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92-745: Corvette Racing closed out its direct factory operation at the end of 2023, as General Motors will solely focus on customer teams with the new Chevrolet Corvette Z06 GT3.R . Beginning in 2024, Pratt Miller will continue the racing team under the name Corvette Racing by Pratt Miller Motorsports for the IMSA SportsCar Championship , and TF Sport will be supported by Corvette Racing for the FIA World Endurance Championship , both with limited GM factory support. Corvette Racing has had multiple successes across multiple championships, including one championship in

184-591: A "decent pledge". The UN Race to Zero campaign calls them "starting line criteria". This states that they must have a "plan and published evidence of action taken towards reaching the target" besides a stated pledge. One of the main reasons for the low credibility of many net zero claims is their heavy reliance on carbon credits. Carbon credits are often used for offsetting. They reduce or remove emissions of carbon dioxide or other greenhouse gases in order to compensate for emissions made elsewhere. Many fossil fuel companies have made commitments to be net zero by 2050. At

276-529: A 15% stake in AeroVironment . In 1989, GM acquired half of Saab Automobile 's car operations for $ 600 million. In August 1990, Robert Stempel became CEO of the company, succeeding Roger Smith . GM cut output significantly and suffered losses that year due to the early 1990s recession . In 1990, GM debuted the General Motors EV1 (Impact) concept, a battery electric vehicle , at

368-631: A 2007 report from the Transnational Institute , Kevin Smith likened carbon offsets to medieval indulgences. He said they allowed people to pay "offset companies to absolve them of their carbon sins." He said this permits a "business as usual" attitude that stifles required major changes. Many people have criticized offsets for playing a part in greenwashing . This argument appeared in a 2021 watchdog ruling against Shell . Loose regulation of claims by carbon offsetting schemes combined with

460-530: A British producer of high-performance sports cars . In 1987, in conjunction with AeroVironment , GM built the Sunraycer , which won the inaugural World Solar Challenge and was a showcase of advanced technology. Much of the technology from Sunraycer found its way into the Impact prototype electric vehicle (also built by Aerovironment) and was the predecessor to the General Motors EV1 . In 1988, GM acquired

552-646: A base year to measure emissions reductions against. This should be representative of their typical greenhouse gas profile. They should explain the choice of baseline and how they will account for changes in conditions since the baseline. Financial organizations should also include emissions within their portfolio . This should include all organizations they have financed, invested in, or insured. Countries and regions should include both territorial emissions released within their boundaries and consumption emissions related to products and services imported and consumed within their boundaries. Cities and countries pose

644-412: A baseline or status quo. But they do not remove emissions from the atmosphere. Weak standards such as ISO and BSI "carbon neutrality" standards allow organizations to use avoided-emissions carbon credits. They do not specify how permanent or durable a credit must be. Carbon offsetting has been criticized on several fronts. One important concern is that offsets may delay active emissions reductions. In

736-510: A breakthrough in heat treating still in use today as ASTM A255. GM established Detroit Diesel the next year. In 1939, the company founded Motors Insurance Corporation and entered the vehicle insurance market. The same year, GM introduced the Hydramatic , the first affordable and successful automatic transmission , for the 1940 Oldsmobile. During World War II , GM produced vast quantities of armaments, vehicles, and aircraft for

828-458: A challenge when it comes to calculating emissions. This is because the production of products and services within their boundaries might be linked to either internal consumption or exports. At the same time the population also consumes imported products and services. So it is important to state explicitly whether emissions are counted at the location of production or consumption. This helps to prevent double counting. The lengthy manufacturing chains of

920-655: A commitment to reach net-zero emissions by the year 2050. These promises are often made at the corporate level. Both governments and international agencies encourage businesses to contribute to a national, or international, net zero pledge. The International Energy Agency says that global investment in low carbon substitutes for fossil fuels needs to reach US$ 4 trillion annually by 2030 for the world to get to net zero by 2050. Some analyses have raised concerns that net zero cannot be achieved worldwide by 2050. On average, approximately 29% of companies in EU member states have formulated

1012-482: A continuation of its diversification plans, GMAC formed GMAC Mortgage and acquired Colonial Mortgage as well as the servicing arm of Norwest Mortgage in 1985. This acquisition included an $ 11 billion mortgage portfolio. The same year, GM acquired the Hughes Aircraft Company for $ 5 billion in cash and stock and merged it into Delco Electronics . The following year, GM acquired 59.7% of Lotus Cars ,

