Climate & Energy Statement
Our Commitment
- Caterpillar shares the concerns of governments and the public about the risks of climate change and supports global efforts to mitigate it.
- We support the goals of the Paris Agreement to limit global temperature rise and are committed to contributing to a reduced-carbon future.
- We have a legacy of providing products and services that continually improve the quality of life and the environment by fulfilling society’s need for infrastructure including shelter, clean water, transportation and reliable energy – in a sustainable way.
- Caterpillar demonstrates our commitment in many ways, including through significant progress in reducing greenhouse gas (GHG) emissions from our operations. We also continue to invest in new products, technologies and services to help customers achieve their climate-related objectives.
- Sustainability oversight is conducted at Caterpillar’s highest levels, beginning with our board of directors. Given the importance of sustainability, the board restructured its committees, effective June 8, 2022, and created the new Sustainability and other Public Policy Committee (SPPC). Among other responsibilities, the SPPC will have oversight for climate and sustainability.
- Our sustainability governance also includes our Chief Executive Officer (CEO) and all Executive Officers who report directly to the CEO, including the Chief Sustainability & Strategy Officer.
- We believe the energy transition represents a significant opportunity for long-term profitable growth, leading us to add sustainability as a focus area of our enterprise strategy.
Our Performance and Progress
- Caterpillar establishes and reports progress on meaningful environmental, social and governance (ESG) goals.
- We introduced our first sustainability goals in 2006, setting operations and product stewardship targets to be achieved by 2020. In 2013, we refined our goals to include a 50% reduction in Scope 1 and 2 GHG emissions intensity from 2006 to 2020. We exceeded the target by achieving a 51% reduction.
- In 2021, we set seven new sustainability goals for 2030. Among them is a new goal to further reduce absolute Scope 1 and 2 GHG emissions by 30% between 2018 and 2030. We also set a goal that 100% of our new products through 2030 will be more sustainable than the previous generation.
- We will continue to be transparent about our goals, progress and innovations, and remain committed to enhancing our climate and sustainability disclosures, including in our Sustainability Report.
Our Customers’ Climate Journey
- With nearly a century of sustainable innovation, Caterpillar is uniquely positioned to address a wide range of customer needs on the rapidly evolving pathway to decarbonization and to help them build a better, more sustainable world.
- Now more than ever, our customers rely on Caterpillar to provide a diverse portfolio of products, services and solutions that lower GHG emissions, improve efficiency and productivity, and deliver energy flexibility.
- Our remanufacturing and rebuild options deliver multiple sustainability benefits. By returning components at the end of their initial serviceable lives to same-as-when-new condition, we reduce waste and minimize the need for raw material, energy and water to produce new parts.
- Stakeholders can read about several examples of sustainable product innovations and the latest list of sustainability-related announcements by clicking here.
Our Path Ahead
- In 2023, Caterpillar will provide our first-ever public disclosure of estimated Scope 3 GHG emissions data (including for Category 11 – Use of Sold Products) utilizing the Greenhouse Gas Protocol.
- Our first Task Force on Climate-related Financial Disclosure (TCFD) report will also be published in 2023.
Our Focus on Building Sustainable Communities
- The Caterpillar Foundation, the company’s philanthropic organization, is focused on innovative approaches to nature-based solutions that provide resilient, more sustainable communities that can thrive in a rapidly changing world. The Foundation partners with organizations around the globe in building basic infrastructure services, like water and energy, and restoring natural ecosystems to withstand natural disasters and environmental challenges.
