(3BL Media/Justmeans) Earlier this week, we wrote thatÂ General Motors (GM) received a perfect score in CDPâs climate assessment of the S&P 500. Today I want to talk about another, less well-known company that also did well in these rankings that has been quietly working behind the scenes to reduce their carbon footprint.
Ingersoll Rand is an Irish company with a history dating back to 1871. It now has facilities all over the world. Their first product was a steam-powered rock drill. Today they make a number of products under their own name (industrial and commercial power tools), as well as under several other brands including: Trane (HVAC equipment), Thermo King (refrigerated transport), ARO (fluid handling equipment) and Club Car (golf carts). These types of products have the potential to make a difference in the climate equation and the company knows it. The company has demonstrated a commitment to environmental responsibility throughout its product line.
The CDP report evaluated companies on both their level of climate disclosure as well climate actions. This was done as a service to a substantial investor group that considers these factors essential in evaluating the investment potential of a company. Ingersoll Randâs 2014 score of 93 was a 13 point improvement over last year and a 38 point increase over 2011, the first year they participated. What has the company done to merit such a substantial increases?
The report evaluations were based on surveys sent to each company. The actual survey responses were not made public. However, the CDP announcement comes on the heels of Ingersoll Randâs Climate Commitment to increase energy efficiency and reduce greenhouse gas emissions related to operations and products. The company has committed to reducing the greenhouse gas refrigerant footprint of their products by 50 percent and reducing greenhouse gas emissions from its operations by 35 percent by 2020. The company has also committed to invest $500 million in more climate-friendly and energy-efficient products over the next five years. Â The results of these actions will undoubtedly show up in future CDP assessments.
This week the companyâs Thermo King division is participating in the IAA Commercial Vehicle Show in Hannover, Germany. There they will be announcing new tractor-trailer refrigeration systems utilizing the alternative refrigerant R-452A. This new refrigerant was developed by DuPont as a drop-in replacement for R404 (the current standard) but with a 50% lower global warming potential (GWP). Transitioning to this refrigerant has the potential to avoid 1.6 million metric tons of CO2 in the US by 2020. They will be offering a wide range of other solutions including: pharmaceutical transport solutions, Â low-noise PIEK certified refrigerated transport systems, cryonic systems using recovered liquid CO2 R-744, and rooftop air-conditioning units for hybrid and electric buses.