Primary Climate Goal
Caterpillar's target annual Scope 1 + 2 emissions for 2030 should be equal to 1,554 Kt = 30% * 2,220 Kt, according to the company's stated climate goal.
In order to achieve this goal, Caterpillar would need to reduce its emissions at least by 4.9 Kt per annum over the period from 2022 to 2030:
4.9 Kt = ( 1,554 Kt - 1,510 Kt ) / (2030 - 2021)
This translates into a +0.3% increase in 2022.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
Caterpillar aims to reduce Scope 1 + 2 by 30% by 2030 from a base year 2018
This target is most likely outdated and the company appears to have already achieved it
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
Caterpillar reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 1,510 Kt (+40/+2.7% y-o-y). At the sime time, carbon intensity declined to 30 t (-5.6 /-15.9% y-o-y).
No public disclosure of Scope 3 emissions has been found for Caterpillar at the moment.
The company is committed to reducing Scope 1 + 2 by 30% by 2030 from a base year 2018, which it appears to have already achieved as of 2021. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.