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1104-957: A controlling interest in North American Aviation and merged it with the General Aviation Manufacturing Corporation . The GM labor force participated in the formation of the United Auto Workers labor union in 1935, and in 1936 the UAW organized the Flint Sit-Down Strike , which initially idled two key plants in Flint, Michigan, and later spread to 6 other plants including those in Janesville, Wisconsin and Fort Wayne, Indiana . In Flint, police attempted to enter

1196-529: A globalised market might make this challenging. There are additional challenges with looking at renewable energy systems and electric vehicle batteries. This is because the necessary embodied energy and other effects of raw material extraction are often significant when measuring life-cycle emissions. However the local emissions at the place they are used may be small. Leading standards and guidance allow official accreditation bodies to certify products as carbon neutral but not as net zero. The rationale behind this

1288-543: A lack of binding regulation. It is also due to the need for continued innovation and investment to make decarbonization possible. To date, 27 countries have enacted domestic net zero legislation. These are laws that legislatures have passed that contain net zero targets or equivalent. There is currently no national regulation in place that legally requires companies based in that country to achieve net zero. Several countries, for example Switzerland, are developing such legislation. The idea of net zero came out of research in

1380-642: A need to protect business as usual, not the climate. If we want to keep people safe then large and sustained cuts to carbon emissions need to happen now. [...] The time for wishful thinking is over." In his 2021 report, Dangerous Distractions, economist Marc Lee said that net zero had the potential to be a dangerous distraction that reduced political pressure to reduce emissions. "A net zero target means less incentive to get to 'real zero' emissions from fossil fuels, an escape hatch that perpetuates business as usual and delays more meaningful climate action," he said. "Rather than gambling on carbon removal technologies of

1472-542: A program to develop a lightweight two-stroke diesel engine for possible usage in automobiles. Soon after, GM acquired Electro-Motive Company and the Winton Engine Co. , and in 1941, it expanded EMC's realm to locomotive engine manufacturing. In 1932, GM acquired Packard Electric (not to be confused with the Packard car company, which merged with Studebaker years later). The following year, GM acquired

1564-401: A rate just fast enough to compensate for this deep ocean adjustment. The result would be approximately constant global average surface temperatures over decades or centuries. It will be quicker to reach net-zero emissions for CO 2 alone rather than CO 2 plus other greenhouse gases like methane , nitrous oxide and fluorinated gases . The net-zero target date for non-CO 2 emissions

1656-596: A report that stated that the carbon neutrality pledges of many corporations , local governments , regional governments , and financial institutions around the world often amount to nothing more than greenwashing and provided 10 recommendations to ensure greater credibility and accountability for carbon neutrality pledges such as requiring non-state actors to publicly disclose and report verifiable information (e.g. greenhouse gas inventories and carbon footprint accounting in prospectus for financial securities ) that substantiates compliance with such pledges. After

1748-457: A respective target to achieve net zero or have already reached this goal. However, these numbers can vary significantly across different industries, countries, and firm sizes. External pressures, such as companies' exposure to risks associated with climate change and its perception as a problem, can influence a company's ambition to adopt specific targets and strategies. The guidance from standards institutions says that organizations should choose

1840-422: A strategy by CEO Roger Smith to derive at least 10% of its annual worldwide revenue from non-automotive sources. GM also intended to have EDS handle its bookkeeping, help computerize factories, and integrate GM's computer systems. The transaction made Ross Perot the largest shareholder of GM; however, disagreements with Roger Smith led the company to buy all shares held by Ross Perot for $ 750 million in 1986. In

1932-412: A voluntary basis. The lack of an enforcement mechanism surrounding these claims means that many are dubious. In many sectors such as steel, cement, and chemicals, the pathway to reaching net zero in terms of technology remains unclear. Further investment in research and innovation and further regulation will probably be necessary if net zero claims are to become more credible. Tzeporah Berman , chair of

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2024-628: Is a set of policy initiatives by the European Commission with the overarching aim of making the European Union (EU) climate neutral in 2050. The plan is to review each existing law on its climate merits, and also introduce new legislation on the circular economy (CE), building renovation , biodiversity , farming and innovation . The president of the European Commission, Ursula von der Leyen , stated that

