Climate Policy Engagement Analysis
Climate Policy Engagement Overview: Caterpillar appears to have very limited engagement with climate policy, with advocacy that is broadly misaligned with policy pathways for delivering the temperature goals of the Paris Agreement. Although the company has broadly positive top-line messaging on climate policy, it appears to advocate for a long-term role for fossil gas in the energy mix. Furthermore, Caterpillar remains a member of numerous industry associations that strategically oppose climate policy.
Top-line Messaging on Climate Policy: Caterpillar has limited, but positive top-line messaging on climate policy. In its 2024 Sustainability Report, released in May 2025, Caterpillar broadly supported the goals of the Paris Agreement. In the same report, the company clearly endorsed the science of the IPCC on climate change while calling for a “thoughtful approach” to policy to support decarbonization. In its 2023 Sustainability report, released in May 2024, former CEO Jim Umpleby stated support for emissions reductions, although it is unclear if the company supports emissions reductions in line with IPCC recommendations.
Engagement with Climate-Related Regulations: Caterpillar demonstrates limited engagement with specific climate policies between 2023 and 2025.
Positioning on Energy Transition: Caterpillar appears to take generally negative positions on the transition of the energy mix, with a focus on supporting a long-term role for fossil gas in the energy mix. In a February 2025 article in Power Engineering, Caterpillar subsidiary Solar Turbines characterized fossil gas as a “bridge fuel” and emphasized its role in “decarbonizing” the power sector. The same subsidiary supported the buildout of fossil gas to meet energy demand from data centers in a January 2025 article in Data Center Dynamics.
In its Q4 2024 Lobbying Disclosure Act (LDA) response, the company disclosed engagement on the Biden Administration’s liquified natural gas (LNG) export freeze, but did not specify a clear position on the issue. In its Q1 2025 LDA response, the company disclosed engagement on energy tax credits, oil and gas leasing, and permitting reform, also without disclosing specific positions. However, in its 2024 Sustainability Report, released in May 2025, the company appeared to advocate for permitting reform for “critically needed energy infrastructure projects,” including LNG exports, to meet growing energy demand.
Industry Association Governance: Caterpillar has disclosed a partial list of its trade association memberships in its 2024 Trade and Industry Association Memberships disclosure, including its membership to the National Association of Manufacturers and the US Chamber of Commerce, both of which are actively obstructing US climate policy. Caterpillar serves on the Board of Directors for both associations. However, Caterpillar excluded its membership to Euromines, Business Europe, the Associated Chambers of Commerce and Industry of India (ASSOCHAM), and the Brazilian National Association of Automotive Vehicle Manufacturers (ANFAVEA), each of which are actively engaged on climate policy in their respective regions. The company has not published a formal review of its alignment with its industry associations’ climate policy positions, thus excluding several key instances of engagement by these associations. For example, the US Chamber of Commerce advocated for the repeal of the Inflation Reduction Act’s methane fee in a February 2025 letter to members of Congress, and the National Association of Manufacturers supported a long-term role for fossil gas in the energy mix in a May 2025 comment to the US House Working Group on AI and Energy.
A detailed assessment of the company's corporate review on climate policy engagement can be found on InfluenceMap's CA100+ Investor Hub here.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q3 2025.