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Ingersoll Rand Inc. (NYSE: IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for our employees, customers, planet and shareholders. Customers lean on us for our technology-driven excellence in mission-critical flow creation and industrial solutions across 50+ brands where our products and services excel in the most complex conditions. Our employees develop customers for life through their daily commitment to expertise, productivity and efficiency.
We introduced “Lead Sustainably” as our updated strategic imperative to acknowledge that sustainability for us is about both growth and operations. Sustainability is one of the key megatrends that we believe will help drive our future growth as we (i) supply our customers with energy efficient products that help them achieve their Scope 1 and 2 greenhouse gas (GHG) reduction goals and (ii) focus our commercial efforts on high-growth sustainable end markets.
We have also made great strides with respect to our own operations, and we are firmly on track to meet our 2030 goals for GHG emissions, water, waste, and safety.
Environmental results
- GHG reduction of 17,233 metric tons (16.3%), representing 27% of our 2030 goal
- Water: We realized a reduction of 8.7 million gallons (6.1%) from prior year, representing 36% of our 2030 goal of 17% reduction from the 2020 baseline.
- Waste: 25 additional sites (13% of our total) achieved zero waste to landfill, bringing our total to 65 and achieving 68% of our 2030 goal from the 2020 baseline.
- Safety: Our Total Recordable Incident Rate (TRIR) was 0.69 at the end of 2022, which is 71% better than the Industrial Machinery Manufacturing average based on U.S. Department of Labor data.
- 14 locations with solar panels
- Renewable electricity at 19 manufacturing locations
- All Scope 3 categories identified and measured
Product development and innovation
- 100% of new product development programs utilize our Design for Sustainability (DfS) process innovating products with efficiency, circularity and safety
Climate strategy
- The TCFD framework has been incorporated into the overall Enterprise Risk Management (ERM) process and is our strategy to assess and manage climate-specific risks and opportunities.
- Commitment to SBTi validation process
Supply chain
- Executed a strategy to conduct a systematic assessment of our supply chains globally to assess risk
- Achieved 95+% enrollment of our critical Tier I suppliers into this program.
Our Lead sustainably strategic imperative has become an essential part of our Growth and Operations.
Grow Sustainably encompasses two clear and compelling growth paths:
Products and Services: Innovative development of intrinsically sustainable products that deliver efficiency, circularity and safety to customers across all markets and regions. In 2022, we introduced our Design for Sustainability process for new product introductions. This helped us launch new products that continue to meet our customers’ efficiency, circularity and safety needs.
Markets: Supporting customers in high-growth, sustainable markets such as food, life science, water and clean energy. Our distinctive advantage lies in our vertical strategy, which focuses
on promising growth markets with significant potential for value creation
and enduring resilience throughout economic cycles.
our ability to proactively identify and acquire companies operatingwithin these market ecosystems further strengthens our position for success.
Operate Sustainably reflects our unwavering, authentic commitment to run our business in ways to support our mission of Making Life Better for all of our stakeholders. Our focus on environmental stewardship has led us to implement innovative solutions that reduce our carbon footprint and conserve valuable
resources. We have embraced circularity in our operations, striving to minimize waste and maximize the efficient use of materials throughout their lifecycle.
Ingersoll Rand has taken a proactive approach to drive efficiencies and promote sustainability by establishing Green Excellence Teams. These teams have been carefully assembled to focus on areas crucial to achieving environmental excellence within the organization. We have successfully launched 39 GreenX Teams around the world and continue to drive environmental results which most recently have been recognized by both DJSI and CDP rating agencies.
Nomination Title: Ingersoll Rand Company's Business Model
