GM Commits Additional $25 Million for Climate Equity Fund
General Motors created its Climate Equity Fund last June, with a goal of supporting organizations that implement inclusive solutions for a carbon-neutral, zero-emissions future. The company originally donated $25 million at its start and has announced that it will be doubling that amount to a total of $50 million.
“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,” said Kristen Siemen, GM chief sustainability officer. “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 additional donation is set to help the transition to EVs and other sustainable tech. Since its inception, the Climate Equity Fund has supported 21 nonprofit organizations that work to create clean energy jobs, sustainable transportation, and community climate action. Valley Clean Air Now and The Greening of Detroit have been supporting the workforce through training, hands-on experience, and education. Meanwhile, organizations like EVHybridNoire, Clean Fuels Ohio, Forth Mobility Fund, and GRID Alternatives are all working to make EV ownership and adoption easier and more inclusive.
When it comes to action, the Detroiters Working for Environmental Justice and WE ACT for Environmental Justice are community-level programs that assist residents with adapting to the effects of climate change and mitigate through these adversities.
These actions taken by GM align with the company’s announcement that it would become carbon neutral by 2040. It also plans on transitioning to 100% zero tailpipe emissions for new light-duty vehicles by 2035. Globally, General Motors expects to produce more than 30 EVs by 2025.