DEERFIELD, Ill., June 17, 2020 /PRNewswire/ -- The Caterpillar Foundation, the philanthropic arm of Caterpillar Inc. ( NYSE: CAT), today announced a commitment to help fight racism and social injustice.
To honor the lives lost and keep with its mission, the Caterpillar Foundation is donating $1 million split between the following two organizations ($500,000 each):
- The Equal Justice Initiative is committed to ending mass incarceration and excessive punishment, challenging racial and economic injustice, and protecting fundamental human rights for the most vulnerable in our society.
- The NAACP Legal Defense and Educational Fund, Inc. seeks structural changes to expand democracy, eliminate disparities and achieve racial justice in a society that fulfills the promise of equity for all Americans.
"Caterpillar supports the fight against racism and injustice," said Chairman and CEO Jim Umpleby. "Caterpillar and the Caterpillar Foundation look forward to working with the Equal Justice Initiative and the NAACP Legal Defense and Educational Fund to help build a better world."
The Foundation will continue investing in community programs that address the destructive effects of racism and the fight for equal justice.
Through its existing U.S. Matching Gifts Program, the Caterpillar Foundation is also matching employee and retiree donations to eligible organizations that are most important to them, their families and the communities in which we live and work in the fight against racism and social injustice.
Since 1925, Caterpillar Inc. has been helping our customers build a better world – making sustainable progress possible and driving positive change on every continent. With 2019 sales and revenues of $53.8 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Services offered throughout the product life cycle, cutting-edge technology and decades of product expertise set Caterpillar apart, providing exceptional value to help our customers succeed. The company principally operates through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect on social media, visit caterpillar.com/social-media.
About Caterpillar Foundation
Founded in 1952, Caterpillar's philanthropic organization, the Caterpillar Foundation, has contributed about $770 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.
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SOURCE Caterpillar Inc.