key commodities (steel, aluminum, copper, etc.) used tomake our products in 2022 were recycled

206,164

mtCO2e from refrigerant recoveredat Trane supply locations in 2022

PRODUCTS & INNOVATION

Circularity: Product Life Cycle & Materials
GRI 3-3Trane Technologies is committed to decarbonizing
the product life cycle from design and manufacturing
through end-of-life. Circular strategies such as using
recycled materials, repair and reuse, remanufacturing,and recycling all play a meaningful role in ourdecarbonization efforts and 2030 Sustainability
Commitments.
By enhancing product circularity strategies, we canreduce waste and emissions throughout our value
chain. Eliminating linear waste streams prevents
downstream landfilling, which poses a hazard to water
quality and air pollution, leading to human health andbiodiversity impacts. Circular design also eliminates ourdependence on upstream virgin material, which may
need to be mined and processed. Recapturing material
can further mitigate environmental risks such as pollution
from extraction operations or waste disposal.
Trane Technologies / 2022 ESG Report

Product circularity presents an opportunity for ourbusiness to mitigate environmental, social, andeconomic impacts from upstream and downstream
sources in our value chain. Through an efficient useof resources, we can strengthen the resiliency of ourvalue chain, create new business opportunities, andpreserve the health and safety of communities where
we operate.

103

Our Approach to Design for Circularity
Trane Technologies’ Circularity Council oversees our circular design approach and product-related roadmap.
The Council also identifies priority focus areas and sets relevant goals and targets. The Council, comprised ofenterprise and business unit subject matter experts, established six strategic pillars for company-wide projects.
Under each pillar, the respective groups are working to refine success metrics and establish goals that support
our 2030 Sustainability Commitment to design systems for circularity.

Strategy

Projects
Material Selection

 Circularity of mined materials (Al, Cu, Steel) Reclaimed Refrigerant in new products
 Packaging made of 100% recyclable or renewable materials

Sustainable Design






Maintain/Prolong/Share Intelligent Services for Repair/Maintenance Augmented reality and Virtual reality for services

Reuse/Redistribute






Refrigerant reclaim
Equipment rentals and leasing
Equipment/ Cooling as a Service
Returnable Packaging (Incoming and finished)

Remanufacture/Upgrade






Remanufacturing / refurbishment of compressors and motors
REMADE + RIC (Design for Reman)R’Newal upgrade program
Additive Manufacturing and 3D Printing for Reman

Recycle Takeback and recycling program

Design for Sustainability and Circularity (DfSC)
Embodied Carbon (TK LCA + Chiller EPD)
Modular Design
Component Standardization

MEASURING PROGRESSGRI 301-2

We currently measure our progress based on the percentage of recycled materials sourced per year andremanufacturing revenues. In 2022, we used approximately 47% of recycled key commodities to manufacture
primary products and had meaningful revenue in the remanufacturing services. Discover more of our productmetrics in the ESG Data Center.

Trane Technologies / 2022 ESG Report104

Product Development
Process
Enhancing circularity begins with our ProductDevelopment Process (PDP). Early in the PDP, teamsof engineers, product managers, and operations work
together on issues such as raw material selection,
natural resource consumption, and use-phase andend-of-life product impacts. We engage stakeholders
during this process to identify new ways to create
value and determine which sustainability attributes
customers value most. We also address market
standards and regulations for energy efficiency andother sustainability requirements.
Through our robust PDP, Trane Technologies may
realize economic benefits, including: Enhanced visibility and transparency in the supply
chain, including quality control; Reduced raw material costs and limited exposure tomarket fluctuations; Long-term, service-based relationships withcustomers, which can help the business growbrand trust and loyalty.

MATERIAL SELECTION, PRODUCTDESIGN & MANUFACTURING
To enhance circularity, our designers and engineers
use proprietary tools to assess and reduce theenvironmental impact of products. Teams can use
these tools to: Study the effects of design choices onnatural resources; Conduct life cycle analyses (LCAs) on critical products;
 Continuously improve our manufacturing process.

Trane Technologies / 2022 ESG Report

We prioritize modularity and component
standardization so our products can be serviced,
remanufactured, upgraded, and recycled. In addition
to reclaiming materials, material selection and designfor circularity helps us reduce embodied carbon.
Embodied carbon represents the carbon emissions
from material extraction, processing, manufacturing,
distribution, and end-of-life associated with a product.
Embodied carbon from our products makes up a
percentage of Trane Technologies’ overall carbon
footprint. As we reduce our operational emissions(Scopes 1 and 2), embodied emissions make up
a higher percentage of our footprint, even as the
cumulative total of our footprint decreases. Increasing
circular product strategies helps to reduce embodied
carbon by reducing emissions from material
extraction, processing, and end-of-life.

When equipment requires an upgrade, we provide anassessment service to determine whether replacing
an existing system or retrofitting will offer a better
return on investment and sustainability benefits. An
upgrade or retrofit can replace critical components
to regain efficiencies and extend equipment life for
equipment not ready for replacement. For some shortterm uses, we offer rental services to our customers,
which allows technicians time to conduct equipment
upgrades without disrupting customer operations.

Through several LCAs for key products, we measured
the carbon footprint of the entire product life
cycle, including embodied carbon. Over time, wewill continue to develop LCAs across our productportfolio. Our refined LCAs help us solidify strategies
to calculate and reduce embodied and operational
carbon as we decarbonize our portfolio. We are also
working on reducing the embodied carbon of criticalmaterials like steel and aluminum. To achieve these
reductions, we work with suppliers to increase the useof scrap metal and explore the use of primary lowcarbon materials.

PRODUCT USE
During the product-use phase, we work withcustomers to extend the life of their products. Our
intelligent predictive services detect minor problems
before they become significant, and our maintenanceand repair services extend system lifetimes andreduce wear that drives up energy costs. Our service
teams can easily upgrade and maintain products
due to component standardization processes andmodular components.

105

END-OF-LIFE
Eventually, our products must be retired. We enable
the reclamation, refurbishment, or recycling of our
products to reduce waste and our manufacturing
impact on natural resources. All business units
provide specific end-of-life product manuals tocustomers with responsible disposal instructions.
Many business units run materials take-backprograms, like our remanufacturing operationin Charlotte, North Carolina, which reclaims
compressors and motors. The location disassembles
the compressors, services parts, and reassembles
the product according to its original specifications.

We also support our customers with proper refrigerant
management and documentation per regulations. In
partnership with U.S. Environmental Protection Agencycertified reclaimers across the United States and ourTrane® Supply locations, we encourage the collectionof used refrigerants to reduce high-global warming
potential hydrofluorocarbon emissions. In 2022, werecovered the equivalent of over 206,000 metric tonsof carbon dioxide equivalent at Trane Supply locations.
Recapturing raw materials — from steel to refrigerants— then adding these materials back to the supply
chain, presents a challenge; we must account fortechnical performance, transportation, quality control,

and recycling infrastructure, among other factors. Our
Circularity Council helps us solve these challenges
and continuously works to improve the reuse process
within our enterprise. Part of the Council’s approach tothese challenges includes collaboration with outsideorganizations. We consult and collaborate with theseexternal experts on circularity strategies, standards,
best practices, innovation, and education. Our
strategic partnerships include The REMADE Instituteand the Remanufacturing Industries Council (RIC),
among others.

Circular Materials

Our Circularity Process

RecycleWe aspire to circularity in our value chain by selecting renewable materials, designing products for serviceability,
and reclaiming materials whenever possible. Looking forward, we plan to enhance our circularity initiatives tominimize linear waste streams.

EOL Manuals
Recycling/Take back programs
Material Selection
Recycled or
renewable materials

Circular Design
Sustainable & Circular Design
Lifecycle assessments
Modular and standardized components
Design for serviceability

Circular Services
Remanufacture/Upgrade
Raw
Materials
Input

Parts
Manufacture

Product
Assembly

Distribution/
Service

Customer/
User

DisposalRemanufacturing of parts and components
Additive Manufacturing
Robotics
Maintain/Prolong/ShareIntelligence for predictive maintenance
ARAR
Reuse/Redistribute

Materials

Trane Technologies / 2022 ESG Report

EnergyCarbonProduct as a Service
Refrigerant Reclaim

106

38%

of revenue was estimated as clean revenue in 2022

PRODUCTS & INNOVATION

Energy Efficient & Low Emissions Products
U.N. SUSTAINABLE DEVELOPMENT GOALS 

GRI 3-3

Our broad portfolio of energy-efficient and low-emission
products reflects our commitment to decarbonizationand our determination to deliver innovative solutions to
our customers.
Older products may contain high-global warming
potential (GWP) refrigerants, require more energy for
operations, or operate primarily on fossil fuels. These
products increase our downstream emissions and ourcustomers’ emissions, which can negatively impact
the climate. Furthermore, older products may cost ourTrane Technologies / 2022 ESG Report

customers more to operate, which leaves less capitalfor reinvestment into human capital development andbusiness operations, among other areas.

Clean Revenue

We are committed to enhancing our customers’
operations and mitigating the effects of climate changewith industry-leading products. We take action to help
our customers decarbonize through electrification, theuse of low-GWP refrigerants, and providing efficient
product solutions.

We measure and track our progress towards anenergy-efficient and low-emission product portfolio
through revenue estimated as Clean Revenue, which
is defined as revenue from products, services andsolutions that directly or indirectly help decarbonize
our customers’ value chain. Our definition is basedon Corporate Knights’ definition, the green revenue
classification from FTSE, and our internal expertise.

Our Chief Technology and Sustainability Officer
oversees strategy and innovation teams that continuallyrefine our product portfolio to meet customer needs.
These teams identify opportunities through stakeholder
engagement, including internal teams and customers.
Our Corporate Engineering Excellence team thenintegrates these opportunities and improvements into
our product development process.

GRI Custom: Clean Revenue

107

Examples of energy-efficient and low-emission
solutions that contribute to our Clean Revenue metric
may include, but are not limited to: Chiller systems that are part of the EcoWise portfolio;
 Smart thermostats and building management
automation systems; Electric heat pumps that replace natural gas
heat systems; Electrified transport refrigeration units and auxiliary
power units that replace diesel-powered units.
In 2022, we estimate that 38% of revenue was
Clean Revenue.

