New goals centered on climate, environment and safety
May 11, 2021
FOR IMMEDIATE RELEASE
DEERFIELD, Ill. – Caterpillar Inc. (NYSE: CAT) illustrates how it continues to help its customers build a better, more sustainable world in its 2020 Sustainability Report published today. In addition to highlighting the company’s progress through 2020, the report introduces Caterpillar’s new sustainability goals to achieve by 2030.
“Caterpillar is well-positioned to continue improving the quality of the environment and communities by helping our customers fulfill society’s basic needs such as shelter, clean water, education and reliable energy, in a sustainable way,” said Caterpillar Chairman and CEO Jim Umpleby. “We are demonstrating our commitment to a reduced-carbon future in many ways, including through our significant progress in reducing greenhouse gas (GHG) emissions from our operations and our continued investment in new products, technologies and services that help customers achieve their climate-related objectives as they build a better, more sustainable world.”
Caterpillar’s seven new 2030 sustainability goals will enhance the company’s performance and impact and are focused on ESG topics within its own operations, as well as product stewardship in support of its customers’ sustainability goals. Five are centered on climate and the environment, and two focus on employee and customer safety.
- Employee Health & Safety: We aspire to prevent all injuries and further our industry-leading safety results by reducing recordable injury frequency (RIF) by 50% from 2018 to 2030.
- Operations Energy & Emissions: We have set a science-based Scope 1 and 2 goal to reduce absolute greenhouse gas emissions from our operations by 30% from 2018 to 2030.
- Operations Water: Implement water management strategies at 100% of facilities located in water high-risk areas by 2030.
- Operations Waste: Reduce landfill intensity by 50% from 2018 to 2030.
- Product Emissions & Energy Efficiency: 100% of Caterpillar’s new products through 2030 will be more sustainable than the previous generation through collaborating with customers, reduced waste, improved design for rebuild/remanufacturing, lower emissions or improved efficiency.
- Remanufacturing: Increase sales and revenues from remanufacturing offerings by 25% from 2018 to 2030.
- Customer Safety: Provide leadership in the safety of people who work in, on and around our products.
The 2020 Sustainability Report, prepared in alignment with Sustainability Accounting Standards Board (SASB) criteria, underscores how Caterpillar provides value to customers by developing innovative products and services to help them meet their ESG objectives. As we move beyond our 2020 goals, the report highlights progress, including:
- 93% reduction in recordable injury frequency (RIF) since 2003, including delivering the best recordable injury frequency safety performance on record two years in a row (2019 and 2020) while providing essential products and services;
- 51% reduction in absolute greenhouse gas emissions from 2006 baseline;
- 43% reduction in absolute water consumption from 2006 baseline; and
- 33% of annual aggregate electrical energy needs sourced with alternative and renewable sources.