General Motors Co. (GM) is an American multinational corporation that designs, manufactures, markets, and distributes vehicles and vehicle parts across the world. The company operates in the automobile sector and is headquartered in Detroit, Michigan. GM has a rich history that dates back to 1908 when it was founded by William C. Durant. The company has since then grown to become one of the largest automobile manufacturers in the world.
In recent years, GM has been at the forefront of the decarbonisation movement, which seeks to reduce carbon emissions and mitigate the effects of climate change. The company has set ambitious goals to reduce its carbon footprint and transition to renewable energy sources. In 2020, GM pledged to become carbon-neutral in its global operations by 2040. This goal is in line with the Paris Agreement, which aims to limit global warming to below 2 degrees Celsius.
To achieve its decarbonisation goals, GM has implemented various initiatives, including the use of renewable energy sources and the adoption of corporate power purchase agreements (PPAs). The company has invested heavily in renewable energy, with a goal to source 100% of its electricity from renewable sources by 2030. In 2021, GM announced plans to build two new wind farms in Ohio and Illinois, which will generate 250 megawatts of renewable energy. The company has also installed solar panels at several of its facilities, including its Detroit-Hamtramck assembly plant, which is set to become GM's first all-electric vehicle assembly plant.
In addition to renewable energy, GM has also implemented corporate energy conservation measures to reduce its energy consumption. The company has implemented energy-efficient lighting, heating, and cooling systems at its facilities, which have resulted in significant energy savings. GM has also implemented a comprehensive energy management system that tracks energy usage and identifies areas for improvement.
GM has also adopted corporate PPAs, which allow the company to purchase renewable energy directly from wind and solar farms. This approach has enabled GM to reduce its carbon footprint and support the development of renewable energy infrastructure. In 2019, GM signed a PPA with Enel Green Power for 50 megawatts of wind energy from the HillTopper wind farm in Illinois. This PPA will enable GM to power its manufacturing facilities in Ohio and Indiana with renewable energy.
GM's commitment to decarbonisation is not only good for the environment but also for its business. The company recognizes that reducing its carbon footprint and transitioning to renewable energy sources is critical for its long-term sustainability. By investing in renewable energy and implementing energy conservation measures, GM is reducing its energy costs and improving its bottom line.
In conclusion, General Motors Co. is a leading automobile manufacturer that is committed to decarbonisation and the transition to renewable energy sources. The company has set ambitious goals to become carbon-neutral in its global operations by 2040 and to source 100% of its electricity from renewable sources by 2030. GM has implemented various initiatives, including the use of renewable energy sources, corporate PPAs, and energy conservation measures, to achieve its decarbonisation goals. By investing in renewable energy and reducing its carbon footprint, GM is not only contributing to the fight against climate change but also improving its business sustainability.