HIGHLIGHT

Networks of Excellence
Within Trane Technologies, we haveestablished Networks of Excellence (NOEs)
comprised of technical scientists andresearchers. NOEs function as a researchgroup focused on the future of materials,
chemistry, modeling/simulation, manufacturing,and compression technologies. These NOEs
drive the development of energy-efficient andlow-emission products and help businesslines commercialize new technologies.

Trane Technologies / 2022 ESG ReportElectrification
Reducing reliance on fossil fuels is a critical step tomitigating the worst effects of climate change. We help
our customers move away from fossil fuel consumption
through the electrification of products throughout our
portfolio, including mobile cooling applications.
For example, as part of our 2030 Sustainability
Commitments, we are committed to reducing ourcustomers’ emissions while reducing food loss in
the global cold chain. Thermo King®, our transport
refrigeration business and a leader in cold chain
decarbonization, is helping our business to achievethese goals. In 2022, Thermo King completed
2,500 hours of testing of its evolve™ electric trailer
with several U.S. retailers. The battery-powered,
all-electric trailer delivered excellent performanceand significantly reduced customers’ emissions
by reducing diesel used in the mobile refrigeration
process. The successful test represents an important
step in delivering Thermo King’s commitment to allelectric, zero-emission solutions for every segment of
the cold chain in the Americas by 2025.
At our location in Charmes, France, we installed
new electric heat pumps to reduce emissions andeliminate natural gas consumption. The installation ofelectric heat pumps serves as a demonstration site
for our customers interested in understanding how
heat pump technology can operate efficiently in cold
winter locations. Read more about our updates at
Charmes in Greenhouse Gas Emissions.

Our Leadership Principle:
We keep customers at theheart of all we do.

Low-Global Warming
Potential Refrigerants
In 2022, Trane® launched CITY Advantage, a line ofcompact scroll water-cooled chillers and water-source
heat pumps for commercial use. These new products
use R454B, a low-GWP refrigerant that offers a 76%
reduction in direct GWP against R410A and a 34%
reduction against R32. The CITY Advantage line also
helps customers move away from fossil fuel-based
technologies and achieve an 11% better Seasonal
Energy Efficiency Ratio (SEER) in cooling mode andup to 5% better Seasonal Coefficient of Performance(SCOP) in pure heating mode. These modular
technologies help our small to medium businesscustomers reduce their emissions footprint, increase
efficiency, and lower operating costs.

Non-Greenhouse Gas
Emissions
Trane Technologies’ new product development
reduces NOX gases and other emissions throughimproved product efficiency. For example, ThermoKing launched the Precedent S-750i in 2022. The new
trailer refrigeration unit reduces NOX emissions by 52%
and particulate matter by 96% for solutions under 25
horsepower. Additionally, the Precedent S-750i uses
R452A refrigerant, which offers a 45% reduction in GWP
compared to R404A and is compliant with existing andproposed California CARB regulations. Our innovative
products like those from Thermo King reduce
emissions from city transportation sources and dense
urban built environments.

108

Product Reliability& Safety
Our products undergo rigorous testing to ensure they
consistently operate in the most extreme conditions—
usually when customers need our products the most.
We measure product reliability and safety against
relevant industry standards and codes, including UL,
NEC, ANSI, and others. Our cross-functional productdevelopment process (PDP) teams identify andaccount for environmental, health, and safety risks
throughout every phase of the PDP. They also conduct
a design failure modes and effects analysis to identify
and take action to rectify potential failures and theircauses. Additionally, we measure our products’ healthand safety against internal serviceability, reliability, anddurability metrics.
Though we often go beyond regulatory requirements
for efficiency, we adhere to performance levels set byexternal standard-setting bodies such as the American
Society of Heating, Refrigerating and Air-Conditioning
Engineers (ASHRAE) or the U.S. Environmental
Protection Agency Energy Star® designation for Trane
products and by standards set at the country, state,
and local levels for Thermo King® products. Sub-meters
or utility consumption reports at the building or subbuilding level allow us to audit and verify the additional
efficiency achieved through our services.
We comply with regulations and codes concerning
product labeling, service information, marketing
communications, and customer safety. The designatedlegal counsel within each business follows a process
to address noncompliance issues in these areas.
Each business takes responsibility for tracking
noncompliance-related incidents in the market in which
it operates. At an enterprise level, Trane Technologies
does not collect this data or make general statementson this topic.

Trane Technologies / 2022 ESG Report

109

750+

$211M

new ideas generated by
employees participating in
Operation Possible

145+

invested in sustainability-driven
R&D in 2022

new patent filings

PRODUCTS & INNOVATION

Technology & Innovation
Transforming Our Core Business

TRANSFORMING OUR
CORE BUSINESS:
U.N. SUSTAINABLE DEVELOPMENT GOALS 

Trane Technologies / 2022 ESG Report

smart sustainable cities

sustainable food systems

SMART, SUSTAINABLE CITIES:
Decarbonizing the built environmentand respective operations.

SUSTAINABLE
FOOD SYSTEMS:
Minimizing food waste and reducing
climate impacts in food value chains.

SUSTAINABLE
HEALTH NETWORKS:
Enhancing the evolution of healthand wellness networks.

Identifying opportunities andlaunching new products thattransform transportation, residential,
and commercial heating and cooling.

GRI 3-3

Our industry-leading products and services help
customers create healthy indoor environments,
operate efficiently, and adapt to a changing climate.
We continually look for areas to apply our industry
expertise to broader environmental, social, andeconomic challenges. Through innovative ideas thatbring advanced technology-enabled products andservices to our clients, we aim to focus our work on
the following areas through the end of the decade.

sustainable health networks

access for all

ACCESS FOR ALL:
Enabling access to life-sustaining
heating and cooling, food, healthy
spaces, and a healthy planet forpeople worldwide.

110

We align our innovative product development
processes with our 2030 Sustainability Commitments,
and the Gigaton Challenge plays a significant role in
our innovation roadmap. By using these commitments
as a foundation, we can develop targeted, impactful
solutions that improve our customers’ operations.
Our Enterprise Innovation and Advanced Technology
teams continuously look for new markets where existingor emerging technology can address unmet needs.
Through our Networks of Excellence and stakeholder
engagement network, including accelerators,
universities, national labs, non-governmentalorganizations, and clean tech investors, we source andincubate ideas, pilot technologies, and deploy themthrough our corresponding business units.
Using this multi-stakeholder engagement approach,the learnings collected through every projectcontribute to the success of future products andservices. A cross-functional, cross-business unit
steering committee, including our Chief Technology
and Sustainability Officer, oversees each project. An
intellectual property committee manages our assets
at the enterprise level and our portfolio of patents
across business units.

Our Leadership Principle: Wedare to do things differently.

Operation Possible
Operation Possible is our internal crowd-sourcing
innovation program that gives team members acrossthe enterprise an opportunity to submit problems andpotential solutions aligned to our 2030 Commitments.
Fighting food loss and hunger was selected as thefirst challenge for Operation Possible starting in 2021.
In 2022, teams in India, China, Vietnam, the UnitedStates and Belgium worked on a solution to reducefood loss for street vendors in developing economies.
The result of this collaboration is the cooling cart
— a mobile pushcart with a canopy using passive
cooling technology that helps street vendors keep
fruits and vegetables fresh for longer periods, whichsignificantly reduces food spoilage at the point ofsale to the consumer.
Throughout the design and validation stage, thedesign team consulted directly with local street
vendors, community representatives, students, andgovernment officials to understand street vendors’social and economic challenges. Through an iterative
design and stakeholder engagement process,the teams developed a prototype that can reduce
temperatures below the food cart canopy by up to 10
degrees. The cooling effect can help vendors extend
the life of produce by several days. With more time tosell food, street vendors can reduce food loss while
improving their net income.
The cooling cart received promising field-testing
results and positive feedback from street vendors in
Kolar, India. Trane Technologies continues to partnerwith external stakeholders to scale this solution tomore locations as part of our commitment to reducing
food waste and creating Opportunity for All.

Trane Technologies / 2022 ESG Report

FUTURE ACTIONS
Since Operation Possible’s inception, over 3,000
employees from 19 countries have generated
approximately 750 ideas. In 2022, Operation Possible
launched its second ideation challenge focusedon tackling the unsustainable use and disposal ofplastic waste, contributing directly to United Nations
Sustainable Development Goal 12, Responsible
Consumption and Production. We plan to launchanother challenge in 2023 as we continue acting on
our ambitions to create positive impact.

111

Center for Healthy& Efficient Spaces
The Center for Healthy & Efficient Spaces (CHES)
guides our efforts to address indoor environmental
quality (IEQ). IEQ provides a holistic view of theconditions inside a building, including thermal
comfort, lighting, acoustics, and indoor air quality (IAQ).
Improving IEQ can have a direct influence on people’s
health and productivity.
As part of our Sustainable Health Networks pillar,
CHES convenes leading internal and external experts
to simplify the complexity around IEQ. These partners
help us advance strategies that seek to improveindoor air quality without compromising energy
efficiency. For example, in 2022, CHES continued torelease new episodes in its Healthy Spaces podcast,which brings together industry experts to discuss
trends, challenges and opportunities around healthy
and efficient spaces. In 2022, the podcast exceeded
61,000 downloads, reaching a global audience.
CHES also invests heavily in the research and testingof emerging IAQ technologies. Its publication ofscientific papers helps bring transparency to themarket for air filtration devices. Trane Technologies
became a partner with the Australian ResearchCouncil Training Center for Advanced Building
Systems Against Airborne Infection Transmission,launched in 2022. We also served as partners andcontributors to the World Business Council on
Sustainable Development’s 2022 report “Healthy
People, Healthy Business.”
We continue to see strong demand in themarketplace for solutions that deliver both healthy andefficient spaces — particularly in the context of futureof work and sustainability goals.

