GRI G4 Material Aspect
Our Materiality Assessment indicates that Nexus Opportunities are important to Ingersoll Rand and our stakeholders. As a global provider of energy-related technology solutions, we are positioned to pursue opportunities that arise from the nexus between energy efficiency and climate change mitigation. Although energy resource demands and climate change represent great risks for society and the planet, innovation that addresses these issues is a potential growth driver for our business.
More than 90 percent of our product portfolio directly addresses demands for greater energy efficiency with lower greenhouse gas emissions in buildings, homes, industrial spaces and transport markets around the world. Across all of our brands and businesses, our growth and operational excellence strategies are focused on opportunities to simultaneously address the world’s growing demand for products that consume less energy while also accelerating the global transition to a less carbon-intensive way of life.
The Ingersoll Rand Climate Commitment is the centerpiece for these initiatives. We have pledged to significantly increase energy efficiency and reduce environmental impacts from our operations and product portfolio by 2030, with key milestones specified for 2020. The core of our Climate Commitment is a pledge to advance high-performance, low-global warming potential (GWP) solutions for our customers while reducing the carbon footprint of our facilities and fleet.
Executing on this pledge in 2015, we launched the EcoWise™ portfolio of products using next-generation, low-GWP refrigerant. In addition, we added new Trane and Thermo King products and product families to the EcoWise portfolio. These new products deliver higher energy efficiency with a smaller carbon footprint than comparable legacy products.
As a complement to this product strategy, we are pursuing Nexus Opportunities by participating in a number of voluntary global climate change initiatives. Among them is the Climate and Clean Air Coalition – a group of governments, civil society and private sector members committed to improving air quality and protecting the climate in next few decades by reducing short-lived climate pollutants (SLCPs) across sectors.
In addition, we are actively involved as a member of We Mean Business – a coalition of organizations working with business and the investment community to promote the transition to a low carbon economy. As a global leader in the use of low-GWP refrigerants in heating, air conditioning and industrial applications, Ingersoll Rand is well-positioned to help these and other visionary nonprofits promote new alternative technologies and emissions standards related to SLCPs such as hydrofluorocarbons.
We understand the budget and staff reductions, increased workloads, tighter regulations and other business constraints our Club Car customers face, and introduced a new line of 2016 Carryall vehicles to address these challenges. Available in gas, diesel and zero-emissions electric models, these small but high-performing vehicles cost less to operate and can be used in lieu of larger, less efficient and more expensive pickup trucks.
Gas models feature an electronic fuel injection engine that delivers more horsepower while requiring less fuel and maintenance than competitive vehicles. Zero-emissions electric Carryalls are built with heavy-duty controllers and motors, and can be equipped with an energy-efficient charger that issues alerts to prevent dead batteries. All Club Car Carryalls feature rustproof, corrosion-resistant aluminum frames designed to be more durable than steel frames. In addition to delivering superior performance, power, versatility and savings, they provide owners greater peace of mind with the best overall warranty in the industry.
These 2015 initiatives represent the initial phase of what promises to be a long-term strategy at Ingersoll Rand to develop technologies that address the challenges of energy efficiency and climate change on an integrated basis. Recognizing the importance of Nexus Opportunities as a material issue both to our stakeholders and our company, we will expand the scope of this strategy in the coming years.
This expanded scope is in line with two of our key business imperatives – enhancing industrial productivity and keeping transported food safe and fresh. Leveraging the expertise of our transportation refrigeration and industrial businesses, we are exploring opportunities related to the nexus between food security and energy, as well as the nexus between water conservation and energy.