2022 Caterpillar Lobbying Report:
The Purpose of Engagement
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. Caterpillar’s shareholders have demonstrated interest in more transparency and a better understanding of our political engagement strategy. We value their input and diverse perspectives and are implementing a number of key changes based on shareholder feedback. Our Values in Action, governing laws and strategy for profitable growth continue to guide how we act and manage, whom we engage with, and our areas of focus.
The report 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.
Current U.S. Disclosures
Our commitment to transparency and disclosure in our advocacy activities has long been recognized. As part of that commitment, numerous voluntary disclosures and links to filings related to our political engagements are below. Additionally, we are changing the reporting threshold for U.S. trade and industry association contributions. In previous years, Caterpillar reported membership contributions of $50,000 or more annually. For 2022 we are reducing the threshold to $25,000. In 2023, we will report all U.S. trade and industry association memberships biannually. You can find this information – and the percentage of 2022 membership dues used for federal lobbying as reported by each organization – in the Lobbying Report.