Trane Technologies / 2022 ESG Report

HIGHLIGHT

Healthy buildings, healthy planet
In 2022, we began to develop new artificial intelligence (AI)-based Trane® Commercial Digital Services offering
to reduce energy consumption and carbon emissions in buildings without compromising human comfort.
Trane controllers send real-time building data to a cloud-based AI system, creating a thermodynamic model ofthe building. Using predictive and self-adapting AI models, Trane controllers receive information, which adapts
the heating, ventilation, and air conditioning (HVAC) system behavior in a way that simultaneously optimizes
energy consumption and comfort levels in the building while reducing emissions and equipment wear.
We piloted an AI-based solution with one of the largest plasma therapy companies in the United States.
The pilot ran at five blood plasma donation and collection facilities, resulting in an average reduction of HVAC
utility spending (natural gas and electricity) of approximately 18% and emissions reductions of up to 37%.
The building optimization pilot helped the plasma-based therapy company create healthy spaces throughcarbon emission reductions and optimized comfort. With new HVAC savings, our customers can reinvest inlife-saving technology.
Innovative AI solutions are one of many ways Trane Technologies helps customers reduce emissions andimprove efficiencies. These projects contribute directly to our Gigaton Challenge and help us pilot technology
to create smart, sustainable cities.

112

Innovation Performance
GRI Custom: Innovation Revenue

In 2022, the approximately $211 million we invested
in sustainability-driven research and development
centered on: Product and system-level improvements such asincreasing energy efficiency;
 Developing and implementing low-GWP refrigerants;
 Reducing material content in products;
 Designing products for circularity.
We consistently align this research and development
investment to our business growth. By leveraging
our enterprise innovation, advanced technology, andengineering technology center teams, this investment
has generated revenue from new products at theworld-class rate of 21.2% of our overall revenue —highlighting our balanced portfolio of new and mature
product lines.
This 21.2%[1] is Trane Technologies’ Innovation Revenue
metric. We define the metric as the revenue occurringin the current reporting year, derived from new solutions
or new markets launched within the prior 36 months.
We also invested over $300 million in businessdevelopment activities including mergers andacquisitions, minority investments, and strategic
partnerships across multiple sectors including life
sciences, the built environment, IEQ, and clean
technology. Over 90% of this investment is focused on
advancing our sustainability-related objectives.

HIGHLIGHT

Acquisition of AL-KO
Air Technology
Trane Technologies acquired AL-KO Air
Technology in late 2022. With a reputation forsustainable solutions, innovation, and quality,
AL-KO Air Technology is a natural extension of
our focus on healthy and efficient buildings. ALKO’s product portfolio of air handling units andextraction systems supports improved IEQ in awide range of facilities — from manufacturing
to data centers and hospitals. AL-KO’sinnovative solutions will complement Trane®’srobust commercial product portfolio.

1.	World class performance for revenue from new products — also defined as
the portfolio vitality index — is 20-25%, to ensure that mature and emerging
products work together to balance risk and opportunity.

Trane Technologies / 2022 ESG Report

113

HIGHLIGHT

Powhatan County Schools
As leaders in the Powhatan County School District in Virginia began
construction on a new building, they decided to upgrade existing buildings.
Outdated lighting made the existing buildings feel dark, while poor indoor air
quality and inconsistent heating made classrooms uncomfortable for students.
Funding for the upgrades proved to be another challenge for the district.
Trane® helped the school district by creating an energy performance contract,
allowing the district to leverage energy savings to pay for upgrades. Trane
began an audit of the existing buildings and identified five areas that would
provide the best value: Lighting and water upgrades Equipment recommissioning Building envelope improvements

 Ongoing service

To address these areas, Trane made a host of upgrades to the school, including
LED lighting replacements, recommissioning energy management systems, andinstalling high-efficiency equipment, among other solutions.
The upgrades enhanced the academic environment, improving indoor air
quality and comfort. Energy costs decreased by 20% and the district cut GHG
emissions by more than 1,500 metric tons of carbon dioxide equivalent. The
comfortable, brighter rooms improved morale and students responded withenthusiasm. Recently, the district reported that improved test scores werenoted following the upgrades. Our partnership with Powhatan County Schools
underscores our ambition to reduce emissions and improve efficiency, while
directly contributing to our commitment of creating Opportunity for All. Read
more about our collaboration with Powhatan County Schools.

 Energy management

Trane Technologies / 2022 ESG Report

114

100%

of new suppliers screened using environmental
criteria in 2022

95%

of direct material spend was subject to on-site
assessments in 2022

PRODUCTS & INNOVATION

Supply Chain Transparency & PerformanceGRI 2-6Trane Technologies is a global company with a broad
product and service portfolio. We operate offices andmanufacturing sites in multiple countries and utilize a
network of over 27,000 suppliers worldwide to sourcecomponents and raw materials like steel, copper, andaluminum, among other commodities. In 2022, our
combined annual spend was over $10 billion for directmaterial suppliers and indirect suppliers.
Like many global companies, our complex supply
chain is subject to risk in the form of labor violations,harassment, and corruption, among others. Additionally,
complex supply chains present economic challenges,
like labor shortages or raw material price fluctuations. At
Trane Technologies, we systematically update policies
and conduct assessments to mitigate environmental,social, and economic supply chain risks.

Trane Technologies / 2022 ESG Report

We recognize an opportunity in these risks: a chance tohelp suppliers improve their operations. Safeguarding
human rights, the environment, and our supply chain
operations is critically important, and we continue tofind ways to enhance performance and transparency.

Procurement Process
Our Global Procurement leadership team, led
by our Senior Vice President Supply Chain andOperational Services, manages our strategic
sourcing process. This process helps Trane
Technologies receive the highest quality goods
and services possible while supporting suppliers
who operate ethically and sustainably.

During supplier selection, we use an innovative
supplier decision matrix that empowers our
procurement officers to consider not only price,
but also a range of ESG factors such as supplier
diversity, sustainability, quality, and risk in theirdecision. A cross-functional team determines theweight of each factor within the matrix based on thecriticality of ESG to the purchase.
We consult third-party data from Rapid Ratings andAmber Road when considering new suppliers. This
information gives us a snapshot of suppliers’ financial
health, a critical factor in our selection process.

115

We also maintain a Preferred Supplier Program.
Preferred suppliers receive additional growth
opportunities while helping us build a supply basealigned with our core values. We streamlined thecriteria for becoming a preferred supplier into fivecategories, including sustainability expectations andconsistent reporting on sustainability metrics. Throughour Preferred Suppliers Program, we offer training on
ESG objectives and our Business Partner Code of
Conduct (BPCoC). At the end of 2022, 29% of directmaterial spend was with preferred suppliers.

Risk Assessment Process
We have compiled and refined a robust set of risk
assessment procedures that allows us to evaluate
suppliers on a broad set of criteria. We expect our
suppliers to share our values and continually improvetheir environmental and social conditions for the
benefit of local communities and our planet.
We assess our supply chain for risk on an ongoingbasis through our enterprise and category risk
assessment processes. In 2022, we revised ourrisk assessment process to include a category risk
component, which allows us to assess suppliers
based on the components they produce, likerefrigerants or compressors. In 2022, 100% of ourdirect material spend was assessed for risk every
quarter. Additional information about our supply chaintransparency and performance can be found in our
ESG Data Center.
We use our On-Site Assessment (OSA) audits toevaluate sustainability and business continuity risks
on a supplier-site-specific basis. A team of engineers
manages the OSA process. Evaluated risks cover
several categories including quality management,
environmental protection, human rights, labor relations,cybersecurity, product and safety compliance, andsub-supplier management. In 2022, we added aTrane Technologies / 2022 ESG Report

new category to our OSA: supply chain assessment.
Suppliers will be evaluated on risks associated withhow they manage multi-level Tier 2 sourcing, demandplanning, and factory support planning.
Approximately 28% of the OSA focuses on ESGrelated topics. Our engineers complete and review
these audits on a rolling basis, and every 3 years, weevaluate approximately 1,200 of our existing suppliers
through an OSA. We evaluate all new direct material
suppliers using an OSA; suppliers must receive aminimum score of 80% to do business with us. In
2022, 374 suppliers, making up about 32% of our directmaterial spend, were evaluated. None were identified
as having significant actual or potential negativeenvironmental or social impacts.
We partnered with Assent, a third-party supply chain
data management solution, to assist in collecting andmanaging our supplier Conflict Mineral surveys andreports. The collected data allows us to identify andfollow up with potential and high-risk suppliers. We
also send out an annual Human Trafficking/Modern
Slavery Survey to our suppliers that are flagged forpotential high-risk commodities and locations.

Logistics
At Trane Technologies, we seek opportunities tooptimize our logistics, reduce our carbon footprint
and cycle time, improve labor conditions, andincrease transparency. Several of our efficiency
strategies include: Using space on truckload shipments to transport
greater volume in fewer trucks; Pooling lower-weight shipments into single
truckloads for transportation to less-than-truckload
carrier terminals;
 Creating multi-stop routes and optimizing destinations.
These programs help reduce transit miles and avoid
carbon dioxide (CO2) emissions. For example, throughpooling shipments in 2022, we consolidated over
17,000 tons onto approximately 2,200 full truckload
shipments, avoiding an estimated 489 metric tonsof CO2e. From 2021 to 2022, our dry van and flatbed
truck shipment weights increased by 5%. The weightincrease equates to the removal of 233 trucks
traveling approximately 195,000 miles and reduced
emissions by 302 metric tons of CO2e.
We also prioritize SmartWay® carriers, a U.S.
Environmental Protection Agency program that
promotes freight efficiency and sustainability throughtransparent data tracking. In 2022, 74% of loads
shipped with SmartWay certified carriers, avoiding
approximately 3,000 metric tons of CO2 compared tonon-SmartWay carriers.

116

Additionally, our Dedicated Carrier Program focuses
on reducing empty trailer miles. In 2022 this program
reduced empty miles by 16%, leading to an emissions
reduction of approximately 1,895 metric tons of CO2.
We also utilize DHL’s Global Forwarding sustainablemarine fuel service, which confirms our shipments
in scope, then ensures a corresponding amount ofsustainable marine fuel is used on container vessels.
Since implemented at the end of 2022, we have paida GoGreen fee for more than 80 containers, resulting
in an emissions reduction of approximately 137 metrictons CO2.
We continually look for new opportunities to improve
our logistics, which can reduce our environmental
impact and enhance our reputation amongcustomers and freight partners.

