Caterpillar, Inc. (CAT) is a leading global manufacturer of construction and mining equipment, machinery, and engines headquarted in Peoria, IL (USA). The company is best known for its machinery, including its crawler tractors, off-highway trucks, wheel dozers, and backhoe loaders. CAT is a global ﬁ rm with more than 500 dealer and facility locations worldwide. In 2010, the company achieved global revenues of more than $42.5 billion, with $13.4 billion coming from exported products. 2 As a result, CAT faces the challenging tasks of managing a complex network of stakeholders. Despite some ethical lapses, CAT has made a name for itself not only for its quality products but also for its high ethical standards and corporate social responsibility (CSR). This case will emphasize CAT’s ethical initiatives and CSR efforts. We start off by providing a brief background of CAT’s history. We then examine CAT’s progress in areas such as ethical conduct, stakeholder relations, and sustainability. The case will conclude by analyzing some ethical risks and issues that CAT has encountered and likely will continue to experience.