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, the company said in a statement.
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.
"Chevrolet's investment is an extension of the environmental initiatives we've been undertaking for years because the solution to global environmental challenges goes beyond just vehicles," said General Motors CEO Dan Akerson.
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 methane from community landfills to deliver clean energy to the grid and improve local air quality and safety.
- Contributing to forestry projects throughout America.
Since 1990, GM has decreased its manufacturing emissions by 60% and has invested hundreds of millions of dollars to build fuel-efficient vehicles. Other GM initiatives include reducing water use by nearly 35% between 2005 and 2009 at manufacturing facilities worldwide; decreasing fossil fuel at GM plants by using landfill gas, hydro, and solar power; recycling 90% of the waste the company generates; and operating 75 landfill-free facilities, accounting for more than half of its manufacturing plants globally.
International Business Times, The Global Business News Leader
Get the Fool's latest news on GM by using our stock-tracking service, My Watchlist.
Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.