Neiman Marcus Group and Trane® by Trane Technologies Accelerate Luxury Retailer's Decarbonization Efforts

April 22, 2022 07:00 AM Eastern Daylight Time

SWORDS, Ireland--(BUSINESS WIRE)--Global climate innovator Trane Technologies (NYSE: TT), through its strategic brand Trane®, and luxury retailer Neiman Marcus Group are collaborating to decarbonize the luxury retailer's footprint through renewable energy, electrification, energy efficiency, and refrigerant management. Leveraging recommendations from Trane's customized energy decarbonization roadmap, Neiman Marcus Group is implementing significant change through major climate commitments and upgrades at stores across the country – efforts outlined in the company's inaugural Environmental, Social, Governance (ESG) report, 'Our Journey to Revolutionize Impact.'

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Neiman Marcus Group has worked with Trane for years to help create energy-efficient, healthy, and comfortable spaces across its stores. Now, the companies are expanding their collaboration to achieve emissions reductions in line with Neiman Marcus Group's sustainability goals, beginning with a quantitative portfolio-wide analysis to strategically identify the facilities and initiatives that will deliver the most impactful outcomes for Neiman Marcus Group, shoppers, and shareholders.

With a shared vision for creating a more sustainable and equitable future, the companies have each set ambitious, science-based targets focused on carbon emissions reductions against a 2019 baseline. The Neiman Marcus Group has committed to a 50% reduction in Scope 1 (direct) and 2 (indirect) emissions across their real estate portfolio by 2025, in addition to pledging 100% renewable energy use by 2030. Trane Technologies has a longstanding history as an industry leader for sustainability, and has made bold 2030 Sustainability Commitments that include its Gigaton Challenge which aims to eliminate one gigaton – one billion metric tons – of customers' carbon emissions by 2030.

The companies recently marked a major milestone in Neiman Marcus Group's decarbonization plans with an innovative installation at the retailer's flagship Bergdorf Goodman Women's Store in New York City. The 94-year-old historic landmark received an environmentally-friendly makeover, replacing its outdated HVAC equipment with two highly efficient chillers from Trane – using next-generation, low global warming potential refrigerant and enabling the site's elimination of natural gas use effective Earth Day, April 22, 2022. The move will contribute to New York City's goal of reaching net-zero greenhouse gas emissions by 2050 while keeping shoppers cool and comfortable.

"A critical part of Neiman Marcus Group's journey to revolutionize impact is developing meaningful ESG goals, specifically around climate change. Our partnership with Trane represents the significant investment we are making across the organization to achieve these goals and decarbonize our operations," said Chris Demuth, SVP of People Services, ESG, & Belonging, Neiman Marcus Group. "This electrification project has enabled us to improve the energy efficiency of this landmark building and transition it to renewable energy so that we can do our part to move New York City and the fashion industry toward a net-zero future by 2050."

"Helping businesses achieve their sustainability and operational goals is what we do best," said Donny Simmons, president, Commercial HVAC Americas, Trane Technologies. "We're proud to play an important role in Neiman Marcus Group's journey to reduce greenhouse gas emissions and transition to 100% renewable energy by 2030. This is decarbonization in action, and we applaud Neiman Marcus and Bergdorf Goodman for taking bold steps to ensure a more sustainable world."

Through its comprehensive decarbonization program, Trane is also completing decarbonization assessments at select Neiman Marcus stores, as well as energy-efficient improvements and upgrades to building automation systems, rooftop units, LED lighting, energy-conserving fixtures, and indoor air quality technology at Neiman Marcus stores in Dallas; Austin; San Francisco; Troy, Michigan; Pinnacle Point, Texas; Sunrise, Florida, and more.

Watch Neiman Marcus Group's decarbonization in action at flagship Bergdorf Goodman Women's Store in New York City, thanks to heavy lift from Trane.

About Trane Technologies

Trane Technologies is a global climate innovator. Through our strategic brands, Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes, and transportation. We have also set bold 2030 Sustainability Commitments for ourselves and our customers. Through our Gigaton Challenge, we have committed to reducing our customers' carbon emissions by one gigaton – or, one billion metric tons – by the year 2030. For more on Trane Technologies, visit tranetechnologies.com.

About Trane

Trane – by Trane Technologies (NYSE: TT), a global climate innovator – creates comfortable, ,energy-efficient indoor environments for commercial and residential applications. For more information, please visit www.trane.com.

About The Neiman Marcus Group LLC

Neiman Marcus Group is a relationship business that leads with love in everything we do for our customers, associates, brand partners, and communities. Our legacy of innovating and our culture of Belonging guide our roadmap for Revolutionizing Luxury Experiences. As one of the largest multi-brand luxury retailers in the U.S., with the world's most desirable brand partners, we're delivering exceptional products and intelligent services, enabled by our investments in data and technology. Through the expertise of our 9,000+ associates, we deliver and scale a personalized luxury experience across our three channels of in-store, eCommerce, and remote selling. Our NMG|Way culture, powered by our people, combines individual talents into a collective strength to make life extraordinary. Our brands include Neiman Marcus, Bergdorf Goodman, Neiman Marcus Last Call, and Horchow. For more information, visit http://www.neimanmarcusgroup.com/.

About Bergdorf Goodman

A New York landmark since 1901, Bergdorf Goodman represents the global pinnacle of style, service, and modern luxury. With its rich history of showcasing leading and emerging designers, the iconic store at 5th Avenue and 58th Street—the crossroads of fashion—is a singular destination for discerning customers around the world. BG.com expands on Bergdorf Goodman's heritage, showcasing coveted collections for men and women in an unparalleled online shopping experience. Bergdorf Goodman is part of Neiman Marcus Group.