2116-517: Is a short-term target, and net zero is a longer-term target. To balance residual emissions, actors may take direct action to remove carbon dioxide from the atmosphere and sequester it. Alternatively or in addition they can buy carbon credits that "offset" emissions . Carbon credits can be used to fund carbon removal projects such as reforestation . Strong standards such as the ISO and BSI "net zero" standards only allow removal-based offsets that have

2208-454: Is because it allows actors to defer present-day emissions reductions by relying on future, unproved technological fixes. Examples are carbon offsetting, carbon dioxide removal and geoengineering . "The problems come when it is assumed that these [technological fixes] can be deployed at vast scale. This effectively serves as a blank cheque for the continued burning of fossil fuels and the acceleration of habitat destruction ", they said. By tracing

2300-559: Is because of the possibility that offset projects themselves could have harmful effects. The ISO Net Zero Guidelines say that net zero strategies should align with the United Nations Sustainable Development Goals .This is in order to "support equity and global transition to a net-zero economy, and any subsequent UN global goals which supersede the 2030 SDGs." The UNFCCC's Race to Zero campaign says emissions reductions and removals should "safeguard

2392-415: Is later partly because modellers assume that some of these emissions such as methane from farming are harder to phase out. Emissions of short-lived gases such as methane do not accumulate in the climate system in the same way that CO 2 does. Therefore there is no need to reduce them to zero to halt global warming. This is because reductions in emissions of short-lived gases cause an immediate decline in

2484-436: Is often confused with "stabilization of greenhouse gas concentrations in the atmosphere". This is a term that dates from the 1992 Rio Convention . The two concepts are not the same. This is because the carbon cycle continuously sequesters or absorbs a small percentage of cumulative historical human-caused CO 2 emissions into vegetation and the ocean. This happens even after current CO 2 emissions are reduced to zero. If

2576-429: Is that until organizations and their supply chains are on track for net zero, allowing a product to claim to be net zero at this point would be disingenuous and lead to greenwashing. The International Monetary Fund estimates that compared to current government policies, shifting policies to bring emissions to net zero by 2050 would result in global gross domestic product (GDP) being 7 percent higher. In its estimates,

2668-625: The Fortune 500 and 50th on the Fortune Global 500 . In 2023, the company was ranked 70th in the Forbes Global 2000 . In 2021, GM announced its intent to end production of vehicles using internal combustion engines by 2035, as part of its plan to achieve carbon neutrality by 2040. By 1900, William C. Durant 's Durant-Dort Carriage Company of Flint, Michigan , had become the largest manufacturer of horse-drawn vehicles in

2760-815: The 2-mode hybrid system in the Chevrolet Tahoe , GMC Yukon , Cadillac Escalade , and pickup trucks . Carbon neutrality Global net-zero emissions describe the state where emissions of greenhouse gases due to human activities and removals of these gases are in balance over a given period. It is often called simply net zero . In some cases, emissions refers to emissions of all greenhouse gases, and in others it refers only to emissions of carbon dioxide (CO 2 ). To reach net zero targets requires actions to reduce emissions. One example would be by shifting from fossil fuel energy to sustainable energy sources. Organizations often offset their residual emissions by buying carbon credits . People often use

2852-559: The 25 countries with the greatest emissions (whose pledges cover more than 90% of the gross world product ) by the recommendations of the UN report and found that many these pledges were largely unsubstantiated and more than half of cities had no plan for tracking and reporting compliance with pledges. The concept of net zero has attracted criticism for the impact it could have on equity and distribution. The use of removals or carbon credits for offsetting has been particularly controversial. This

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2944-848: The Allies of World War II . In 1940, GM's William S. Knudsen served as head of U.S. wartime production for President Franklin Roosevelt , and by 1942, all of GM's production was to support the war. GM's Vauxhall Motors manufactured the Churchill tank series for the Allies, instrumental in the North African campaign . However, its Opel division, based in Germany, supplied the Wehrmacht with vehicles. Politically, Sloan, as head of GM at