Shared Supplier
Sustainability Goals
The Trane Technologies Business Partner Code of
Conduct (BPCoC) communicates our expectations
that suppliers operate ethically. The BPCoC is
written and approved by legal and procurement andapproved by Global Procurement leadership. The
BPCoC is part of our standard terms and conditions
for all suppliers. The BPCoC covers ESG topics and isaligned with the United Nations Universal Declaration

Trane Technologies / 2022 ESG Reportof Human Rights. We expect that all suppliers operatewith full compliance and hold their own suppliersto the same high standards. Compliance with the
BPCoC is measured during the OSA process.
In addition to adhering to the ethical operating
principles outlined in the BPCoC, we ask suppliers
to strive toward the goals outlined in our Trane
Technologies Supplier Sustainability Expectations forthe benefit of our customers and the environment.
We manage supplier EHS and sustainability data
through Benchmark ESG®, a reporting platform thatprovides visibility into supplier performance against
our standards. At the end of 2022, 100% of preferredsuppliers were enrolled.
Recognizing that sustainability is a journey, we actively
assist our suppliers to apply best practices in resource
conservation, packaging, and other topics listed inour expectations; we offer trainings and workshops
designed by in-house experts based on the need andinterest of our suppliers. We also meet with suppliers
regularly to help them understand their OSA score,develop action plans for improvement, and consider
them for our Preferred Supplier Program. We do not
maintain relationships with suppliers who cannot
uphold our BPCoC, meet quality expectations, or who
violate labor standards. To learn more about our ethicaloperations and expectations, visit Business Integrity.

117Introduction

Ambitions

Environment

SocialGovernance

Products & Innovations

Appendices

Appendices
GRI Content Index
SASB Content Index
TCFD Content Index
WEF Content Index
ESG Data Center
Trane Technologies / 2022 ESG Report118

APPENDICESGRI Content Index
GRI 2: General Disclosures 2021
Disclosure #GRI Disclosure Title

2022 Direct Response or Location

The organization and its reporting practices
2-1

Organizational details

Trane Technologies
170/175 Lakeview Drive
Airside Business Park
Swords, Co. Dublin, Ireland
Form 10-K: Part I, Item 2
Form 10-K: Cover page and Item 1

2-2

Entities included in the organization’s sustainability reporting

Form 10-K; Part I

2-3

Reporting period, frequency and contact point

Reporting period: 1 January 2022–31 December 2022
Reporting frequency: Annual
Date of report publication: 26 April 2023
Point of contact: Alys Daly
Alys.DalyPeters@tranetechnologies.com

2-4

Restatements of information

Trane Technologies / 2022 ESG Report

Data & Frameworks

119Disclosure #GRI Disclosure Title

2022 Direct Response or Location

2-5

External assurance

Data & Frameworks
Our environmental, health & safety and GHG data are assured annually by an independent third party.
The assurance process is led by the Vice President, Environmental, Health and Safety Operations who reports
to Senior Vice President, Supply Chain and Operational Services

Activities and workers
2-6

Activities, value chain and other business relationships

Form 10-K: Part I
Form 10-K: Part I and Part II
Supply Chain Transparency & Performance​
During the reporting year, there were no major changes within our supply chain.

2-7

Employees

Global Workforce
ESG Data Center
Our workforce breakdown includes the total number of full-time and hourly employees by region and gender.
We employ contractors but do not currently track the region and gender breakdown of the contractor
workforce. We did not experience significant fluctuations in our workforce during the reporting period.

2-8Workers who are not employees

Global Workforce
ESG Data Center

Governance
2-9

Governance structure and composition

ESG Management
2022 Annual Report2-10

Nomination and selection of the highest governance body

2-11

Chair of the highest governance body

ESG Management
2022 Annual Report
ESG Management
2022 Annual Report

Role of the highest governance body in overseeing themanagement of impacts

ESG Management

2-13

Delegation of responsibility for managing impacts

ESG Management

2-14

Role of the highest governance body in sustainability
reporting

ESG Management

Conflicts of interest

2022 Annual Report2-122022 Annual Report
2022 Annual Report

2-15

2022 Annual Report

The company’s Conflicts of Interest Policy requires employees to disclose actual or potential conflicts ofinterest in a variety of categories, which generally capture the four categories of conflicts defined by GRI
2-16-b. Each disclosure is reviewed by the company’s Ethics and Compliance Group and disclosed to theemployee’s manager. Conflict disclosures are escalated within the company, including the Board of Directors,
as necessary to effectively eliminate or mitigate the conflict.

Trane Technologies / 2022 ESG Report120

Disclosure #GRI Disclosure Title

2022 Direct Response or Location

2-16

Communication of critical concerns

Business Integrity
2022 Annual Report
The company’s Vice President and Deputy General Counsel, Global Ethics and Compliance reports six
times a year on critical concerns to the company’s Global Business Integrity Council (GBIC) and to the
Audit Committee of the Board of Directors at each Board meeting. The GBIC brings executive focus andexpertise to drive consistent implementation of risk-based compliance solutions to prevent, detect, andremediate misconduct and promote an ethical culture. The GBIC is chaired by the CEO and co-owned by
the General Counsel and the Vice President – Global Ethics and Compliance, who acts as the company’s
chief compliance officer. Other members of the Council include Chief Financial Officer, Senior Vice President,
Human Resources, and the Vice President, Audit Services. As defined in its charter, the Council executes
the company’s global ethics and compliance program and supervises subordinate regional compliancecommittees. If necessary, the Vice President and Deputy General Counsel, Global Ethics and Compliancehas access to the Chair of the Audit Committee to escalate any particular concern immediately. Several
times during the year, the Vice President and Deputy General Counsel, Global Ethics and Compliance haveexecutive sessions with the Audit Committee, without management present, to review potential escalations.

2-17

Collective knowledge of the highest governance body

ESG Management
2022 Annual Report

2-18

Evaluation of the performance ofthe highest governance body

ESG Management

2-19

Remuneration policies

2022 Annual Report

2-20

Process to determine remuneration

2022 Annual Report

2-21

Annual total compensation ratio

2022 Annual Report

2022 Annual Report

Strategies, policies, and practices
2-22Statement on sustainable development strategy

CEO Letter

2-23

Policy commitments

Our environmental, health and safety, and ethical operations policies are described throughout our ESG
report. Links, applicable activities, and communication processes are described in the relevant section.
Business Integrity
Company Culture
Environmental, Health & Safety Management
Human Rights

2-24

Embedding policy commitments

Business Integrity
Company Culture
Environmental, Health & Safety Management
Human Rights

2-25

Processes to remediate negative impacts

Trane Technologies / 2022 ESG Report

Business Integrity

121

Disclosure #GRI Disclosure Title

2022 Direct Response or Location

2-26

Mechanisms for seeking advice and raising concerns

Business Integrity

2-27

Compliance with laws and regulations

Trane Technologies operates with integrity and expects all employees and business partners to uphold thesame ethical standards. The number of instances of non-compliance and the monetary value of fines for
instances of non-compliance are considered confidential.

2-28

Membership associations

Memberships & Partnerships

Stakeholder Engagement
2-29

Approach to stakeholder engagement

Data & Frameworks
Customer Focused Solutions
Public Policy

2-30Collective bargaining agreements

17.7% of global workforce covered by collective bargaining agreements.
Trane Technologies determines working conditions and terms of employment on a regional, country, andindustry specific basis.

GRI 3: Material Topics 2021
Disclosure #GRI Disclosure Title

2022 Direct Response or Location

3-1

Process to determine material topics

Data & Frameworks

3-2

List of material topics

Data & Frameworks

Business Integrity | GRI 205: Anti-Corruption 2016
3-3

Management of material topics

Business Integrity

205-2

Communication and training about anti-corruption policies
and procedures

Business Integrity
Our anti-corruption policy is communicated to 100% of employees, including our Board of Directors, throughour Code of Conduct and to 100% of our business partners through the Business Partner Code of Conduct.
All salaried employees, including the Board of Directors, must complete anti-corruption training upon hire andannually based on a risk analysis of their function at the company.

Climate Risk | GRI 201: Economic Performance 2016
3-3

Management of material topics

Climate Change

201-2

Financial implications and other risks and opportunities due
to climate change

Climate Change
Climate Risk
TCFD Index
CDP Climate Change

Company Culture | GRI 401: Employment 2016
3-3

Evaluation of management approach

Trane Technologies / 2022 ESG ReportCompany Culture

122

Disclosure #GRI Disclosure Title

2022 Direct Response or Location

401-1

New employee hires and employee turnoverCompany Culture
ESG Data Center

401-2
401-3

Benefits provided to full-time employees that are notprovided to temporary or part-time employees

Company Culture

Parental leave

Company Culture

ESG Data Center
ESG Data Center

Diversity & Inclusion | GRI 405: Diversity & Equal Opportunity 2016
3-3

Explanation of the material topic and its boundaries

Diversity & Inclusion

405-1

Diversity of governance body and employees

Diversity & Inclusion
ESG Data Center

Greenhouse Gas Emissions | GRI 305: Emissions 2016
3-3

Management of material topics

Greenhouse Gas Emissions

305-1

Energy direct (Scope 1) Greenhouse Gas emissions

Greenhouse Gas Emissions
ESG Data Center
Gases included in the calculation: CO2, CH4, N2O, HFCs
Base year for the calculation: 2019
Source of emissions factors and the GWP rates used: IPCC AR5 – Climate Change 2013; EPA Climate Leaders,Emission Factors for Greenhouse Gas Inventories, March 9, 2018; 2017 Climate Registry Default Emissions
Factors Report, Table B.2, March 15, 2017.
Consolidated approach for emissions: Financial control
Standards, methodologies, assumptions and/or calculation tools used: World Resources Institute, The
Greenhouse Gas Protocol (Data & Report)

305-2

Energy indirect (Scope 2) Greenhouse Gas emissions

Greenhouse Gas Emissions
ESG Data Center
Gases included in the calculation: CO2, CH4, N2O, HFCs and small quantities of HCFCs (e.g. R22)
Base year for the calculation: 2019
Source of emissions factors and the GWP rates used: USA location factors: 2020 eGRID, eGRID2020-data.xlsx,
January 27, 2022
Other locations: International Energy Agency, IEA (2021) Emission Factors
Consolidated approach for emissions: Financial control
Standards, methodologies, assumptions and/or calculation tools used: World Resources Institute, The
Greenhouse Gas Protocol

Trane Technologies / 2022 ESG Report123Disclosure #GRI Disclosure Title

2022 Direct Response or Location

305-3

Other indirect (Scope 3) Greenhouse Gas emissions

Greenhouse Gas Emissions
Gases included in Scope 3 calculations: All data sources and calculation methodologies vary based on themost relevant Scope 3 category calculated.
Base year: 2019305-4

Greenhouse Gas Emissions intensity

Greenhouse Gas Emissions
ESG Data Center
Organization-specific metric (the denominator): Million USD
Types of Greenhouse Gas Emissions included in the intensity ratio: Scope 1 and market-based Scope 2
Gases included in the calculation: CO2, CH4, N2O

305-5

Reduction of Greenhouse Gas Emissions

Greenhouse Gas Emissions
Gases included in the calculation: CO2, CH4, N2O
Base year or baseline: 2019
Scopes in which reductions took place: Scope 1 and Scope 2
Standards, methodologies, assumptions and/or calculation tools used: GRI 305: Emissions 2015,
Disclosure 305-5

305-6

Emissions of Ozone-Depleting Substances (ODS)

Trane Technologies is not a manufacturer of ODSs based on its interpretation of GRI 305-6.

