Why External Accountability Matters

Our secret ingredient: culture

Our strong sustainability performance is the result of a deliberate choice we’ve made to embed sustainability into our operating system, but most importantly, it’s an outcome of our culture, which continues to drive our competitive advantage. Our purpose to boldly challenge what’s possible for a sustainable world starts with our people. We are committed to creating an inclusive, engaging and uplifting culture where our team members can thrive and make a meaningful impact through our sustainability commitments.

External recognition is also important for validation in this area.

• In 2023 Trane Technologies was named to Fortune Magazine’s World’s Most Admired Companies List for the 11th consecutive year, and we were named to the list of America’s Best Large Employers by Forbes. The list is based on employees’ survey responses on their willingness to recommend their employers to family and friends, in addition to their ratings of other companies in their industry on factors like working conditions, salary and development opportunities.
  
  
• In June, Trane Technologies was certified as U.S. Great Place to Work for the third year in a row. The certification is based entirely on feedback from employees. This year, 87% of Trane Technologies employees say it’s a great place to work compared to 57% at a typical U.S.-based company. Great Place to Work® evaluates organizations on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation.
  
  
• In July, we were named to Fast Company’s Best Places to Work for Innovators, a ranking of 100 global companies that empower employees to create new products, invent new ways of doing business or improve processes. Fast Company also recognized Trane Technologies’ passive cooling cart for street vendors as one of its 2023 World Changing Ideas. The result of Operation Possible, an employee-powered social innovation program, innovations like the cooling cart are accelerating the potential for positive change for both people and the planet.

Why it matters

External recognition matters for the same reason our ESG Report matters—the report allows key stakeholders the opportunity to give us feedback and to hold us accountable as we demonstrate actions we are taking to achieve our bold commitments. 

We can be accountable to our external stakeholders because we are accountable to ourselves. Our executive and senior leader incentive plans are linked to ESG metrics, and all salaried employee performance plans include at least one goal tied to our 2030 sustainability commitments.

We're also accountable to each other. We are guided by our Leadership Principles, and take a continuous improvement approach to our culture, focusing on our employee experience for all roles across the company.

Rankings, ratings and recognition provide external perspective of our impact and a shared framework for evaluating progress in sustainability. They signal to our investors, customers and communities that we are doing what it takes to deliver measurable results, and they show our employees that our investments set us apart from other workplace experiences.

We will continue to hold these measures up as a mirror to ensure that we maintain and evolve our foundation of trust and lead by example.