While GM has enjoyed a wealth of goodwill lately from the Chevrolet Volt and today’s IPO (which closed at $34.19). Today they announced that they will take $40 million from Chevy’s marketing budget and invest it in clean energy.
The goal of this $40 million investment, which comes right out of Chevrolet’s advertising budget, is to reduce carbon emissions by 8 million metric tons through 2011. That would be the equivalent of taking about 1.9 million cars off the road, or the emissions from over 970,000 U.S. homes.
This investment will cover multiple areas, including;
- 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.
They say you can’t buy good publicity, but I’d beg to differ. While $40 million may be a drop in the bucket compared to their last quarter profit of over $2 billion, it isn’t exactly a negligible sum either. Every little bit helps, right?
Chris DeMorro is a writer and gearhead who loves all things automotive, from hybrids to Hemis. You can follow his slow descent into madness at Sublime Burnout.