305-7

Nitrogen Oxides (NOx), Sulfur Oxides (SOx), and othersignificant air emissions

ESG Data Center
Persistent organic pollutants, volatile organic compounds, hazardous air pollutants, particulate matter, andother standard categories of air emissions identified in relevant regulations are not significant air emissions
for Trane Technologies.
Source of emission factors: U.S. EPA, Compilation of Air Pollution Emission Factors (AP-42), U.S. EPA Updated
Emission Factors of Air Pollutants from Vehicle Operations in GREET Using MOVES; and vendor technicaldata sheets
Standards, methodologies, assumptions and/or calculation tools used: General calculation method is material
usage multiplied by emissions factor

Trane Technologies / 2022 ESG Report124Disclosure #GRI Disclosure Title

2022 Direct Response or Location

Energy | GRI 302: Energy 2016
3-3

Management of material topics

Energy302-1

Energy consumption within the organization

EnergyESG Data Center
Standards, methodologies, assumptions and/or calculation tools used: GRI 302: Energy 2016, Disclosure 302-2
EPA Climate Leaders, Emission Factors for Greenhouse Gas Inventories, 9 March 2018; Climate Change,
2013, The Physical Science Basis, Working Group I Contribution to the Fifth Assessment Report of theIntergovernmental Panel on Climate Change, Chapter 8, Appendix 8.A, Table 8.A.1; 2017 Climate Registry Default
Emission Factors report, Table B.2, March 15, 2017

302-2

Energy consumption outside the organization

All energy was consumed within the organization.

302-3

Energy intensity

EnergyESG Data Center
Organization-specific metric (the denominator): revenue
Types of energy included in the intensity ratio: Fuel, heating, and electricity
All energy used was consumed inside the organization. Calculated using Trane Technologies' energy usage
and multiplying against relevant DEFRA and IEA emission factors

302-4

Reduction of energy consumption

EnergyESG Data Center
Types of energy included in the reductions: fuel, heating, and electricity
Base year for targets: Calendar year 2020
Methodology: GRI 302: Energy 2016: 302-4

Energy Efficient & Low Emissions Products | GRI: Custom Disclosure
3-3Management of material topics

Energy Efficient & Low Emissions Products

CustomClean revenue

Energy Efficient & Low Emissions Products
ESG Data Center

Sustainable Product Design & Life Cycle | GRI 301: Materials 2016
3-3

Management of material topics

Circularity: Product Life Cycle & Materials

301-2

Recycled input materials used

Circularity: Product Life Cycle & Materials
ESG Data Center

Technology & Innovation | GRI: Custom Disclosure
3-3Management of material topics

Technology & Innovation

CustomAverage revenue from innovation

Technology & Innovation
ESG Data Center

Trane Technologies / 2022 ESG Report125

APPENDICESSASB Content Index
Disclosure #Disclosure

Industry

Unit

Location or Direct Response

Number of units
produced by productcategory

Electrical and Electronic Equipment

Number

Proprietary

Number of employees

Electrical and Electronic Equipment

NumberGlobal Workforce(employees + contractors)
42,380

Gigajoules (GJ),
Percentage (%)

Energy1. 3,068 billion KJ energy consumed,
2. 44% grid electricity,
3. 56% renewable

Accounting Metrics
RT‑EE-000.A; RTIG-000.A

RT-EE-000.B; RTIG-000.B

Industrial Machinery and Goods

Industrial Machinery and Goods
Energy Management
RT-EE-130a.1; RTIG-130a.1

1. Total energy consumed,
2. percentage grid electricity,
3. percentage renewable

Electrical and Electronic Equipment
Industrial Machinery and Goods

Product Lifecycle Management
RT-EE-410a.1

Percentage of products by revenue that
contains IEC 62474 declarable substances

Electrical and Electronic Equipment

Percent (%)
by revenue

Data not available

RT-EE-410a.2

Percentage of eligible products, by revenue, thatmeet Energy Star® criteria

Electrical and Electronic Equipment

Percent (%)
by revenue

In 2022, 32% of revenue is from productsthat can meet the efficiency metrics
specified by EnergyStar for Residential
Furnaces and Residential & Light
Commercial Central Air-conditioners andHeat Pumps.

RT-EE-410a.3

Revenue from renewable energy-related andenergy efficiency-related productsElectrical and Electronic Equipment

Reporting currency

Approximately 38% revenue from products
and services that contribute to the clean
energy transition.

Trane Technologies / 2022 ESG Report126Disclosure #Disclosure

Industry

Unit

Location or Direct Response

Electrical and Electronic Equipment

Metric tons (t),Percentage (%)

Amount of hazardous waste generated:
1,004 metric tons

Hazardous Waste Management
RT-EE-150a.1

Amount of hazardous waste generated,
percentage recycled

Based on SASB's assessment test, we've
determined this isn't material. Learn more
about our waste reduction processes on
the Waste page.
RT-EE-150a.2

Number and aggregate quantity of reportablespills, quantity recovered

Electrical and Electronic Equipment

Number, Kilograms(kg)

Zero reportable spills in 2022

RT-EE-250a.1

Number of recalls issued, total units recalled

Electrical and Electronic Equipment

NumberBased on SASB's assessment test, we've
determined this isn't material. For more
information on this topic, please see
our Energy Efficient & Low Emissions
Products page.

RT-EE-250a.2

Total amount of monetary losses as aresult of legal proceedings associatedwith product safety

Electrical and Electronic Equipment

Reporting currency

Based on SASB's assessment test, we've
determined this isn't material. For more
information on this topic, please see
our Energy Efficient & Low Emissions
Products page.

Description of the management of risks
associated with the use of critical materials

Electrical and Electronic
Equipment Industrial Machinery and Goods

N/A

Circularity: Product Life Cycle &Materials

Product Safety

Materials Sourcing
RT-EE-440a.1; RT-IG-440a.1

Supply Chain Transparency &Performance
Business Ethics
RT-EE-510a.1

Description of policies and practices forprevention of:Electrical and Electronic Equipment

N/A

Business Integrity

1. corruption and bribery and2. anti-competitive behavior
RT-EE-510a.2

Total amount of monetary losses as aresult of legal proceedings associatedwith bribery or corruption

Electrical and Electronic Equipment

Reporting currency

Based on SASB's assessment test, we've
determined this isn't material. For more
information on this topic, please see ourBusiness Integrity page.

RT-EE-510a.3

Total amount of monetary losses as aresult of legal proceedings associated with
anticompetitive behavior regulations

Electrical and Electronic Equipment

Reporting currency

Based on SASB's assessment test, we've
determined this isn't material. For more
information on this topic, please see ourBusiness Integrity page.

Trane Technologies / 2022 ESG Report127Disclosure #Disclosure

Industry

Unit

Location or Direct Response

Industrial Machinery and Goods

Rate

1. TRIR: 0.80

Employee Health &Safety				
RT-IG-320a.1

1. Total recordable incident rate (TRIR),
2. fatality rate, and3. near miss frequency rate (NMFR)

2. Fatality Rate: 0
3. Trane Technologies tracks lost-time
incident rates among employees andcontractors. For more information, readabout Occupational Health & Safety.

Fuel Economy & Emissions in Use-Phase
RT-IG-410a.1

Sales-weighted fleet fuel efficiency for mediumand heavy-duty vehicles

Industrial Machinery and Goods

Gallons per 1,000
ton-miles

Based on SASB’s assessment test, we’ve
determined this isn’t material. For more
information on this topic, please see ourGreenhouse Gas Emissions page.

RT-IG-410a.2

Sales-weighted fuel efficiency for non-road
equipment

Industrial Machinery and Goods

Gallons per hour

Based on SASB’s assessment test, we’ve
determined this isn’t material. For more
information on this topic, please see ourGreenhouse Gas Emissions page.

RT-IG-410a.3

Sales-weighted fuel efficiency for stationary
generators

Industrial Machinery and Goods

Watts per gallon

Based on SASB’s assessment test, we’ve
determined this isn’t material. For more
information on this topic, please see ourGreenhouse Gas Emissions page.

RT-IG-410a.4

Sales-weighted emissions of:Industrial Machinery and Goods

Grams perkilowatt-hour

Based on SASB’s assessment test, we’ve
determined this isn’t material. For more
information on this topic, please see ourGreenhouse Gas Emissions page.

Industrial Machinery and Goods

Reporting currency

2022 Revenue: $98,575,215

1. nitrogen oxides (NOx) and2. particulate matter (PM) for:a.) marine diesel engines,b.) locomotive diesel engines,c.) on-road medium- andheavy-duty engines, andd.) other non-road diesel engines
Remanufacturing Design & Services
RT-IG-440b.1

Revenue from remanufactured products andremanufacturing services

Trane Technologies / 2022 ESG Report

Circularity: Product Life
Cycle & Materials

128

APPENDICES

TCFD Content Index
Disclosure2022 Source

Governancea) Describe the board’s oversight of climate-related risks and opportunitiesb) Describe management’s role in assessing and managing climate-relatedrisks and opportunities.

