Leading construction and mining equipment manufacturer Caterpillar announced today the launch of a broad range of 2030 Environmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More goals, encompassing environment, climate and safety targets.
The new goals were unveiled with the release of the company’s 2020 Sustainability Report, highlighting progress Caterpillar has made on its 2020 goals, with achievements including a 51% reduction in absolute greenhouse gas (GHG) emissions from 2006, and a 93% reduction in recordable injury frequency (RIF) since 2003.
Caterpillar’s new 2030 commitments include a further reduction in GHG emissions, with the company setting a science-based Scope 1 and 2 goal to reduce absolute GHG emissions from operations by 30%, compared to 2018 levels, and a safety goal to reduce RIF further by 50% compared to 2018.
Other 2030 commitments include implementing water management strategies at 100% of facilities located in water high-risk areas, reducing landfill intensity by 50%, increasing sales revenues from remanufacturing offerings by 25%, boosting customer safety, and improving the sustainability profile for all new products including reduced waste, improved design for rebuild/remanufacturing, lower emissions or improved efficiency.
Caterpillar Chairman and CEO Jim Umpleby, said:
“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. 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.”
The post Caterpillar Commits to Reduce Emissions, Boost Safety Under New ESG Goals appeared first on ESG Today.