IRVING,
Texas, Feb. 3, 2023 /PRNewswire/ -- Caterpillar
Inc. (NYSE: CAT) has released The Purpose of Engagement, the
company's first Lobbying Report. The inaugural report details how
and why Caterpillar participates in the public policy process,
advocating for a range of issues that advance the company's
strategy and purpose while providing value to customers,
shareholders, employees and other stakeholders.
"Our advocacy efforts and political engagements align with our
Values in Action, governing laws and our enterprise strategy for
long-term profitable growth," said Caterpillar Chairman and CEO
Jim Umpleby. "Our advocacy is
demonstrated through our support of policies that allow us to help
our customers build a better, more sustainable world."
The report, which the company plans to issue annually, provides
greater transparency and disclosure of the company's U.S. political
engagement strategy, including a description of the governance
oversight and management of these activities. It also outlines
climate lobbying efforts focused on supporting Caterpillar's
customers during the energy transition, Caterpillar's relationships
with U.S. trade and industry associations, employee engagement in
advocacy initiatives, and Caterpillar Inc. Political Action
Committee governance. Numerous disclosures related to political
engagements, including U.S. trade and industry association
memberships, lobbying and contributions, are also provided.
All Caterpillar company reports can be found at
caterpillar.com/reports.
About Caterpillar
With 2022 sales and
revenues of $59.4 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/en/news/social-media.html.
Forward-Looking Statements
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
Commission.
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SOURCE Caterpillar Inc.