Chevrolet to Invest $40m in Clean Energy Projects
Chevrolet will invest $40M in various clean energy projects throughout America, with a goal to reduce 8 million metric tons of carbon dioxide emissions.
The initiative is based on projects that promote energy savings, renewable energy, responsible use of natural resources and conservation in communities across the United States.
According to the U.S. Environmental Protection Agency, 8 million metric tons equals the CO2 emissions of one year of electricity use in 970,874 homes or the annual carbon reduction from 1.7 million acres of pine forest.
GM estimates its new carbon-reduction goal equates to the emissions in 2011 from driving the 1.9 million vehicles Chevrolet is expected to sell in the United States over the next year.
Chevrolet’s clean energy investments to be implemented in the next three to five years may include projects such as:
- Providing energy efficient technology such as smart energy sensors and solar panels to schools and other community-based facilities in need of upgrades to decrease carbon dioxide emissions and reduce heating bills.
- Supporting wind farms and solar projects that deliver renewable energy to the grid and also help family farms increase their revenues per acre.
- Capturing flammable methane from community landfills that delivers clean energy to the grid and improves local air quality and safety.
- Contributing to forestry projects throughout America.
Chevy will be making investments through third-party organizations such as Bonneville Environmental Foundation, a nonprofit organization based in Portland, Ore. To define project criteria and the program’s investment portfolio, GM has engaged environmental experts, non-government organizations and academics through the Climate Neutral Business Network.
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