Vehicle efficiency and new technologies will go a long way toward shaping a future with more sustainable and cleaner energy sources, but there are other ways to contribute to this goal. Investments in renewable energy and community-based, energy-saving projects also are critical to reducing oil dependence and carbon emissions. Chevrolet is underscoring this point through an innovative marketing program launched in November 2010.
As part of this initiative, Chevrolet is investing up to $40 million in various carbon-reducing projects with a goal of reducing up to eight million tons of CO2 emissions throughout America. We estimate that our carbon reduction goal equates to the emissions released in 2011 from driving the 1.9 million new Chevrolet vehicles sold and driven in the U.S. between November 18, 2010 and December 31, 2011. According to the EPA website, Chevrolet's carbon reduction goal is equivalent to the emissions of one year of electricity used in 970,874 homes or the annual carbon reduction from 1.7 million acres of pine forests.
Chevrolet is contributing to carbon-reducing projects that promote energy savings, renewable energy and conservation in communities across the United States. To date, all of the carbon-reduction projects have been certified by third-party organizations, such as those recognized by the Climate Action Reserve, Voluntary Carbon Standard or the Gold Standard.
In October 2011, Chevrolet announced 16 projects — from biomass to wind turbines — as part of its commitment. The carbon reduced from these projects is expected to account for half of its up to eight million metric ton reduction goal.