News Releases

NEW YORK, April 3, 2022 – On the heels of launching their first-ever Environmental, Social, Governance report, “Our Journey to Revolutionize Impact,” the Neiman Marcus Group is advancing their sustainability journey even further – installing two, 500-ton water-cooled Trane® chillers at their iconic Bergdorf Goodman’s Women’s Store, located in the heart of New York City’s famed retail district.

Implemented in partnership with Trane® by Trane Technologies, a global climate innovator, this environmentally-friendly makeover of the historic, 94-year-old building utilizes innovative, energy efficient, decarbonizing technology – enabling the retailer’s elimination of natural gas use and electrification, transition to renewable energy use and carbon footprint reduction.

The move will also help contribute to New York City’s goal of reaching net-zero greenhouse gas emissions by 2050, while keeping shoppers cool and comfortable.

Collaboration

• The Neiman Marcus Group has committed to 100% renewable energy use by 2030, and are working with Trane® by Trane Technologies to operationalize their decarbonization plans through capital and operating investments in four key areas: renewable energy, electrification, energy efficiency and refrigerant management.
• As the Neiman Marcus Group works to reduce Scope 1 (direct) and 2 (indirect) emissions across their real estate portfolio, including the flagship Bergdorf Goodman Women’s Store in New York City, improvements are also being made to their stores in Dallas, Austin, San Francisco, Troy, Michigan, Pinnacle Point, Texas, Sunrise, Florida and more.
• These improvements include upgrades to buildings’ automation systems, rooftop units, LED lighting and other energy conserving fixtures, and the introduction of improved air quality technology.

Key Figures

• The Bergdorf Goodman Women’s Store project replaces the building’s outdated, inefficient HVAC equipment with two 500-ton, water cooled, energy efficient Trane® chillers – with next-generation, low GWP refrigerant. The building has also been upgraded with Trane controls, optimizing the on-site chiller plant to better manage the system’s run time.
• Additionally, the installation of these chillers will result in:
• an annual reduction of 642 metric tons of carbon – equivalent to the greenhouse gas emissions from 138 gasoline-powered passenger vehicles driven for one year
• nearly $61,000 in annual energy cost savings
• the elimination of natural gas use in the facility, made especially noteworthy when considering:
  • in April 2021 the NYMEX natural gas price was $2.854/MMBtu, compared to $5.336/MMBtu in April 2022 – a nearly 2x increase. Natural gas pricing is rising quickly, increasing savings for the Neiman Marcus Group even more significantly, and mitigating their price risk.

Trane Technologies Sustainability Commitments

• 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.
• Managing and reducing energy use for positive environmental impacts has been a long-standing priority for Trane Technologies. Between 2013 and 2020, we halved our global operational carbon emissions and increased energy efficiency by 27%.
• We have also set bold 2030 Sustainability Commitments for ourselves and our customers.
• These commitments include achieving carbon neutral operations across our global footprint, a 10% absolute energy reduction, zero waste to landfills and net positive water use.
• 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. Launched in 2019, the Gigaton Challenge is the first in the manufacturing industry to have its targets verified by the Science-Based Targets Initiative, and one of only 47 companies to be verified twice

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 information, please 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.