Caterpillar has published its annual Year in Review and Sustainability Report today, detailing the progress made in 2015 despite challenging economic conditions. Recognising Caterpillar’s 90-year history as a global leader of sustainable progress, the tandem reports – titled What We’ve Built. Where We’re Headed and What We’ve Built. What We’re Solving – highlight the company’s success managing through a difficult business cycle by focusing on cost management and innovative, durable products that meet customer needs and help solve some of the world’s toughest challenges associated with energy, water, land and climate.
“World population growth will continue to drive increased demand for energy, commodities, infrastructure and transportation – all of which require the power, endurance and sophistication of Cat® equipment,” said Caterpillar Chairman and CEO, Doug Oberhelman. “We believe it’s possible to promote progress, balancing economic growth with society’s needs and reducing impact on the environment. With our strategic focus on the long term, and the prudent steps we’re taking now, we are investing in the future and successfully executing today.”
The 2015 Year in Review, What We’ve Built. Where We’re Headed details Caterpillar’s long history supporting economic development and introducing innovative products, services and solutions; it also showcases how we will continue to create value for our customers, our stockholders and the communities we serve. A few of the performance indicators highlighted include:
- Increasing the quarterly dividend by 10% in 2015
- Increasing market share for machines for the fifth year in a row
- Research and development spending as a percentage of sales is as high as it’s been in more than a decade.
The 2015 Sustainability report, What We’ve Built. What We’re Solving highlights our progress in making sustainable progress possible across the enterprise, starting with our people and operations, through our value chain, to our products and customers around the world. Specific sustainable development achievements highlighted include:
- An intensified focus on renewable and alternative energy development and energy access, specifically through microgrid technology, solar panels and energy storage systems
- Amplifying discussions on the need to restore natural infrastructure, in order to maintain and restore the critical services ecosystems provide including carbon sequestration and natural resources
- Continued success in building a safety culture, reducing Recordable Injury Frequency by 90.5% from the 2003 base year and 17% from the last reporting period.