SWORDS, Ireland — Ingersoll Rand was named to Corporate Responsibility (CR) Magazine’s annual 100 Best Corporate Citizens List for the third consecutive year.
The company is named to the list based on its disclosure and performance in seven key areas: climate change, employee relations, environmental, financial, governance, human rights, and philanthropy.
“Ingersoll Rand’s placement on the 2016 100 Best Corporate Citizens List demonstrates that our formula is working well and further underscores the strength of our strategy, innovation and the commitment of our employees to help our customers meet their goals and make the world a better place to live,” said Gary Michel, senior vice president and president of Residential Heating, Ventilation and Air Conditioning at Ingersoll Rand. “We are pleased to be recognized for our transparency and responsible business practices and will continue to work tirelessly to solidify our position as a leader in global corporate citizenship.”
The 100 Best Corporate Citizens List was first published in 1999 in Business Ethics Magazine, and has been managed by CR Magazine since 2007. To compile the list, every company in the Russell 1000, the highest ranked stocks in the Russell 3000 Index of publicly held U.S. companies, is ranked according to 260 data points. The methodology for generating the list is governed by the Ratings and Rankings Thought Leadership Council of the Corporate Responsibility Association (CRA).
“CR Magazine’s 100 Best Corporate Citizens is the only ranking that doesn’t rely on self-reporting,” said Elliot Clark, CEO of CR Magazine. “Each year, we measure the most transparent companies who report on their responsible practices. We congratulate those honored on this year’s 100 Best Corporate Citizens List for their commitment to corporate responsibility.”
Ingersoll Rand made a Climate Commitment to reduce greenhouse gas (GHG) emissions from its products and operations by 2030. The Ingersoll Rand Climate Commitment pledged to: cut the refrigerant GHG footprint of its products by 50 percent by 2020 and incorporate lower global warming potential (GWP) alternatives across its portfolio by 2030; invest $500 million in product-related research and development over the next five years to fund the long-term reduction of GHG emissions; and reduce company operations-related GHG emissions by 35 percent by 2020.
To date, the company’s Climate Commitment has supported the avoidance of approximately 2 million metric tons of CO2e globally, which is the equivalent of avoiding annual CO2 emissions from energy used in more than 270,000 homes or more than 2.1 billion pounds of coal burned. By 2030, the company expects to reduce its carbon footprint by 50 million metric tons.