Wednesday 16 February 2022

General Motors doubles Climate Equity Fund to $50m

General Motors (GM) has announced it is doubling its Climate Equity Fund to $50 million (£37m) to help close the gaps in the transition to EVs and other sustainable technologies.

It is in addition to the company's commitment to invest $35 billion (£25.8bn) globally in EV and autonomous vehicle (AV) programmes, research, technology, manufacturing and charging infrastructure.

Since the launch of the Fund eight months ago, GM has supported 21 non-profit organisations that are helping to implement solutions for a zero-emission and carbon-neutral future.

They align with GM's three climate equity social outcomes: clean energy jobs, sustainable transportation and community climate action.

Kristen Siemen, GM Chief Sustainability Officer said: “As the effects of climate change take hold across the globe, it has never been more urgent to ensure inclusion and equity guide our sustainable solutions.

“Doubling our Climate Equity Fund will help meet this urgency with deepened engagement at the community level, where we believe our support will have the greatest impact in accelerating the transition to an inclusive zero-emissions future.”

The announcement follows GM's commitment last year to become carbon-neutral in its global products and operations by 2040 and is working towards a transition to 100% zero tailpipe emissions for new light-duty vehicles by 2035.

In addition, the company plans to introduce more than 30 EV models globally by 2025.