GM launches USD 25 million Climate Equity Fund to help transition to EVs, clean tech – News 24-7 Live News 24-7 Live
GM launches USD 25 million Climate Equity Fund to help transition to EVs, clean tech

GM launches USD 25 million Climate Equity Fund to help transition to EVs, clean tech

New Delhi: General Motors Co. has created a new USD 25 million Climate Equity Fund, dedicated to help close equity gaps in the transition to electric vehicles and other sustainable technology. The fund complements the company’s USD 35-billion global investment in EV and AV programmes, research, technology, manufacturing and charging infrastructure.

General Motor’s Chair and CEO Mary Barra also expanded on GM’s previous climate commitments, declaring the company would prioritize equitable climate action to help ensure its all-electric future is inclusive for its current and future workforce; customers; and communities that may be more likely to disproportionately experience the effects of climate change, GM said in a release.

“Climate change does not impact every community equally. As we move to an all-electric, zero-emissions future, it is on us to lead positive change and implement inclusive solutions that bring everyone along, especially our employees and communities,” Barra said during the Aspen Ideas Festival.

Barra also shared more about the company’s broader focus on equitable climate action, which is rooted in four key areas:

The Future of Work: GM reinforced the prioritization of its current salaried and represented workforce, including reiterating its long history of supporting unions to promote safety, quality, training and jobs for American workers. GM also publicly reiterated its support for the UAW’s efforts to organize employees at the Ohio and Tennessee Ultium Cells LLC battery cell manufacturing plants.

EV Access: The company will offer a wide selection of EVs across a range of price points, from the Bolt EV to the Cruise Origin shared autonomous vehicle. GM also recently announced programs leveraging its HYDROTEC fuel cells for rail and aircraft applications, which could help pave the way for communities to experience the benefits of zero-emissions mobility beyond the motor vehicle.

Infrastructure Equity: The company is committed to ubiquitous charging solutions that can help meet customers where they are. The company also understands the need to help address charging deserts and other scenarios that can hinder EV ownership.

Climate Equity: GM will help fund organizations that are closing the climate equity gap at the community level and across four key areas: the future of work, EV access, EV infrastructure equity and climate equity.

The company has also started accepting proposals for funding from its new Climate Equity Fund. Potential grantees are encouraged to submit proposals aligned to GM’s these four climate equity social outcomes, the release added.

News source- Economic Times

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