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DEERFIELD, Ill., May 11, 2021 / PRNewswire / – Caterpillar Inc. (NYSE: CAT) shows how it continues to help its customers build a better, more sustainable world in its 2020 Sustainability Report released today. The report not only highlights the company’s progress through 2020, but also introduces Caterpillar’s new sustainability goals to be met by 2030.
“Caterpillar is well positioned to continue to improve the quality of the environment and communities by helping our customers meet basic society needs such as housing, clean water, education and reliable energy in a sustainable manner,” said the Chairman and CEO from Caterpillar Jim Umpleby. “We show our commitment to a lower carbon future in many ways, including our significant advances in reducing greenhouse gas emissions from our operations and our continued investment in new products, technologies and services that help customers achieve their climate.” related goals in building a better, more sustainable world. ”
Caterpillar’s seven new sustainability goals for 2030 will improve the company’s performance and impact, and focus on ESG issues within its operations and product stewardship to support its customers’ sustainability goals. Five focus on the climate and the environment, two on the safety of employees and customers.
- Employee Health and Safety: We are committed to preventing all injuries and improving our industry-leading safety scores by reducing Reportable Injury Frequency (RIF) by 50% from 2018 to 2030.
- Operations Energy & Emissions: We have set ourselves a scientifically sound target for Scope 1 and 2 to reduce the absolute greenhouse gas emissions from our operations by 30% between 2018 and 2030.
- Operation water: Implementation of water management strategies in 100% of the facilities in areas with high water risk by 2030.
- Operational waste: Reduce landfill intensity by 50% from 2018 to 2030.
- Product Emissions and Energy Efficiency: 100% of Caterpillar’s new products will be more sustainable than the previous generation by 2030 by working with customers, reducing waste, improving rebuild / remanufacturing design, lowering emissions or improving efficiency.
- Remanufacturing: Increase sales and revenue from remanufacturing offerings by 25% from 2018 to 2030.
- Customer Safety: Provide a leadership role in the safety of those who work in, on and around our products.
The 2020 Sustainability Report, prepared in accordance with the criteria of the Sustainability Accounting Standards Board (SASB), highlights how Caterpillar brings value to its customers by developing innovative products and services to help them achieve their ESG goals . If we go beyond our 2020 targets, the report highlights progress, including:
- Reduce Reportable Injury Frequency (RIF) by 93% since 2003, including achieving the best reportable breach safety performance for two consecutive years (2019 and 2020) while delivering essential products and services;
- Reduction of absolute greenhouse gas emissions by 51% compared to 2006;
- Reduction in absolute water consumption by 43% compared to the 2006 baseline; and
- 33% of the total annual electrical energy requirement is obtained from alternative and renewable sources.
The Caterpillar 2020 Annual Report is also available. It shows how the company’s corporate strategy for long-term profitable growth has positioned its team to deliver the essential products and services that enable its customers to support a world in need. You can read both reports at https://reports.caterpillar.com/.
About Caterpillar
With 2020 sales and sales of $ 41.7 billionCaterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. We have been driving sustainable progress since 1925 and helping customers build a better world through innovative products and services. During the entire product life cycle, we offer services based on the latest technology and decades of product expertise. These products and services, supported by our global dealer network, provide exceptional value in helping our customers succeed. We operate on every continent, mainly in three main segments – construction, raw materials, and energy and transportation – and offer 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.
Forward-Looking Statements
Certain statements in this press release address future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “estimate,” “will,” “will,” “would,” ” expect, “anticipate,” “plan,” “forecast,” “aim,” “direct,” “project,” “intend,” “may,” “should” or other similar words or expressions often identify forward-looking statements Statements other than historical facts are forward-looking statements, including, without limitation, statements regarding our prospects, projections, projections or trends. These statements do not guarantee future performance and speak only as of the date of their publication. We undertake no obligation to update our forward-looking statements.
Caterpillar’s actual results could differ materially from those described or implied in our forward-looking statements, which are based on a number of factors including, but not limited to: (i) global and regional economic conditions and economic conditions in the industries in which that we operate; (ii) changes in raw material prices, material price increases, fluctuations in demand for our products or significant material shortages; (iii) government monetary or fiscal policies; (iv) political and economic risks, economic instability and events beyond our control in the countries in which we operate; (v) international trade policies and their effects on the demand for our products and our competitive position, including the introduction of new tariffs or changes to existing tariff rates; (vi) our ability to design, manufacture and market quality products that meet the needs of our customers; (vii) the impact of the highly competitive environment in which we operate on sales and pricing; (viii) information technology security threats and computer crime; (ix) the inventory management decisions and procurement practices of our dealers and our OEM customers; (x) failure to realize or delay in realizing any anticipated benefit from our acquisitions, joint ventures, or disposals; (xi) trade union disputes or other employee relations issues; (xii) the adverse effects of unexpected events; (xiii) disruptions or volatility in global financial markets that limit our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xiv) non-compliance with our credit ratings and the potential resulting increases in our cost of borrowing and adversely affecting our financing costs, liquidity, competitive position and access to capital markets; (xv) the risks associated with the financial services industry in our Financial Products segment; (xvi) changes in interest rates or market liquidity conditions; (xvii) an increase in arrears, redemptions or net losses by Cat Financial’s customers; (xviii) currency fluctuations; (xix) our or Cat Financial’s compliance with financial and other restrictive requirements in debt agreements; (xx) increased funding obligations for pension plans; (xxi) alleged or actual violations of trade or anti-corruption laws and regulations; (xxii) additional tax expense or risk, including the effects of US tax reform; (xxiii) significant legal proceeding, claim, lawsuit, or government investigation; (xxiv) new regulations or changes in financial services regulations; (xxv) compliance with environmental laws and regulations; (xxvi) the duration and geographic spread of business disruptions caused by the COVID-19 pandemic and the macroeconomic impact; and (xxvii) other factors more fully described on Caterpillar Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.
SOURCE Caterpillar Inc.
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