2022 ESG Report

ESG Management

2022 CDP Climate Change Questionnaire

Question C1.1a

2022 ESG Report

ESG Management
Climate Risk

2022 CDP Climate Change Questionnaire

Questions C1.2 and C1.2a2022 Annual Report

2022 CDP Climate Change Questionnaire2022 Annual Report​Climate Change
Climate Risk
Greenhouse Gas Emissions
Public Policy
Energy Efficient & Low Emissions ProductsTechnology & Innovation

2022 CDP Climate Change Questionnaire

Questions C2.3a and C2.4a

2022 Annual Report

2022 Annual Report

2022 ESG Report

Climate Change
Climate Risk
Greenhouse Gas Emissions
Public Policy
Energy Efficient & Low Emissions ProductsTechnology & Innovation

2022 CDP Climate Change Questionnaire2022 CDP Climate Change Questionnaire

Strategya) Describe the climate-related risks and opportunities the organization has
identified over the short, medium and long term.

b) Describe the impact of climate-related risks and opportunities on theorganization’s businesses, strategy and financial planning.

Trane Technologies / 2022 ESG Report129Disclosure2022 Sourcec) Describe how processes for identifying, assessing and managing climaterelated risks are integrated into the organization’s overall risk management.

2022 ESG Report

Climate Change
Climate Risk
ESG Management

2022 CDP Climate Change Questionnaire

Question C1.2 and C2.2

2022 ESG Report

Data & Frameworks
Climate Change
Climate Risk
ESG Management

2022 CDP Climate Change Questionnaire

Question C2.2b) Describe the organization’s processes for managing climate-related risks.

2022 ESG Report

Climate Change
Climate Risk
ESG Management

2022 CDP Climate Change Questionnaire

Question C2.2c) Describe how processes for identifying, assessing and managing climaterelated risks are integrated into the organization’s overall risk management.

2022 ESG Report

Climate Change
Climate Risk
ESG Management

2022 CDP Climate Change Questionnaire

Question C1.2 and C2.2a) Disclose the metrics used by the organization to assess climaterelated risks and opportunities in line with its strategy and risk
management process.

2022 ESG Report

AmbitionsSustainable Development Goals
Climate Change
Greenhouse Gas Emissions
EnergyWater
Energy Efficient & Low Emissions Products
Circularity: Product Life Cycle & Materials
Technology & Innovation
Supply Chain Transparency & Performanceb) Disclose Scope 1, Scope 2 and, if appropriate, Scope 3 greenhouse gas(GHG) emissions and the related risks.

2022 ESG Report

Greenhouse Gas Emissions
GRI Content Index
ESG Data Center

2022 CDP Climate Change Questionnaire

Question C4.1ac) Describe the targets used by the organization to manage climate-relatedrisks and opportunities and performance against targets.

2022 ESG Report

Ambitions
Climate Change
Greenhouse Gas Emissions
EnergyWater
Energy Efficient & Low Emissions Products
Circularity: Product Life Cycle & Materials
ESG Data Center

2022 CDP Climate Change Questionnaire

Question C4.1aRisk Managementa) Describe the organization’s process for identifying and assessing climaterelated risks.

Metrics & Targets		

Trane Technologies / 2022 ESG Report

130

APPENDICESWEF Content Index
Theme

Disclosure

Location or Direct Response

Governing purpose

The company’s stated purpose, as the expression of the means by which a businessproposes solutions to economic, environmental and social issues. Corporate purpose should
create value for all stakeholders, including shareholders.

Ambitions

Quality of governing body

Composition of the highest governance body and its committees by: competencies relating
to economic, environmental and social topics; executive or non-executive; independence;tenure on the governance body; number of each individual’s other significant positions
and commitments, and the nature of the commitments; gender; membership of under
represented social groups; stakeholder representation.

2022 Annual Report
ESG Management

Stakeholder engagement

A list of the topics that are material to key stakeholders and the company, how the topics
were identified and how the stakeholders were engaged.

Data & Frameworks

Ethical behaviour;
anti-corruption

1.Total percentage of governance body members, employees and business partners who
have received training on the organization’s anti-corruption policies and procedures, broken
down by region.

Business Integrity

Governance Pillar		a.) Total number and nature of incidents of corruption confirmed during the current
year, but related to previous years; andb.) Total number and nature of incidents of corruption confirmed during the current
year, related to this year.
2. Discussion of initiatives and stakeholder engagement to improve the broader operating
environment and culture, in order to combat corruption

Trane Technologies / 2022 ESG Report131ThemeDisclosure

Location or Direct Response

Ethical behaviour; protectedethics advice and reporting

A description of internal and external mechanisms for:Business Integrity

1. Seeking advice about ethical and lawful behaviour and organizational integrity; and2. Reporting concerns about unethical or unlawful behaviour and lack oforganizational integrity
Company risk factor and opportunity disclosures that clearly identify the principal material
risks and opportunities facing the company specifically (as opposed to generic sector risks),
the company appetite in respect of these risks, how these risks and opportunities have
moved over time and the response to those changes. These opportunities and risks should
integrate material economic, environmental and social issues, including climate change anddata stewardship.

Form 10-K: Part I, Item 1A

Climate change;
GHG Emissions

For all relevant greenhouse gases (e.g. carbon dioxide, methane, nitrous oxide, F-gases etc.),report in metric tonnes of carbon dioxide equivalent (tCO2e) GHG Protocol Scope 1 andScope 2 emissions. Estimate and report material upstream and downstream (GHG Protocol
Scope 3) emissions where appropriate.

Greenhouse Gas Emissions
ESG Data Center

Climate change;
TCFD Implementation

Fully implement the recommendations of the Task Force on Climate-related Financial
Disclosures (TCFD). If necessary, disclose a timeline of at most three years for full
implementation. Disclose whether you have set, or have committed to set, GHG emissions
targets that are in line with the goals of the Paris Agreement — to limit global warming to well
below 2 °C above pre-industrial levels and pursue efforts to limit warming to 1.5 °C — and toachieve net-zero emissions before 2050.

Ambitions
TCFD Content Index

Nature Loss

Report the number and area (in hectares) of sites owned, leased or managed in or adjacentto protected areas and/or key biodiversity areas (KBA).

Trane Technologies is reviewing operational sites and plans torelease data in the future. Read more about our biodiversity
progress in the Climate Change section of our report.

Freshwater Availability

Report the number and area (in hectares) of sites owned, leased or managed in or adjacentto protected areas and/or key biodiversity areas (KBA).

Water

Percentage of employees per employee category, by age group, gender and otherindicators of diversity (e.g. ethnicity).

Global Workforce
Diversity & Inclusion
ESG Data Center

Ratio of the basic salary and remuneration for each employee category by significant
locations of operation for priority areas of equality: women to men, minor to major ethnic
groups, and other relevant equality areas

Proprietary

1. Ratios of standard entry level wage by gender compared to local minimum wage.

1. Proprietary
2. 2022 Annual Report

Risk and opportunity oversight

Planet Pillar		People Pillar
Dignity & Equality

2. Ratio of the annual total compensation of the CEO to the median of the annual totalcompensation of all its employees, except the CEO.
An explanation of the operations and suppliers considered to have significant risk forincidents of child labour, forced or compulsory labour. Such risks could emerge in relation to:

Proprietarya.) type of operation (such as manufacturing plant) and type of supplier; andb.) countries or geographic areas with operations and suppliers considered at risk.

Trane Technologies / 2022 ESG Report132ThemeDisclosure

Location or Direct Response

Health and well‑being

1. The number and rate of fatalities as a result of work-related injury; high-consequencework-related injuries (excluding fatalities); recordable work-related injuries; main types ofwork-related injury; and the number of hours worked.

Occupational Health & Safety
ESG Data Center

2. An explanation of how the organization facilitates workers’ access to non-occupational
medical and healthcare services, and the scope of access provided for employees andworkers
Skills for the future

Average hours of training per person that the organization’s employees have undertaken
during the reporting period, by gender and employee category (total number of hours of
training provided to employees divided by the number of employees). Average training anddevelopment expenditure per full time employee (total cost of training provided to employees
divided by the number of employees).

Learning & Development

Total number and rate of new employee hires during the reporting period, by age group,
gender, other indicators of diversity and region. Total number and rate of employee turnover
during the reporting period, by age group, gender, other indicators of diversity and region

Global Workforce
ESG Data Center

1. Direct economic value generated and distributed (EVG&D), on an accruals basis, covering
the basic components for the organization’s global operations, ideally split out by:Form 10-K, Part II

Prosperity Pillar		
Employment and wealthgeneration

 Revenues
 Operating costs
 Employee wages and benefits
 Payments to providers of capital Payments to government Community investment
2. Financial assistance received from the government: total monetary value of financial
assistance received by the organization from any government during the reporting period.
Total capital expenditures (CapEx) minus depreciation, supported by narrative to describe
the company’s investment strategy. Share buybacks plus dividend payments, supported bynarrative to describe the company’s strategy for returns of capital to shareholders

2022 Annual ReportInnovation of better products
and services

Total costs related to research and development.

Technology & Innovation
ESG Data Center

Community and social vitality

The total global tax borne by the company, including corporate income taxes, property taxes,
non creditable VAT and other sales taxes, employer-paid payroll taxes, and other taxes that
constitute costs to the company, by category of taxes.

