Caterpillar and the Caterpillar Foundation Donate Additional $3.4 Million in COVID-19 Relief

Rhea-AI Summary

Caterpillar Inc. and the Caterpillar Foundation announced targeted relief efforts to address COVID-19 crises in India and Brazil. The Foundation is donating $1 million to support India's healthcare system, including oxygen supplies. Additionally, Caterpillar India is contributing $1.4 million for medical support and vaccination drives. In Brazil, a $250,000 donation will aid local hospitals. The Foundation also supports the COVAX initiative with a $500,000 donation for global vaccine access and invests $250,000 in a U.S. vaccine education initiative.

Positive

• Caterpillar Foundation's $1 million donation to India to improve healthcare access.
• Caterpillar India's $1.4 million contribution for medical equipment and vaccination drives.
• Foundation's $250,000 donation in Brazil to support hospitals and communities.
• Support for COVAX initiative with a $500,000 donation to improve global vaccine access.
• Investment of $250,000 in U.S. vaccine education initiative to address vaccine hesitancy.

Negative

• None.

DEERFIELD, Ill., May 6, 2021 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) and the Caterpillar Foundation, the company's philanthropic arm, announced today a series of targeted relief efforts to support countries struggling with a significant rise of COVID-19 cases.

As part of the Caterpillar Foundation's ongoing response to COVID-19 and commitment to building stronger, more resilient communities, it is collaborating with partners and relief organizations to provide essential medical supplies and improve equitable access to vaccines.

"Supporting communities in need around the world aligns with the Caterpillar Foundation's strategy and our company's values," said Caterpillar Chairman and CEO Jim Umpleby. "Through partnering with relief organizations, the generosity of our employees and the Foundation's platform, we are helping fight the spread of COVID-19 and give front-line workers resources to act quickly and save lives." 

Currently, India is experiencing the world's worst outbreak; the unprecedented surge of COVID-19 cases has resulted in an overwhelmed healthcare system and shortage of oxygen throughout the country.

The Caterpillar Foundation is giving $1 million to help India's health system deliver care to families and communities by funding medical equipment, including oxygen concentrators and oxygen plant optimization, as well as critical medical supplies, across identified hot spot locations. In addition to the Foundation's efforts, Caterpillar India is providing an initial contribution of $1.4 million, enabling an additional supply of oxygen, donating beds with ventilator support to hospitals, supporting vaccination drives and setting up temporary relief shelters. Independent Cat® dealers are also contributing oxygen solutions to address the shortage.

Additionally, in Brazil, the Foundation is donating $250,000 to help coordinate with local partners to deliver essential medical and basic service supplies to hospitals and communities to help combat the rising new cases and more than 400,000 deaths.

The Caterpillar Foundation, through its partnership with the UN Foundation and the WHO Foundation, is supporting the COVAX initiative to promote equitable access to COVID-19 vaccinations with a $500,000 gift. This partnership will help increase access to vaccines across the globe, including in India. Additionally, to continue the emergency relief work and address vaccine hesitancy – particularly among rural, Black and Hispanic communities in the United States – the Foundation is investing $250,000 to support the Ad Council and COVID Collaborative's COVID-19 Vaccine Education Initiative, "It's Up To You."  Representing one of the largest public education efforts in U.S. history, the effort is designed to reach multiple distinct audiences throughout the country, answering top questions and empowering Americans with the information they need to make informed decisions for themselves and their families about the COVID-19 vaccines.

In 2020, the Caterpillar Foundation also donated $10 million to support response efforts and help organizations that have been directly impacted by COVID-19.

About Caterpillar

With 2020 sales and revenues of $41.7 billion, Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Since 1925, we've been driving sustainable progress and helping customers build a better world through innovative products and services. Throughout the product life cycle, we offer services built on cutting-edge technology and decades of product expertise. These products and services, backed by our global dealer network, provide exceptional value to help our customers succeed. We do 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 at caterpillar.com/social-media.

About Caterpillar Foundation

Founded in 1952, Caterpillar's philanthropic organization, the Caterpillar Foundation, has contributed nearly $810 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.

View original content:http://www.prnewswire.com/news-releases/caterpillar-and-the-caterpillar-foundation-donate-additional-3-4-million-in-covid-19-relief-301286251.html

SOURCE Caterpillar Inc.

FAQ

What is Caterpillar's recent COVID-19 relief donation?

Caterpillar and its Foundation announced a total relief donation of $3.4 million targeting COVID-19 crises in India and Brazil.

How much is Caterpillar donating to India's healthcare system?

The Caterpillar Foundation is donating $1 million to support India's healthcare system.

What contributions is Caterpillar making in Brazil?

Caterpillar Foundation is donating $250,000 to help coordinate essential medical supplies in Brazil.

What is the COVAX initiative supported by Caterpillar?

Caterpillar Foundation supports COVAX with a $500,000 donation to promote equitable access to COVID-19 vaccinations.

How is Caterpillar addressing vaccine hesitancy in the U.S.?

Caterpillar Foundation is investing $250,000 in a vaccine education initiative to combat hesitancy in rural and minority communities.