Energy efficiency remains integral to our global portfolio innovation efforts. To deliver on growth with a focus on innovation, in 2013 we expanded upon our efforts to understand and capture the full spectrum of our product and service impacts of products by incorporating life cycle assessments (LCAs), customer opportunity assessment, resource consumption, and sustainability risk analysis (including emerging regulations) as part of our new product development process (IRPDP).
We are actively engaged with policymakers to bring solutions to topics that are material to our business. Energy efficiency and refrigerant policy are two areas where the company is most active. Ingersoll Rand supports cost effective policies that facilitate market transition to more energy-efficient technologies. We support strong energy efficiency requirements for new and existing construction and are working with governments in the United States, Canada, Mexico, European Union, China and India to facilitate adoption and enforcement of such programs.
We actively participate in international forums, such as the United Nations Framework Convention on Climate Change and the Montreal Protocol, to help create an organized approach to global refrigerant transitions. We are also working proactively with government agencies and refrigerant suppliers to help identify alternatives and facilitate a practical transition that reduces greenhouse gas (GHG) emissions as early as possible.
For example, we are engaged with government agencies and refrigerant suppliers in shaping a global transition to next-generation refrigerants with low global warming potential (GWP). With our Climate Commitment, the introduction of the Ingersoll Rand EcoWise portfolio, and our plan to introduce new high-performance chillers and retrofit options with alternatives to R-123 refrigerant by 2018, we are positioned as leaders in this important effort.
We are working proactively with leading suppliers to develop and test various long-term alternatives to the traditional R-123 refrigerant, and numerous next-generation, low-GWP solutions are emerging. Our key objective is to offer Ingersoll Rand customers the widest possible range of options. We continue to evaluate the available alternatives and timing for North America and other markets to ensure that we deliver value to customers and that we have a strong service organization and supply chain in place to support their transition.
Regulatory Compliance (G4: Compliance)
Ingersoll Rand is committed to operating in a way that safeguards our people and protects the environment. We realize that environmental impact, climate change, and the health and safety of our employees and communities are among our most important sustainability focus areas. Our ongoing commitment to safety and sustainability is embedded in our business practices and reflects our belief that our long-term success will be measured not only by financial performance, but also by a continued focus on good corporate citizenship for our customers, employees, suppliers, shareholders and the communities where we live and work.
To achieve a zero injury and incident culture, and to meet our environmental goals, we are committed to integrating sound Environmental, Health and Safety (EHS) practices into our everyday activities with our stakeholders. From a regulatory authority compliance perspective, Ingersoll Rand:
- Complies with or exceeds requirements of global, national, state and local statutes, regulations and standards which protect the environment, human health and safety. In all cases, whether or not applicable laws and regulations exist, we will apply sound EHS management practices.
- Conducts regular internal and third-party audits to verify compliance with EHS regulatory requirements and company standards.
- Monitors emerging issues and keeps abreast of regulatory changes and technological innovations.
Public Policy (G4: Public Policy)
Ingersoll Rand provides refrigeration, cooling and air conditioning solutions for our customers globally. Therefore, we take responsibility for managing materials in a manner that protects our environment, employees, customers and communities. Some refrigerants used in Ingersoll Rand products are considered ozone-depleting substances and, although we have strict guidance around handling these materials, leaks and spills can result in emissions as well as other environmental and safety hazards.