Caterpillar Inc. Releases 2024 Annual, Sustainability Reports Highlighting Customer-Focused and Sustainability Strategies

Rhea-AI Summary

Caterpillar Inc. (NYSE: CAT) has released its 2024 Annual and Sustainability Reports, highlighting the company's growth strategy and sustainability achievements. The reports showcase Caterpillar's $30 billion investment in R&D over the past 20 years and detail progress toward its 2030 sustainability goals, including GHG emissions reductions and increased sales of remanufactured products.

Key highlights include the company's focus on services, expanded offerings, operational excellence, and sustainability. Caterpillar is developing an expanded portfolio of fuel-efficient, fuel-flexible, and fully electric products to help customers meet their sustainability objectives. The 2024 Sustainability Report now incorporates Diversity & Inclusion, Lobbying, and TCFD reports into a single document for improved accessibility.

Positive

• Invested $30 billion in R&D over the past 20 years
• Strong positioning in growing markets for energy and critical minerals
• Expanding portfolio of fuel-efficient and electric products
• Progress toward 2030 sustainability goals

Negative

• None.

IRVING, Texas, May 13, 2025 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) today announced the release of its 2024 Annual and Sustainability Reports, showcasing the company's notable strides advancing the business across all segments. 

The 2024 reports underscore Caterpillar's commitment to building a better, more sustainable world, and highlight the collective efforts of global Caterpillar employees in meeting customer needs and achieving the company's goals. 

"The reports detail Caterpillar's investment of more than $30 billion in research and development over the past 20 years in best-in-class innovation," said Caterpillar CEO Joe Creed. "Our strategy for profitable growth is delivering results. With rising global demand for energy and critical minerals powering emerging technologies – alongside expanded opportunities to meet the world's infrastructure needs – we are well-positioned for what's ahead." 

Progress Toward Caterpillar's Strategy for Growth and Sustainability Goals
The 2024 reports detail Caterpillar's strategy for long-term profitable growth – focusing on services, expanded offerings, operational excellence and sustainability. They also highlight Caterpillar's ongoing progress towards its 2030 sustainability goals, including: reductions in greenhouse gas (GHG) emissions in our operations, increased sales of remanufactured products and our continued focus on employee health and safety.  

Empowering Customers
Caterpillar's success is deeply intertwined with its dedicated dealer network, valued customers and the hard work of its employees. The reports show how the company provides comprehensive solutions, including hands-on training, support, and maintenance, to help customers maximize their equipment's performance and meet their sustainability-related goals. 

"Our commitment to excellence extends beyond the execution of our strategy," said George Moubayed, chief strategy and sustainability officer. "For example, we continue to develop an expanded portfolio of increasingly fuel-efficient, fuel flexible and fully electric products that help customers achieve their sustainability-related objectives." 

Investing in Communities
Caterpillar and its employees are equally dedicated to improving the lives of others around the world through the Caterpillar Foundation. From supporting skills development and workforce readiness in communities to building sustainable infrastructure and enabling disaster preparedness, response and recovery, the 2024 reports detail the critical work being done.  

New to the 2024 Sustainability Report
The 2024 Sustainability Report integrates Caterpillar's Diversity & Inclusion, Lobbying, and TCFD (Task Force on Climate-related Financial Disclosures) reports into a single, easily accessible document, ensuring employees and stakeholders can find relevant and timely information in one resource. 

Learn more and explore the reports at caterpillar.com/reports.  

About Caterpillar
With 2024 sales and revenues of $64.8 billion, Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For 100 years, we've been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/en/news/social-media.html.

Forward Looking Statements
Certain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "forecast," "target," "guide," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance and speak only as of the date they are made, and we do not undertake to update our forward-looking statements. Caterpillar's actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce and market quality products that meet our customers' needs; (vii) the impact of the highly competitive environment in which we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix) inventory management decisions and sourcing practices of our dealers and our OEM customers; (x) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xi) union disputes or other employee relations issues; (xii) adverse effects of unexpected events; (xiii) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xiv) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xv) our Financial Products segment's risks associated with the financial services industry; (xvi) changes in interest rates or market liquidity conditions; (xvii) an increase in delinquencies, repossessions or net losses of Cat Financial's customers; (xviii) currency fluctuations; (xix) our or Cat Financial's compliance with financial and other restrictive covenants in debt agreements; (xx) increased pension plan funding obligations; (xxi) alleged or actual violations of trade or anti-corruption laws and regulations; (xxii) additional tax expense or exposure, including the impact of U.S. tax reform; (xxiii) significant legal proceedings, claims, lawsuits or government investigations; (xxiv) new regulations or changes in financial services regulations; (xxv) compliance with environmental laws and regulations; (xxvi) the duration and geographic spread of, business disruptions caused by, and the overall global economic impact of, the COVID-19 pandemic; and (xxvii) other factors described in more detail in Caterpillar's Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.

 

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SOURCE Caterpillar Inc.

FAQ

How much has Caterpillar (CAT) invested in R&D over the past 20 years?

Caterpillar has invested more than $30 billion in research and development over the past 20 years to drive innovation.

What are the main focus areas of Caterpillar's 2024 growth strategy?

Caterpillar's strategy focuses on services, expanded offerings, operational excellence, and sustainability.

What sustainability goals is Caterpillar (CAT) pursuing for 2030?

Caterpillar's 2030 sustainability goals include reducing greenhouse gas emissions in operations, increasing sales of remanufactured products, and maintaining focus on employee health and safety.

What new changes were made to Caterpillar's 2024 Sustainability Report?

The 2024 Sustainability Report now integrates Diversity & Inclusion, Lobbying, and TCFD reports into a single, easily accessible document.