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GM said that it has met its objective of securing enough renewable energy to power all of its U.S. locations by 2025, consolidating its position as the automotive industry's top purchaser of renewable electricity.
The accomplishment follows GM's statement last year of its ambition to reach 100% renewable energy for U.S. sites by 2025, five years earlier than its previous 2030 goal, which was established only months prior. Alongside the 2030 objective, a set of sustainability promises were made, which included ambitions to reach carbon neutrality by 2040 and a desire to eliminate tailpipe emissions from new light-duty vehicles by 2035.
Kristen Siemen, GM's chief sustainability officer, stated:
"Securing the renewable energy we need to reach our objective displays significant progress in decreasing our emissions in all facets of our business, ultimately bringing us closer to our vision of a zero-emissions future."
With the execution of the new agreements, GM's portfolio of renewable energy currently includes sourcing agreements with 16 renewable energy plants in 10 states. Since 2017, the company has reported positive cash flows from its portfolio totaling $75 million, and it anticipates this trend to continue.
The company outlined the key pillars of its renewable energy strategy, which includes initiatives to increase energy efficiency, address intermittency by developing technology to store renewable energy over the medium and long term, and advocate for policies supporting carbon-free, resilient power systems.
Siemen said:
We believe it is essential – for ourselves, our customers, and the future of the planet — to increase our efforts and achieve ambitious goals that bring us closer to a more sustainable world.
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