September 25, 2014
Global Government & Corporate Affairs
FOR IMMEDIATE RELEASE
Caterpillar Invests $2.5 Million to End Extreme Poverty
The Global Poverty Project will help bring access to sanitation and education to millions of people
NEW YORK, NY – Continuing its efforts to alleviate poverty worldwide, Caterpillar Inc. (NYSE: CAT) and the Caterpillar Foundation are making a $2.5 million investment in The Global Poverty Project (GPP). The investment will support growing the Global Citizen grassroots movement around the world to end extreme poverty by 2030.
“When we can put people on the path to prosperity, it gives them opportunities for education, jobs and ultimately economic growth,” said Caterpillar Foundation President Michele Sullivan. “Our investment with The Global Poverty Project will help people fulfill their potential, lifting themselves and their communities out of poverty. I’ve seen firsthand how these investments can impact lives and really make a difference. This investment will help change lives.”
The Caterpillar Foundation investment will support advocacy and public policy work around the world to enable entrepreneurship, especially for women, by removing barriers caused by poor and inequitable access to sanitation – such as places to hand wash or use the toilet – and lack of access to basic education. The Global Poverty Project estimates universal sanitation would improve the entrepreneurial potential of women by freeing up more than 200 million hours for women and girls each day, enabling them to achieve an education, have time for paid employment or run their own small enterprises. This would return an estimated $220 billion to the global economy annually. The investment will also support universal quality primary education for the 31 million girls who currently go without school. It will help them achieve literacy, and enable them to access higher level academic and vocational education.
“When an organized, critical mass of individuals is equipped to take meaningful action, we can change practices that keep people in extreme poverty,” said Hugh Evans, CEO of The Global Poverty Project. “Having a company like Caterpillar involved can scale our work in a way we never imagined.”
The Global Poverty Project aims to raise awareness and inspire action on the issue of extreme poverty worldwide at the grassroots level. One way The Global Poverty Project does this is through its cornerstone event, the annual Global Citizen Festival, held this year on September 27 in New York City’s Central Park. The Festival is a free-ticketed concert. Music fans and activists win tickets by taking “actions” to end extreme poverty on GlobalCitizen.org. Caterpillar is sponsoring the festival, while Cat® generator sets will provide power. This year, more than 48,000 tickets were given to Global Citizens to attend to the Festival.
About Caterpillar Foundation:
Caterpillar Inc. supports the philanthropic efforts of the Caterpillar Foundation. Founded in 1952, the Caterpillar Foundation has contributed more than $550 million to help make sustainable progress possible around the world by providing program support in the areas of environmental sustainability, access to education and basic human needs. To learn more about the global impact of the Caterpillar Foundation, please visit www.caterpillar.com/foundation.
For nearly 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2013 sales and revenues of $55.656 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments - Resource Industries, Construction Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.