Ingersoll-Rand plc, a pioneer in creating comfortable, sustainable and efficient environments, has been named one of the ‘World’s Most Admired Companies’ by Fortune for the eighth consecutive year. “It’s an honour to be recognised once again as one of the world’s most admired companies,” said Michael W. Lamach, chairman and chief executive officer of Ingersoll Rand and of the future Trane Technologies.
“Our dedicated employees around the globe are the driving force behind our winning culture and success. With sustainability embedded in all we do, we have a responsibility to challenge what’s possible. That includes enhancing opportunities for all in our workplace and communities, and innovating for a more sustainable world.”
Quality of management and products
The World’s Most Admired Companies list is the definitive report card on corporate reputation
Developed annually by FORTUNE Magazine and the Korn Ferry Hay Group, the World’s Most Admired Companies list is the definitive report card on corporate reputation. To determine the best-regarded companies in 52 industries, Korn Ferry asked executives, directors, and analysts to rate enterprises in their own industry on nine criteria, from investment value and quality of management and products to social responsibility and ability to attract talent.
In April 2019, Ingersoll Rand announced that it would spin off and merge its Industrial segment with Gardner Denver to create a global industrial leader, expected to be called Ingersoll Rand. The remaining company, a global climate innovator, will be named Trane Technologies and is expected to trade on the New York Stock Exchange under the ticker ‘TT.’ The transaction is expected to close in early 2020.
Sustainable solutions for buildings
Through its strategic brands, Trane® and Thermo King®, and portfolio of climate-focused innovations, Trane Technologies will create efficient and sustainable solutions for buildings, homes and transportation.
Ingersoll Rand was the first industrial company to announce its 2030 ESG Commitments upon accepting the World Environment Center's 35th Annual Gold Medal for International Corporate Achievement in Sustainable Development in May 2019.
These commitments will be pursued by Trane Technologies and include:
- The Gigaton Challenge: Meet the challenge of climate change including reducing customer carbon footprint from buildings, homes and transportation by one gigaton CO2e. This is the largest customer climate commitment made by any business-to-business company and is equivalent to approximately 2% of the world’s annual emissions.
- Leading by Example: Transform its supply chain and operations to have a restorative impact on the environment including achieving carbon neutral operations and giving back more water than it uses in water-stressed areas.
- Opportunity for All: Strengthen economic mobility and bolster quality of life including gender parity in leadership roles, a workforce reflective of its community populations, maintaining livable market-competitive wages and broadening community access to cooling comfort, housing and food.