Caterpillar Reports ESG Progress, Strategy Execution

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by KnowESG,

Caterpillar Inc.

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Image courtesy of CAT

Caterpillar Inc. has published three reports that showcase the company's dedication to environmental, social, and governance (ESG) principles. These reports highlight how Caterpillar is working to assist its customers in constructing a more sustainable world.

According to Jim Umpleby, the Chairman and CEO of Caterpillar, the company is making efforts towards a future with lower carbon emissions. This includes not only reducing greenhouse gas emissions in their own operations but also investing in a range of products, services, and solutions that assist customers in meeting their climate-related goals. Umpleby expressed his satisfaction with the company's ESG progress and the implementation of their strategy as they continue to invest in profitable growth for the future.

The Sustainability Report released by Caterpillar contains the following key highlights:

  • The company's efforts to support the energy transition and meet the growing global demand for energy through the development of sustainable products and services.

  • The release of the first-ever Task Force on Climate-related Financial Disclosure (TCFD) report adheres to the 11 recommended disclosures of the TCFD. This report provides a summary of Caterpillar's strategy to address climate-related risks and opportunities, as well as its support for customers in their own energy transitions.

  • Disclosure of Scope 3 emissions from the use of sold products.

  • Progress made towards achieving seven sustainability goals by 2030.

In addition to the highlights previously mentioned, the 2022 Sustainability Report of Caterpillar emphasises the inclusion of ESG performance as a factor in the incentive plan for executive officers. This information can be found in the company's proxy statement.

Furthermore, Caterpillar's third Diversity & Inclusion Report provides updates on the progress the company has made in creating an inclusive culture that values and respects all of its employees worldwide. The report features advancements in representation and a streamlined framework for diversity and inclusion.

The 2022 Caterpillar Annual Report highlights the company's continued execution of its strategy for long-term profitable growth, which led to one of the best years in Caterpillar's history. According to Umpleby, the excellent performance of the company is attributed to the diverse and committed global team and their dedication to serving customers.

All the reports mentioned above can be accessed on Caterpillar's official website at caterpillar.com/reports.

To view and compare company ESG Ratings and Sustainability Reports across sectors, follow our Company ESG Profiles page.

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Source: CAT

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