Ingersoll Rand report points to new water and carbon goals
Ingersoll Rand Inc.'s newly released 2023 Sustainability Report, “Leading Sustainably through Execution” details the company’s commitment, action, and accomplishments related to a more sustainable future.
Sustainability is a key component of Ingersoll Rand’s purpose of Making Life Better. The company’s Lead Sustainably strategic imperative focuses on two main areas: Grow Sustainably and Operate Sustainably.
“We continue to grow and operate sustainably by developing innovative and sustainable products and services that deliver immediate value to our customers through efficiency, circularity, and safety while improving our own operations,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “Our dedication to Leading Sustainably demonstrates our commitment to Making Life Better and I am excited about what we can achieve together in 2024 and beyond.”
In 2023, Ingersoll Rand achieved measurable progress against its sustainability goals, including:
Grow Sustainably:
- Employing a Design for Sustainability (DfS) process for all new product development, with 80 new innovative products launched in 2023.
- Offering a portfolio of products in which 66% feature sustainable attributes.
- Anticipating products with sustainable attributes will account for more than 25% of our total revenue by 2030.
- Continuing to support customers in high-growth, sustainable end markets such as clean energy, food, life sciences, and water.
Operate Sustainably:
- Prioritizing employee safety and surpassing the industry average by 73%, with a safety total recordable incident rate approaching world-class.
- Upholding our commitment to employee ownership by granting equity to more than 1,800 employees through our Ownership Works program, growing the total number of employees who received grants to more than 23,000 since May 12, 2017.
- Powering 45 sites worldwide with renewable energy through the use of solar panels and green energy contracts.
- Achieving our water reduction goal seven years ahead of our 2030 target.
- Being named to the “A List” by CDP (formerly the Carbon Disclosure Project) and included on the Dow Jones Sustainability Indices (DJSI)3, among other awards for leadership in sustainability practices and results.
Looking ahead, the company has set two ambitious new goals to accelerate even further progress for customers and within its own operations:
- New operational goal to reduce absolute water usage by 30% in water-stressed sites by 2030.
- By 2040, helping Ingersoll Rand's customers reduce or avoid on1 billion metric tons carbon dioxide equivalent (CO2e) in their Scope 2 emissions through the use of our products and services.
“As we continue to innovate climate solutions through our products and services, we believe that we are able to better provide the answers our customers need to reach their decarbonization goals,” added Reynal.
The full report is available here.
INDUSTRIAL SUPPLY MAGAZINE
The July/August issue of Industrial Supply magazine features an in-depth cover story about Singer Industrial. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Rachael Radford, as well as interviews with numerous product and distribution industry experts.
