The Mayor of London's office has released a report saying climate change could cause up to £36 billion, or $50 billion, in damage to London per year by the 2050s, with lost working hours, business disruption, and damage to infrastructure from extreme weather likely to drag down London's gross domestic product. The report recommends that businesses adjust working hours, allow working from home, and relax dress codes, while calling on Transport for London to install air conditioning in new underground trains and find ways to keep trains and platforms cool. The Greater London Authority will prioritise protecting parks, publicising cool spaces, providing more public toilets and drinking water, and increasing shade in public areas. Mayor of London Sadiq Khan said climate change is threatening the lives of Londoners and causing hundreds of millions of pounds in economic damage, stressing the need to build cooler homes and buildings, greener and shadier communities, and infrastructure resilient to hotter weather. This summer, five heatwaves and weeks of low rainfall put pressure on the UK's public services, water systems, and infrastructure, while research in July found that the June heatwave caused £1.15 billion in damage to the English economy.
Trane Technologies Declares $1.05 Quarterly Dividend, In Line With Previous
Trane Technologies plc declared a quarterly dividend of $1.05 per share, unchanged from the prior payout. The dividend carries a forward yield of 0.88%. It is payable Dec. 31 to shareholders of record as of Dec. 4, with the ex-dividend date also set for Dec. 4.
Trane Named Climate Innovation Partner of Kroenke Sports & Entertainment
Trane, a brand of Trane Technologies, announced a new multi-year agreement with Kroenke Sports & Entertainment under which Trane will serve as a Climate Innovation partner and KSE's official HVAC and thermal management partner. The deal marks KSE's first cross-property agreement with a technology provider, building on prior work together at venues including SoFi Stadium, YouTube Theater, Hollywood Park in Los Angeles and Ball Arena in Denver. Under the partnership, Trane's energy-efficient climate systems will help KSE modernize infrastructure through ultra-low-emission heating and cooling paired with intelligent digital services aimed at reducing energy use and emissions in real time. Holly Paeper, President of Commercial HVAC Americas at Trane Technologies, said the agreement reflects joint innovation on building performance and sustainability in complex environments, while Mike Neary, Executive Vice President of Business Operations and Real Estate at KSE, called it a first-of-its-kind cross-property agreement. The partnership supports Trane Technologies' Gigaton Challenge to reduce one billion metric tons of customer carbon emissions by 2030; in 2025 the company reported a 59% reduction in operational greenhouse gas emissions since 2019 and 44% recycled content across its primary product materials.
Climate Adaptation & Water › Resilient Buildings & Retrofit ▲Demand
TT · Demand · Positive Trane signed a new multi-year agreement to be Kroenke Sports & Entertainment's official HVAC and thermal management partner, a concrete customer deal for its climate systems.
Trane Technologies Eyes Another Earnings Beat With Positive ESP
Trane Technologies is positioned to potentially extend its earnings-beat streak when it reports next, with a positive Zacks Earnings ESP of +0.43% and a Zacks Rank #3 (Hold). The manufacturer has beaten estimates in each of its last two reports, with an average surprise of 2.44%. In the most recent quarter, Trane Technologies posted earnings of $4.31 per share against the Zacks Consensus Estimate of $4.27 per share, a surprise of 0.94%. The prior quarter delivered a surprise of 3.95%, as earnings came in at $2.63 per share versus an expected $2.53 per share. Zacks research shows that stocks combining a positive Earnings ESP with a Zacks Rank #3 or better produce a positive surprise nearly 70% of the time.
Major US Securities Firm Rates Daikin Industries Neutral, Sets Target Price at 22,500 Yen
A major US securities firm on September 30 assigned Daikin Industries a Neutral (Equal-Weight) rating and set a target price of 22,500 yen. As of the previous day, September 29, the rating consensus stood at 4 (based on 10 analysts), indicating a somewhat bullish level, while the target price consensus was 25,080 yen (based on 10 analysts).
Sumitomo Mitsui Banking expands disaster-prevention loans, first in Japan to meet international standard
Sumitomo Mitsui Banking announced on the 25th that it will expand lending for corporate spending on disaster prevention and climate change measures. As natural disasters caused by climate change, such as heavy rain and floods, increase, the bank aims to support investment in flood-proofing buildings, installing emergency power sources, river improvement, cooling equipment, and developing crops suited to climate change. The bank became the first Japanese financial institution to obtain an opinion from the UK-based nonprofit Climate Bonds Initiative, which promotes such investment, stating that its sustainable finance framework conforms to international standards. This makes it easier for companies to show investors that they are working on disaster prevention and climate change measures if they receive loans through the bank's framework. It also signed a memorandum with the Climate Bonds Initiative together with SMBC Nikko Securities to share knowledge on climate-related standards and evaluation methods and expand the supply of funds to the disaster prevention field. Sumitomo Mitsui Financial Group aims to handle 50 trillion yen in sustainable finance by fiscal 2029.
8316.JP · Regulation · Positive SMBC became the first Japanese financial institution to obtain Climate Bonds Initiative conformity for its sustainable finance framework, easing disaster-prevention lending and supporting its 50 trillion yen sustainable finance target.
SPX Technologies Completes $410 Million FIS Water Acquisition
SPX Technologies announced on September 15 that it completed the acquisition of FIS Water, LLC for approximately $410 million in cash, including certain tax attributes. The acquired business is expected to generate approximately $105 million of revenue in 2026, its full-year revenue forecast, with its contribution to consolidated 2026 results reflecting the ownership period. The stated cash consideration equals approximately 3.9 times expected annual revenue. FIS Water's filtration and flow-control products have joined the HVAC segment within SPX's Cooling operations, complementing existing cooling-tower offerings, and its valves and actuators also fit the recently acquired Neptronic controls business. Management plans to update 2026 guidance, including the acquisition's impact, with third-quarter results.
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