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Foundation continues to build on seven decades of investments to transform communities to be stronger, more resilient and more sustainable
IRVING, Texas, Sept. 28, 2022 /PRNewswire/ -- The Caterpillar Foundation, the philanthropic organization of Caterpillar Inc. (NYSE: CAT), is celebrating seven decades of helping build resilient communities. Throughout the year, the Foundation is highlighting its global work in workforce readiness, STEM education, sustainable natural infrastructure, access to basic services, disaster relief, employee volunteerism and matching gifts, which have helped communities around the world achieve sustainable progress. Since its founding, the Caterpillar Foundation has invested $851 million to help improve the lives of people around the world.
Caterpillar has a long history of sustainability, including being one of the company's core values and an area of strategic focus. The Caterpillar Foundation strategy is consistent with the core values of the company and Caterpillar's desire to be good stewards. As the Foundation looks forward to the next 70 years, it will continue to prioritize investments in innovation and scalable, unique solutions to address some of the world's challenges.
"We are proud to continue to build on our rich history of supporting communities around the world," said Asha Varghese, president of the Caterpillar Foundation. "The spirit of giving has been part of Caterpillar's DNA since the very beginning. Caterpillar employees, retirees and dealers give back generously to the communities in which they live and work. At the Caterpillar Foundation, we believe that no one organization, group or person can achieve sustainable progress alone – and we are honored to work hand-in-hand with some of the world's most impactful organizations to build a better, more sustainable world for the future generations."
Foundation giving began in 1952 with a gift to the local East Peoria, IL firehouse, and has grown to investments in 110 countries across six continents to help build resilient and sustainable communities.
During its anniversary year, the Caterpillar Foundation will continue to focus on impacting communities with key partners, while highlighting future priorities and goals of the organization. The recent United Nations General Assembly/Climate Week in New York is one of the many global platforms the Caterpillar Foundation is engaging in alongside our partners to commemorate this milestone anniversary.
About the Caterpillar Foundation
Founded in 1952, Caterpillar's philanthropic organization, the Caterpillar Foundation, has contributed more than $850 million to help make sustainable progress possible around the world by building resilient communities that thrive in a rapidly changing world. To learn more about the global impact of the Caterpillar Foundation, visit caterpillar.com/foundation. To connect with us on social media, visit caterpillar.com/social-media.
About Caterpillar
With 2021 sales and revenues of $51.0 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 nearly 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.
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 Foundation