Ingersoll Rand investing in cutting emissions

NEW YORK (AP) — Ingersoll Rand said Monday it will spend $500 million on product-related research and development over the next five years in its effort to cut the greenhouse gas footprint of its customers.

The company based in Swords, Ireland, makes air-conditioning systems, parts and other products. Along with the research and development investment, Ingersoll Rand said it wants to halve the greenhouse gas refrigerant footprint of its products for customers by 2020 and continue working on new, more energy-efficient designs through 2030. It also wants to cut the greenhouse gas footprint of its office buildings, manufacturing facilities and fleet by 35 percent by 2020.

Ingersoll Rand PLC said CEO Michael Lamach will speak at the United Nations Climate Summit this week, as well as at the Clinton Global Initiative's annual meeting.

The U.N. summit will begin Tuesday, and corporations, insurance companies and activists are pushing governments to find ways to discourage pollution by making it more costly for businesses and citizens to pollute.