We asked George Moubayed, Chief Sustainability & Strategy Officer, to reflect on 2024 and tell us more about how sustainability is integrated into Caterpillar’s strategy.
Can you tell us a bit more about how Caterpillar is supporting its customers as they work to achieve their own sustainability goals?
We’ve developed a suite of solutions to meet our customers where they are — whether they’re just getting started with their sustainability journey or already well on their way. Each customer’s trajectory is unique based on their site, application and industry, and we provide a range of solutions to help lower their total cost of ownership and to meet their sustainability objectives.
Our approach goes beyond just delivering best-in-class products; our engineers work closely with customers, providing the tools, support and expertise to develop and launch these innovations. From high-efficiency hybrid to fully electric drivetrain and fuel-flexible products, we’re innovating for our customers. Our integrated, site-level solutions in our expanded portfolio are designed to support today’s evolving jobsite needs. This makes us confident in our ability to also help customers reach their individual sustainability-related objectives.
Looking back at 2024, tell us about some of Caterpillar’s achievements on the road to reaching its 2030 sustainability goals.
Our company remains committed to achieving our 2030 sustainability goals and has made notable progress, including making all our products released in 2024 more sustainable than their previous generation. These goals encompass not only the sustainability benefits of our products, but also our goals related to our operations, employee health and safety, customer safety and remanufacturing.
We are proud to report we’ve made a 34% reduction in absolute greenhouse gas emissions from our operations, 61% of our facilities located in water high-risk areas have a water management strategy implemented, and we’ve increased our sales and revenues from remanufactured offerings by 42% since 2018.
Details on the innovative products and solutions helping our customers succeed and additional details on our progress toward our 2030 goals are later in this report.
How is Caterpillar helping to support customers during the increase in global energy demand?
Importantly, we don’t have a one-size-fits-all approach, and we draw upon our diverse products, services and technologies to meet our customer needs.
In May 2024, we also launched our Pathways to Sustainability program, a four-year training initiative designed to prepare our customers for their changing and evolving energy landscape, working hand in glove with Caterpillar engineers. All these initiatives aim to provide our customers with solutions to help build a better, more sustainable world.
This year and every year, we at Caterpillar have listened to our customers and built our business strategy around supporting their needs. I am very proud of our global team for supporting our customers to achieve their goals.
