Carrier Strengthens Climate Goals with a Science-Based Net Zero Target and Expanded Decarbonization Investments

PALM BEACH GARDENS, Fla., Feb. 6, 2023 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, today announced plans to reduce its greenhouse gas (GHG) emissions in line with the Science Based Targets initiative (SBTi) to limit global warming to 1.5⁰ C. These new goals, including a net zero target, will build on Carrier's previous, ambitious 2030 Environmental, Social & Governance (ESG) goals, and further support decarbonization efforts.

Carrier is now targeting net-zero GHG emissions across its value chain by 2050, complementing its existing goal of helping its customers avoid more than 1 gigaton of GHG emissions by 2030. The company's comprehensive sustainability strategy addresses scope 1, 2 and 3 emissions, covering enterprise-wide direct and indirect emissions. Near- and long-term goals addressing Carrier's scope 1, 2, and 3 emissions will be developed and published in accordance with the SBTi validation process.

"As we continue to distinguish ourselves as a climate systems and solutions leader, we are doubling down on our own commitments for the benefit of our customers, shareowners and the planet," said David Gitlin, Chairman & CEO, Carrier. "Sustainability and ESG leadership remain at our core, and we continue to walk the talk and invest to drive decarbonization."

Carrier is also expanding its investments in support of its goal of carbon neutral operations, with a focus on renewable energy and high-quality carbon sequestration credits. Specifically:

• Deploying Carrier's onsite renewable energy strategy with the installation of a 3MW solar array system at Carrier's Shanghai campus. This will provide approximately 25% of the site's annual electricity consumption, resulting in a CO2e reduction of ~1,200 metric tons per year.

• Becoming an early investor and limited partner in the recently launched Climate Asset Management - Nature Based Carbon Fund, which targets independently validated projects to reduce or avoid the release of GHG emissions into the atmosphere. The projects focus on nature-based solutions in developing economies that aim to deliver biodiversity improvements at scale for climate resilience and community benefits.

• Participating in greening the electrical grid via acquisition of registered and certified Renewable Energy Certificates for site-specific renewable energy projects.

• Adding Carrier's Abound™ Net Zero Management digitally-enabled lifecycle sustainability solution at company facilities around the world. The application, announced earlier this month, provides building owners and managers a simple and automated approach to measure, track, view and report energy and carbon performance across their entire property portfolio in real time to help meet ESG goals.

These programs are in addition to Carrier's already established bold 2030 ESG goals, which include a commitment to invest more than $2 billion by 2030 to develop healthy, safe, sustainable and intelligent building and cold chain solutions that incorporate sustainable design principles and reduce lifecycle impacts and advance digitally enabled lifecycle solutions.

Learn more about Carrier's ESG leadership here.

About Carrier

As the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, Carrier Global Corporation is committed to making the world safer, sustainable and more comfortable for generations to come. From the beginning, we've led in inventing new technologies and entirely new industries. Today, we continue to lead because we have a world-class, diverse workforce that puts the customer at the center of everything we do. For more information, visit www.Corporate.Carrier.com or follow Carrier on social media at @Carrier.

SOURCE Carrier Global Corporation