Form 10-K, Part II

Trane Technologies / 2022 ESG Report133

APPENDICESESG Data Center
Environmental
Greenhouse Gas Emissions

2019

2020

2021

2022

North America

247,940

201,785

172,781

183,069

Latin America

21,791

20,87745,886

21,072Europe, the Middle East, Africa

29,24541,92430,797

26,127

Asia Pacific

16,772

14,097

9,711

7,370

North America

121,156

109,152

101,520

86,213Latin America

11,46910,08013,375

13,954

Europe, the Middle East, Africa

5,561

4,984

4,238

3,809

Asia Pacific

17,81916,18919,892

20,082

Total Scope 1 GHG emissions (metric tons CO2e)315,747

278,682259,175

237,639

Emissions from fuels used in manufacturing

49,021

44,76747,30551,377

Emissions from fuels used in service vehicles

65,011

59,977

61,61966,667

Scope 1 Regional GHG Emissions (metric tons CO2e)

Scope 2 Regional GHG Emissions (metric tons CO2e)

Scope 1 and 2 GHG Emissions Breakdown (metric tons CO2e)

Trane Technologies / 2022 ESG Report134Greenhouse Gas Emissions

2019

2020

2021

2022

Emissions from refrigerant leaks in manufacturing
processes and cooling equipment

198,481

171,389

147,664

116,950

Fugitive volatile organic compound (VOC) emissions
from manufacturing processes

3,234

2,549

2,587

2,645

0

0

0

78.37

Total Scope 2 location-based GHG emissions (metric tons CO2e)

156,005

140,405

139,026

124,057

Total Scope 1 and 2 location-based GHG emissions (metric tons CO2e)471,752

419,087

398,201

355,290

36.08

33.65

28.17

22.22

Reduction in absolute Scope 1 and 2 location-based
GHG emissions from 2019 baseline (metric tons CO2e)-52,66573,551

116,462

Reduction of GHG emissions intensity, including location-based
Scope 2 emissions, from a 2019 baseline (metric tons/USD)

-

2.43

7.91

13.86

32.34

28.48

22.79

18.34

139,947

133,985

133,086

129,053

Avoided GHG emissions from electricity generated
by on‑site solar/photovoltaic systems

2,299

1,992

2,077

2,694

Avoided GHG emissions from purchased or supplier-provided RECs

1,244

4,381

21,262

24,930

Avoided GHG emissions from VPPA renewable energy credits

29,29951,58446,70945,722

Total avoided GHG emissions from renewable energy

32,841

57,95770,04773,345

Total adjusted market-based Scope 2 GHG emissions

107,075

75,87062,89655,708422,853354,710322,214293,347

-

16%

24%

31%

Reduction in total Scope 1 and Scope 2
GHG emissions by renewable energy

23%

43%

53%

57%

Percent reduction in absolute Scope 1 and 2 market-based
GHG emissions from 2019 baseline

10%

15%

19%

17%

365 million

331 million

366 million

303 million

Business Travel (assured)

30,340

3,788

1,895

6,313

Upstream leased assets (estimate)

67,00065,613

63,141

63,141

Upstream and downstream distribution and transportation (estimate)

135,628

136,434

98,24590,444

Biogenic emissions (mtCO2e)

Normalized total Scope 1 and 2 location-based
GHG emissions (metric tons CO2e/USD)

GHG intensity ratio for the organization
Scope 2 Adjusted Emissions (metric tons CO2e)
Total unadjusted location-based Scope 2 GHG emissions

Total Scope 1 and 2 absolute market-based GHG emissions
Reduction in Scope 2 GHG emissions by renewable energy since 2019

Scope 3 GHG Emissions (metric tons CO2e)
Product Use (assured)

Trane Technologies / 2022 ESG Report135Greenhouse Gas Emissions

2019

2020

2021

2022

NOX

104.04

95.26

98.46

107.79

SOX

6.66

5.48

5.56

6.90

Volatile Organic Compound (VOC) emissions

269.53212.42215.62220.45

Energy

2019

2020

2021

2022

Direct (fuel use)

1,908

1,761

1,831

1,971

Natural gas

795

766

791

799

Gasoline

807

739

784

852

Diesel

217

192

182

232

Propane

61

48

53

59

Solar electricity generated and used

9

9

9

12

Aviation fuel

18

7

12

15

Indirect (electricity)

1,167

1,100

1,148

1,098

Total Energy Consumption

3,075

2,861

2,979

3,068

Normalized energy use (billion kJ/million USD)

0.23440.229

0.21010.1918

Total electricity consumption

1,167

1,100

1,148

1,098

Total heating consumption

795

766

791

799

Total cooling consumption

0

0

0

0

Total steam consumption

0

0

0

0

Total electricity sold

0.94

1.43

0.89

2.41

Total heating sold

0

0

0

0

Total cooling sold

0

0

0

0

Total steam sold

0

0

0

0

2.49

25.20

22.68

20.10

Other Air Emissions (metric tons)

Absolute Energy Use (billion kJ)

Energy Consumption and Sales (billion kJ)

Reduction in energy consumption achieved as a direct
result of conservation and efficiency initiatives

Trane Technologies / 2022 ESG Report136

Energy

2019

2020

2021

2022

Renewable energy generated (billion kJ)

23

22

23

28

Renewable energy generated and sold to grid (billion kJ)

0.94

1.43

0.89

2.41

Renewable energy generated and used (billion kJ)

9.48

8.91

9.44

12.20

Renewable energy purchased (billion kJ)

235

451

574

604

Percentage grid electricity

79%

58%

49%

44%

Percentage renewable electricity

21%

42%

51%

56%

Number of RE100-compliant sites

3

15

20

20

Renewable Energy Data

Trane Technologies Renewable Energy Sources[1]1.

Renewable Energy Projects

LocationType

2021 Production

2022 Production

REC Treatment

Trenton Solar Project

Trenton, NJ, USA

On-Site Solar PV

1,994 MWh

2,149 MWh

Utility owns RECs[2]Columbia Solar Project

Columbia, SC, USA

On-Site Solar PV

1,575 MWh

1,462 MWh

Utility owns RECs[2]Taicang Solar Project

Taicang, China

On-Site Solar PV

2,622 MWh

3,389 MWh

Company owns
renewable energy
attributes from 100%of generation

Seymour Hill Wind Farm VPPA

Northern Texas, USA

Wind VPPA

105,892 MWh

103,263 MWh

Company owns andretires RECs

Use of Zero Carbon Electricity

Bari, Italy; Galway &Shannon, Ireland;
Essen, Germany

Direct supply of 100%
renewable electricity by
local power provider

5,086 MWh

6,926 MWh-

Vendor Provides RECs or GOs

Barcelona, Spain;
Hastings, NE, USA; Prague
ETC & Kolin, Czech
Republic; Tyler, TX, USA

Power company
purchases and retires
RECs/Guaranteesof Origin (GO) for a
portion or 100% of Trane
Technologies electricity

44,965 MWh

54,083 MWh

Power provider retires
RECs/GOs on behalf ofTrane Technologies

MWh = megawatt hour

2. The RECs from this project are owned by the utilities. We purchase replacement RECs, equal to the amount of solar generated by the PV system, from other renewable energy facilities in the U.S.

Trane Technologies / 2022 ESG Report137Waste

2019

2020

2021

2022

1,008

874

1,038

1,004

Total non-hazardous waste generated

32,56930,457

31,83632,655

Total waste generated

33,57731,33132,87433,659Total solid waste generated

10,521

8,758

6,832

6,332

-

17%

35%

40%

0.07710.07010.07340.0628

2.49

2.45

2.25

2.04

21

22

26

31

Non-hazardous waste to landfill

5,564

6,103

4,227

1,807

Non-hazardous waste recycled

23,05522,572

26,042

27,483

Normalized non-hazardous waste to landfill (metric tons/million USD)

0.43

0.49

0.30

0.11

Normalized non-hazardous waste recycled (metric tons/million USD)

1.76

1.81

1.84

1.72

Emissions avoided from returnable packaging projects (metric tons CO2e)>1,000

>22

415.5

1,252

Solid waste avoided from returnable packaging projects (metric tons)>1,000

>200

1,360

2,424

Water

2019

2020

2021

2022

Water use (million cubic meters)

2.94

2.78

2.89

2.45

Normalized water use (cubic meters/million USD)

225

223

205

153

Percent of total water use at sites in areas of high to extremely highwater stress

10%

8%

8%

9%

295,381

226,368

242,604

230,746

Reduction in water use in water-stressed regions from 2019 baseline

-

23%

18%

22%

Trane Technologies sites in areas of high to extremely high water-stress

15

14

14

14

Wastewater permit exceedances

2

1

3

1

Waste Generated (metric tons)
Total hazardous waste generated

Reduction in solid waste generated from a 2019 baseline
Normalized hazardous waste (metric tons/million USD)
Normalized non-hazardous waste (metric tons/million USD)
Number of sites that achieved zero waste to landfill at 90% diversion
by year end
Waste Disposal (metric tons)

Packaging Data

Wastewater used in water stressed locations (cubic meters)

Trane Technologies / 2022 ESG Report138SocialGlobal Workforce
Location (2022)
Asia Pacific

EMEA

Americas

Total

Employee Type

Women

Men

Hourly

7.6%

73

92.4%

884

957

Salaried

25.0%

1,226

75.0%

3,671

4,897

Hourly

6.2%

147

93.8%

2,209

2,356

Salaried

29.3%

621

70.7%

1,496

2,117

Hourly

25.5%

3,837

74.5%

11,237

15,074

Salaried

30.8%

3,774

69.2%

8,494

12,268Hourly

22.1%

4,057

77.9%

14,33018,387

Salaried

29.2%

5,621

70.8%

13,661

19,282

New Employee Hires

2019

2020

2021

2022

Total new hires

-

3,837

7,321

7,432

New hires: women (global)

-

31.1%

29.2%

30.2%

Salaried

-

34.5%

35.0%

37.6%

Hourly

-

29.6%

25.6%

26.9%

Management  

-

31.5%

32.6%

33.3%

-

26.3%

52.0%

45.5%

-

47.9%

44.2%

50.5%

Salaried

-

23.5%

25.5%

28.5%

Hourly

-

57.8%

54.1%

59.1%

Leadership  New hires: Racially & ethnically diverse overall (U.S.)[1]

Gender Diversity Data

2019

2020

2021

2022

Women

Men

Women

Men

Women

Men

Women

Men

Governance body (Executive
Leadership Team)

33.3%

66.7%

12.5%

87.5%

13.3%

86.7%

18.8%

81.2%

Leadership positions (director level,
vice president and above)

23.1%

76.9%

21.7%

78.3%

24.6%

75.4%

26.2%

73.8%

All management positions (all levels ofmanagement)

-

-

21.8%

78.2%

23.1%

76.9%

24.2%

75.8%

24.3%

75.7%

25.3%

74.7%

25.5%

74.5%

25.7%

74.3%

Workforce
1.

