GM doubles Climate Equity Fund to US$50-M

MANILA: General Motors (GM) has stated that it will double its Climate Equity Fund, devoting a total of US$50 million to help address equity gaps in the transition to electric vehicles and other sustainable technology.

This comes on top of the company’s pledge to invest US$35 billion in electric vehicle and automated vehicle initiatives, research, technology, production, and charging infrastructure.

The statement comes as GM works to raise awareness and excitement for EVs as a means of combating climate change.

“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,” GM Chief Sustainability Officer Kristen Siemen stated.

Since the launch of Climate Equity Fund eight months ago, GM has supported 21 non-profit organizations that are striving to develop equitable solutions for a zero-emissions, carbon-neutral future. These solutions, developed in part by the following grantees, are aligned with GM’s three climate equity social outcomes and focus on impact at the community level:

Clean Energy Jobs: Assisting the workforce through education, training, and hands-on experience.

• Valley Clean Air Now
• The Greening of Detroit

Sustainable Transportation: Making EVs more accessible, allowing more people to enjoy the benefits of low-cost EV ownership while also contributing to the development of universal charging solutions.

• EVHybridNoire
• Clean Fuels Ohio
• Forth Mobility Fund
• GRID Alternatives

Community Climate Action: Community-level initiative that aids communities in coping with the effects of climate change and building resilience to them.

• Detroiters Working for Environmental Justice
• WE ACT for Environmental Justice

According to GM, grant funding is available to charities working to implement community-based solutions for a zero-emissions future.

A grantees must be a US-based 501c3 organization in good standing. GM prioritizes programs that support underserved people and community-based organizations. Projects are evaluated based on three social outcomes: increasing the number of adults prepared for clean energy jobs, increasing access to more sustainable transportation, including but not limited to, EVs and EV infrastructure, and community-level programs aimed at mitigating local climate effects, adaptation and community resilience.

Last year, GM stated that it targets to become carbon-neutral in its global products and operations by 2040 and to achieve zero tailpipe emissions for new light-duty vehicles by 2035. It also plans to launch over 30 EV models by 2025.

Image from General Motors

Also read: GM invests $7-B to realize goal of becoming North America’s EV market leader by 2025