Caterpillar Contributes $7.5 Million to World Resources Institute Project to Improve Air Quality in World's Largest and Fastest Growing Cities
Posted on: Thursday, 27 April 2006, 12:00 CDT
PEORIA, Ill., April 27 /PRNewswire-FirstCall/ -- To help improve air quality in some of the world's largest and fastest growing cities, Caterpillar Inc. announced today that the Caterpillar Foundation is contributing $7.5 million to support the World Resources Institute's (WRI) Center for Transport and the Environment, known as EMBARQ.
Working with local governments and leaders, EMBARQ develops environmentally and financially sustainable solutions to urban transport problems, addressing issues of air pollution, greenhouse gas emissions, traffic congestion and safety. Key to these solutions is replacing outdated equipment and retrofitting existing buses with modern diesel technology, areas where Caterpillar has significant expertise.
"Caterpillar is committed to using its strength and resources to improve the lives of people around the world, and we're pleased to help support the EMBARQ initiative," said Caterpillar Chairman and Chief Executive Officer Jim Owens. "We are confident that the partnership with WRI and Shell Foundation will significantly contribute to an improved environment in the world's fastest growing urban areas by reducing emissions arising from public transportation."
The Caterpillar donation, and the renewal by the Shell Foundation of its initial $7.5 million investment, will form the core of a $43 million philanthropic investment to scale up efforts to meet the sustainable mobility needs of cities across the world. These funds will be used to support engineering and transportation planning, architectural and design services, communications and transportation management and other services.
"I am delighted the Caterpillar Foundation has joined the Shell Foundation as a core investor in EMBARQ," said Kurt Hoffman, director of the Shell Foundation. "Caterpillar's financial support, as well as its world-class reputation, knowledge and networks, will add greatly to the unique public-private partnership model EMBARQ uses to help cities solve their congestion and pollution problems."
During a pilot project in Mexico City, EMBARQ created a new bus rapid transit corridor that carries 250,000 passengers a day, cutting travel times in half and eliminating 43,000 tons of carbon dioxide emissions per year.
Over the next five years, EMBARQ plans to replicate its Mexico City success in 13 other locations, including several in Mexico, Porto Alegre in Brazil, Istanbul in Turkey and growing cities in Asia.
"As the global population continues to grow, and as the limits of our resources become increasingly apparent, Caterpillar is prepared to compete in expanding sustainable mobility markets with our products, technologies and services," commented Ali Bahaj, Caterpillar vice president with responsibility for Corporate Auditing and Compliance. "We have an opportunity to contribute toward making the planet a better place for future generations by developing products and impacting projects that support sustainable development."
The WRI is a not-for-profit organization based in Washington, D.C., dedicated to sustainable progress. WRI sponsors numerous projects in areas such as transportation, energy, climate and pollution to find practical ways to protect the earth and improve the lives of people around the world.
For more than 80 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2005 sales and revenues of $36.339 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. The company is also a technology leader in construction, transportation, mining, forestry, energy, logistics, remanufacturing, financing and electric power generation. More information is available at http://www.cat.com/ .
Caterpillar Inc.
CONTACT: Rusty L. Dunn, Corporate Public Affairs, of Caterpillar Inc.,+1-309-675-4803, dunn_rusty_l@cat.com
Web site: http://www.cat.com/
Source: PRNewswire-FirstCall
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