Company Also Commits to Disclosing Scope 3
Emissions, Enhances Sustainability Oversight with Board
DEERFIELD, Ill., May 11, 2022
/PRNewswire/ -- 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'
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
The 2021 Caterpillar Annual Report is also available at
You can read both reports at http://caterpillar.com/reports. You
can also read the company's updated Climate & Energy Statement
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
Certain statements in this press release relate to 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 be," "will," "would,"
"expect," "anticipate," "plan," "forecast," "target," "guide,"
"project," "intend," "could," "should" or other similar words or
expressions often identify forward-looking statements. All
statements other than statements of historical fact are
forward-looking statements, including, without limitation,
statements regarding our outlook, projections, forecasts or trend
descriptions. These statements do not guarantee future performance
and speak only as of the date they are made, and we do not
undertake to update our forward-looking statements.
Caterpillar's actual results may differ materially from those
described or implied in our forward-looking statements based on a
number of factors, including, but not limited to: (i) global and
regional economic conditions and economic conditions in the
industries we serve; (ii) commodity price changes, material price
increases, fluctuations in demand for our products or significant
shortages of material; (iii) government monetary or fiscal
policies; (iv) political and economic risks, commercial instability
and events beyond our control in the countries in which we operate;
(v) international trade policies and their impact on demand for our
products and our competitive position, including the imposition of
new tariffs or changes in existing tariff rates; (vi) our ability
to develop, produce and market quality products that meet our
customers' needs; (vii) the impact of the highly competitive
environment in which we operate on our sales and pricing; (viii)
information technology security threats and computer crime; (ix)
inventory management decisions and sourcing practices of our
dealers and our OEM customers; (x) a failure to realize, or a delay
in realizing, all of the anticipated benefits of our acquisitions,
joint ventures or divestitures; (xi) union disputes or other
employee relations issues; (xii) adverse effects of unexpected
events; (xiii) disruptions or volatility in global financial
markets limiting our sources of liquidity or the liquidity of our
customers, dealers and suppliers; (xiv) failure to maintain our
credit ratings and potential resulting increases to our cost of
borrowing and adverse effects on our cost of funds, liquidity,
competitive position and access to capital markets; (xv) our
Financial Products segment's risks associated with the financial
services industry; (xvi) changes in interest rates or market
liquidity conditions; (xvii) an increase in delinquencies,
repossessions or net losses of Cat Financial's customers; (xviii)
currency fluctuations; (xix) our or Cat Financial's compliance with
financial and other restrictive covenants in debt agreements; (xx)
increased pension plan funding obligations; (xxi) alleged or actual
violations of trade or anti-corruption laws and regulations; (xxii)
additional tax expense or exposure, including the impact of U.S.
tax reform; (xxiii) significant legal proceedings, claims, lawsuits
or government investigations; (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, and the overall global economic
impact of, the COVID-19 pandemic; and (xxvii) other factors
described in more detail in Caterpillar's Forms 10-Q, 10-K and
other filings with the Securities and Exchange
SOURCE Caterpillar Inc.