Caterpillar Updates Enterprise Strategy with Focus on Sustainability, Reports One-Year Progress on 2030 Sustainability Goals
Company Also Commits to Disclosing Scope 3 Emissions, Enhances Sustainability Oversight with Board Restructuring
May 11, 2022
FOR IMMEDIATE RELEASE
DEERFIELD, Ill. – Caterpillar Inc.’s (NYSE: CAT) 2021 Sustainability Report describes the company’s progress helping customers build a better, more sustainable world.
“Our long-standing commitment to sustainability inspires us to continue reducing greenhouse gas emissions from our operations while also developing innovative products, technologies and services to help our customers achieve their climate-related objectives,” said Caterpillar Chairman and CEO Jim Umpleby. “We’re pleased to highlight our progress as we contribute to a reduced-carbon future.”
The 2021 Sustainability Report outlines Caterpillar’s approach to environmental, social and governance (ESG) issues. The report also describes the company’s focus on sustainability as part of its strategy for long-term profitable growth.
Highlights from the report include:
- An announcement that Caterpillar will disclose estimated Scope 3 greenhouse gas emissions (GHG) beginning in 2023.
- A commitment to utilize the Task Force on Climate-Related Financial Disclosures (TCFD) framework to further enhance the company’s sustainability reporting beginning in 2023.
- Progress toward Caterpillar’s 2030 sustainability goals, as well as product stewardship in support of its customers’ climate-related objectives.
The 2021 Sustainability Report also describes the Board of Directors’ enhanced oversight of sustainability and ESG, including the creation of a new Sustainability and other Public Policy Committee as further detailed [on page 22] in the company’s proxy statement at https://www.caterpillar.com/en/investors/financial-information/proxy-statement.html.
The 2021 Caterpillar Annual Report is also available at https://www.caterpillar.com/en/investors/reports/annual-report.html. You can read both reports at caterpillar.com/reports. You can also read the company’s updated Climate & Energy Statement at https://www.caterpillar.com/en/company/sustainability/energy-climate.html.
About Caterpillar
With 2021 sales and revenues of $51.0 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we’ve been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/social-media.
