There's a need for bold, wide-reaching sustainability action from companies and entire industries, and the urgency to act grows with each passing day. That's why we've made one of the largest science-based climate commitments to tackle climate change and give our customers a clear path to significantly decarbonize in this critical decade.
We're leading this movement so that others can follow and together our impact is amplified.
Customer use of our products is our largest area of opportunity to reduce carbon emissions. To match the scale of that opportunity, we set the Gigaton Challenge, the first-of-its-kind climate commitment related to customer product use of any B2B company. Through this commitment, we've set a goal to reduce one billion metric tons of greenhouse gas emissions (CO2e) from our customer's carbon footprints by 2030.
Our math shows that this reduction equates to 2% of the world's annual emissions – or, the annual emissions of Italy, France and the U.K. combined.
The Gigaton Challenge guides our mission to change the way the world heats and cools buildings and moves refrigerated cargo. Based on the make-up of our business, four main areas provide the largest opportunity for decarbonization with our customers and directs us toward this ambitious, but achievable goal.
Accelerate use of high efficiency equipment with an entire system-level approach to buildings, homes, and transport; utilizing climate management to further enhance energy efficiency, expand electrification, reduce costs, and strengthen regulatory resiliency.
Increase projects that include building envelope improvements, controls, lighting upgrades, as well as energy and maintenance services.
Increase sales of temperature-controlled transportation in developing countries in order to reduce food loss in the global cold chain.
Transition equipment ahead of new GWP regulations and encourage an increase in refrigerant reclamation through our Reclaim Program.
Beyond the Gigaton Challenge's specific goals related to customer product use, we also pursue pathways that accelerate decarbonization and improve human potential.
For us, being a leader in climate action also means taking the necessary steps to confirm our targets and strategies as verified and aligned with world-leading science and reporting frameworks. It also means that as we share more about our approach to accounting for Scope 3 product-based emissions, others can follow our example.
Every year until 2030, we will calculate the reduction in product emissions and emissions avoided through services for that year. With 2019 serving as our baseline year, our ambition is to make a significant impact as quickly as possible, with a culmative contribution of one billion metric tons of CO2e by 2030.
The potential climate crisis looms in the not-too-distant future. The concentration of greenhouse gasses in our atmosphere grows at an unchecked rate. If this trend continues unhindered, big problems lie ahead for us all. We're here to challenge what's possible in the critical decade ahead. Our landmark promise: The Gigaton Challenge. We are committed to helping our customers achieve a cumulative 1 gigaton reduction in their carbon footprint by the year 2030. And we are challenging our industry and the rest of the world to join us. How big is a gigaton? One billion metric tons of emissions. It is equivalent to the entire annual emissions of France, Italy, and the United Kingdom combined. It's a big goal, but we are optimistic and ambitious. The need for climate action has never been more urgent. Bold action has to start now to bend the curve against catastrophic global warming. Heating and cooling buildings, as well as transporting refrigerated goods, contributes almost to one fourth of the total global carbon emissions. To push this curve down, our solutions help reduce the overall energy required to power the critical infrastructure our world depends on. Through innovation, we are advancing technologies to expedite the transition to a cleaner, safer, and healthier energy production future. We've deployed low-global warming potential refrigerants and are accelerating clean technologies to address these trends ahead of regulations. With low footprint and connected transport solutions, we reduce loss in the cold chain ensuring precious resources like food and medicine make it to their destinations and people who need it. Our customers trust us to help them build safer, more resilient, and efficient operations. We know we can meet the call while also providing positive outcomes for the environment. Sustainability is at the center of our business and we are standing at the forefront of a movement to solve global climate crisis. We are proud to be Trane Technologies.
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