General Motors doubles Climate Equity Fund to US$50-M

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General Motors (GM) announced yesterday that it will double its Climate Equity Fund to further the company’s commitment to equitable climate action. The news comes as General Motors builds awareness and excitement for EVs as a key part of tackling climate change.

KEY TAKEAWAYS

  • How much did GM invest in its Climate Equity Fund?

    GM doubled its Climate Equity Fund to US$50 million.
  • How many nonprofit organizations did GM help with its Climate Equity Fund?

    As of the moment, GM has already helped 21 nonprofit organizations through its Climate Equity Fund.
  • “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,” said GM Chief Sustainability Officer Kristen Siemen.

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    The American multinational automotive manufacturing company now has US$25 million dedicated to its philanthropic commitment, and doubling that amount to US$50 million will help close equity gaps in the transition to electric vehicles and other sustainable technology.

    GM added that the recently announced US$50-million funding is in addition to the company's commitment to invest some US$35 billion in EV and AV programs, research, technology, manufacturing, and charging infrastructure.

    Since creating the Climate Equity Fund eight months ago, GM has supported 21 nonprofit organizations that are helping to implement inclusive solutions for a zero-emissions, carbon-neutral future.

    The abovementioned solutions, led in part by the following grantees, align with GM's three climate equity social outcomes (Clean Energy Jobs, Sustainable Transportation, and Community Climate Action) and prioritize impact at the community level.

    In 2021, GM announced its plans to become carbon neutral in its global products and operations by 2040. Its recent initiatives show that the Detroit-based automotive brand is hard at work in reaching the said goal.

    GM will transition to 100-percent zero tailpipe emissions for new light-duty vehicles by 2035 and plans to introduce more than 30 electric vehicle models globally by 2025.

    Photos from General Motors

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