Grand Total

Classified into five minimum categories by the US Census: White, Black or African American, American Indian or Alaska Native, Asian, and Native Hawaiian or Other Pacific Islander

Trane Technologies / 2022 ESG Report139Racial & Ethnic Diversity Data

2019

2020

2021

2022

Racially & Ethnically Diverse (US) Overall

-

36%

36%

37%

Salaried

-

18%

18%

20%

Hourly

-

51%

52%

53%

Promotion rates (overall)

-

4%

7%

6%

Women

-

6%

8%

8%

Men

-

4%

6%

6%

Racially & ethnically diverse (US)

-

6%

7%

7%

White

-

5%

8%

8%

Members of our board of directors: women

-

5

5

5

Members of our board of directors: men

-

8

7

8

Global Workforce Data

2019

2020

2021

2022

Full-time employees

36,636

34,64636,434

37,669Contractors

2,962

3,108

3,123

4,711

Key talent retention rate

96.1%

97.2%

94.6%

93.1%

[1]

Age groups (2022)

1.

Under 30 years old

30-50 years old

50+ years old

Percentage of individuals with the organization’s governance body
(Executive Leadership Team)

0.0%

45.4%

54.6%

Percentage of employees

17.2%

49.2%

33.6%

Classified into five minimum categories by the US Census: White, Black or African American, American Indian or Alaska Native, Asian, and Native Hawaiian or Other Pacific Islander

Company Culture

2019

2020

2021

2022

Diversity & Inclusion Index

-

76

76

77

Sustainability Index

-

79

79

80

Average Employee Engagement Survey score

-

80

79

80

Participation rate

-

90%

89%

88%

Employee Engagement Survey Results

Trane Technologies / 2022 ESG Report140

U.S. Parental Leave Data

1.

2019

2020

2021

2022

Women

Men

Women

Men

Women

Men

Women

Men

Employees who were eligible for parental leave

4,709

13,725

4,624

11,934

4,97812,841

5,251

13,500

Employees who took parental leave

130

312

106

253

119

263

100

260

Employees who returned to work

124

306

102

247

112[1]

258[1]

97

255

Return to work rate

95%

98%

96.2%

97.6%

94.1%

98.1%

97.0%

98.1%

Employees who returned to work andwere still employed after 12 months

86%

91%

86.9%

89.9%

78.3%

84.2%

78.2%

85.6%

[2]

[2]

Completed benefits in 2021 and were still employed 30 days after completing benefits.

2. Completed benefits in 2020 and were still employed 12 months after completing benefits.

Corporate Citizenship

2019

2020

2021

2022

Percent of employees globally who volunteered in community orsustainability initiatives

36%

49%

31%

35%

Volunteer participants

17,044

15,811

10,748

13,571

31,682

20,55930,041

62,274

Trane Technologies Foundation donations to community partners$5,455,080$5,108,779$5,214,266$5,771,469

Charitable fundraising$1,007,855$3,170,136$1,692,459$1,544,622

Charitable contributions$1,818,910$1,048,499$2,235,053$2,944,494

In-kind giving$415,502$969,319$1,442,378$3,767,773

Value of employee volunteering time during paid working hours$805,673$548,284$784,371$1,680,782

Administrative overheads$150,407$88,893$103,709$182,924$9,653,427$10,933,910$11,472,236$15,892,064

-

13%

5%

39%

2019

2020

2021

2022

All employees

8

14

11

10.2

Salaried employees

9

-

17.9

18.1

Hourly employees

7

-

3.5

3.4

Employee & Community Engagement Data

Global Contributions

Percent increase year over year in philanthropic giving

Learning & Development
Average Number of Learning & Development Hours

Trane Technologies / 2022 ESG Report141Occupational Health & Safety Data
Total recordable incident rate (per 200,000 hours worked)

2019

2021

2022

0.86

0.79

0.96

0.8

0.1

0.09

0.12

0.14

Employee lost time frequency rate (per million hours worked)  

0.52

0.44

0.55

0.64

Contractor lost time frequency rate (per million hours worked)  

0.53

0.24

1.17

1.35

Employee occupational illness frequency rate (per million hours worked)  

0

0

0

0

Work-related fatalities

0

0

0

0

79,229,015

72,715,458

76,124,306

81,041,574

0.52

0.44

0.59

0.69

Human Rights Data

2019

2020

2021

2022

Salaried employees trained on anti-harassment (U.S.)

100%

100%

100%

100%

Employees able to access anti-harassment policy

100%

100%

100%

100%

Salaried employees trained on anti-corruption (U.S.)

100%

100%

100%

100%

Supplier Diversity Data

2019

2020

2021

2022

-

4.25

4.25

4.25

Total hours worked (among employees and supervised
employee contractors)  
Number of Lost time Incidents per million hours worked
1.

2020

Lost time incident rate (per 200,000 hours worked)[2][1](recordable injuries x 200,000) / total hours worked by employees

2. (recordable injuries resulting in lost work time x 200,000) / total hours worked by employees

Supplier diversity score[1]

Number of diverse suppliers added

-

103

71

113

$532 million$380.4 million$435.1 million$607.7 million

Percent of spend with diverse-owned businesses

-

6%

6.8%

7.4%

Percent increase in diverse-owned business spend

-

11.1%

14.3%

39.7%

Diverse-owned business spend

Diverse-owned business spend since inception of program in 20131.

>$2.6 billion>$3 billion>$3.4 billion>$4.0 billion

Percent of spend with women-owned businesses

-

3.8%

4.1%

4.7%

Percent increase in women-owned business spend

-

18.8%

15.4%

14.2%

We measure our program against the National Minority Supplier Development Council’s eight best practices. Scores are 0 to 5.

Trane Technologies / 2022 ESG Report142Governance
Lobbying Expenditures

2019

2020

2021

2022

Total monetary value of Trane Technologies’ financial and in-kind lobbying
contributions made directly and indirectly by the organization.

$680,370$632,680$804,508$920,975

Employee contributions to Trane Technologies’
political action committee (U.S. Only)$27,658$22,056$15,284$12,391

2019

2020

2021

2022

New product development projects generated or
improved by the Product Development Process

-

194

181

212

Avoided emissions from refrigerant reclamation program (metric tons CO2e)-177,350

197,056

206,164

Percentage of recycled key commodities used to manufacture
the organization’s primary products and services

-

-

44%

47%

Revenue from remanufactured products
and remanufacturing services (U.S. only)--$100 million$100 million

Energy Efficient & Low Emissions Products

2019

2020

2021

2022

Clean Revenue percentage[1]

25%

30%

35%

38%

35% of shipment

53% of residential revenue

Approximately 25% ofproduct & revenue
contribute to clean
energy transition

Approximately 30% of
products & revenue
contribute to clean
energy transition

Approximately 35% revenue
from products andservices that contribute to
the clean energy transition

Approximately 38% revenue
from products andservices that contribute to
the clean energy transition.

-

85%

>85%

>80%

Products & Innovation
Circularity: Product Life Cycle & Materials
Product Life Cycle Data

Materials Data

See packaging data in Waste section

Percentage of eligible products, by revenue,
that meet Energy Star® criteria[2]Revenue from renewable energy-related and energy
efficiency-related products

Projects meeting or exceeding quality, design, and cost goals
1.

41% of revenue from
Residential Furnaces
and Residential & Light
Commercial Central
Air-conditioners andHeat Pumps

32% of revenue is fromproducts that can meetthe efficiency metrics
specified by EnergyStar
for Residential Furnaces
and Residential & Light
Commercial Central
Air-conditioners andHeat Pumps.

This is an estimation of the percentage of revenue Trane Technologies defines as Clean Revenue.

2. In 2022, we elected to include products that can meet specifics defined by Energy Star but did not pursue certification.

Trane Technologies / 2022 ESG Report143Technology & Innovation
Average revenue from innovation

2019

2020

2021

2022

18.6%

20.5%

20.5%

21.2%

$236 million$165 million$193 million$211 million

Business development spend--$300 million$300 million

Percent of business development spend focused on sustainability-related objectives

-

-

>90%

>90%

New products and services launched

-

54

62

69

New patent filings

-

-

>145

>145

2019

2020

2021

2022

Research and development spend

Supply Chain Transparency & Performance
Supplier Data
Number of Trane Technologies suppliers across the globe-

15,46725,00027,539$10.2 billion$8.25 billion$8.6 billion$10.03 billion

42%34.70%

35%

29%

-

-

100%

100%

-

1,500

1,600

968

Direct material spend subject to On-Site Assessments

86%

69%[1]

93%

95%

Direct material spend assessed on a quarterly basis for risk

100%

100%

100%

100%

-

-

100%

100%

501

321

209

299

Number of suppliers identified as having significant actualand potential negative environmental or social impacts

0

0

0

0

Significant actual and potential negative environmental or social impacts
identified in the supply chain

-

0

0

0

Percentage of suppliers identified as having significant actual and potential negative environmental
or social impacts with which improvements were agreed upon as a result of assessment

-

0%

0%

0%

Percentage of suppliers identified as having significant actual and potential negative environmental
or social impacts with which relationships were terminated as a result of assessment

-

0%

0%

0%

Reduction in dwell time in North America

-

-

50%

50%

Reduction in empty truck miles driven through Dedicated Carrier Program

-

-

16%

16%

Emissions avoided through Dedicated Carrier Program (metric tons CO2e)

-

-

211

1,895

Combined annual spend for direct and indirect commodities
Direct spend with preferred suppliers
Preferred suppliers enrolled in ESG reporting platform
Supplier Risk Assessment Data
Total number of suppliers audited for sustainability and business risks
through On‑Site Assessment (OSA) audits over three years

Percentage of new suppliers that were screened using environmental and social criteria
Number of suppliers assessed for environmental and social impacts

Logistics Data1.

Due to COVID, we were unable to go on-site to conduct many of the planned OSAs.

Trane Technologies / 2022 ESG Report

144

TRANETECHNOLOGIES.COM