3036-522: The Cadillac V8-6-4 variable-cylinder engines. GM sold Frigidaire in 1979. Although Frigidaire had between $ 450 million and $ 500 million in annual revenues, it was losing money. Robert Lee of GM invented the neodymium magnet , which was fabricated by rapid solidification, in 1984. This magnet is commonly used in products like a computer hard disk. The same year, GM acquired Electronic Data Systems for $ 2.5 billion from Ross Perot as part of

3128-545: The FIA World Endurance Championship , five championships in the IMSA SportsCar Championship , and ten championships in the American Le Mans Series , as well as nine victories at the 24 Hours of Le Mans , four victories at the 24 Hours of Daytona , and 12 victories at the 12 Hours of Sebring . Officially debuting in 2000, Corvette Racing has won the 24 Hours of Le Mans nine times. From 2024, Corvette Racing supports customer team TF Sport for Le Mans and

3220-536: The FIA World Endurance Championship . (key) Races in bold indicates pole position . Races in italics indicates fastest lap. General Motors General Motors Company ( GM ) is an American multinational automotive manufacturing company headquartered in Detroit , Michigan, United States. The company is most known for owning and manufacturing four automobile brands: Chevrolet , Buick , GMC , and Cadillac . By total sales, it has continuously been

3312-534: The Fossil Fuel Non-Proliferation Treaty Initiative , has criticized net zero claims by fossil fuel companies, describing them "delusional and based on bad science". A consortium of climate scientists has tracked net zero commitments. Their research found that net pledges drafted in law or policy documentation have grown from 7% of countries in 2020 to 75% in 2023. However, very few have met the minimum requirements for

3404-520: The General Motors Acceptance Corporation (GMAC), which provides financing to automotive customers, was formed. In 1920, du Pont orchestrated the removal of Durant once again and replaced him with Alfred P. Sloan . At a time when GM was competing heavily with Ford Motor Company , Sloan established annual model changes, making previous years' models "dated" and created a market for used cars . He also implemented

3496-682: The LA Auto Show . It was the first car with zero emissions marketed in the US in over three decades. The Impact was produced as the EV1 for the 1996 model year and was available only via lease from certain dealers in California and Arizona. In 1999–2002, GM ceased production of the vehicles and started to not renew the leases, disappointing many people, allegedly because the program would not be profitable and would cannibalize its existing business. All of

3588-567: The Rapid Motor Vehicle Company of Pontiac, Michigan , and the Reliance Motor Car Company of Detroit, Michigan (predecessors of GMC ) in 1909. Durant, with the board's approval, also tried acquiring Ford Motor Company , but needed an additional $ 2 million. Durant over- leveraged GM in making acquisitions, and was removed by the board of directors in 1910 at the order of the bankers who backed

3680-765: The Yellow Cab Manufacturing Company the same year, and its president, John D. Hertz , joined the board of directors of GM; it acquired the remainder of the company in 1943. In 1926, the company introduced the Pontiac brand and established the General Motors Group Insurance Program to provide life insurance to its employees. The following year, after the success of the 1927 model of the Cadillac LaSalle designed by Harley Earl , Sloan created

3772-472: The corporate spin-off of Electronic Data Systems . In 1997, GM sold the military businesses of Hughes Aircraft Company to Raytheon Company for $ 9.5 billion in stock and the assumption of debt. In February 2000, Rick Wagoner was named CEO, succeeding Smith. The next month, GM gave 5.1% of its common stock, worth $ 2.4 billion, to acquire a 20% share of Fiat . In December 2000, GM announced that it would begin phasing out Oldsmobile . The brand

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3864-537: The "Art and Color Section" of GM and named Earl as its first director. Earl was the first design executive to be appointed to leadership at a major American corporation. Earl created a system of automobile design that is still practiced today. At the age of 24, Bill Mitchell was recruited by Earl to the design team at GM, and he was later appointed as Chief Designer of Cadillac. After Earl retired in December 1958, Mitchell took over automotive design for GM. Also in 1926

3956-588: The EV1s were eventually returned to General Motors, and except for around 40 which were donated to museums with their electric powertrains deactivated, all were destroyed. The documentary film Who Killed the Electric Car? covered the EV1 story. In November 1992, John F. Smith Jr. became CEO of the company. In 1993, GM sold Lotus Cars to Bugatti . In 1996, in a return to its automotive basics, GM completed

4048-747: The European Green Deal would be Europe's "man on the moon moment". On 13 December 2019, the European Council decided to press ahead with the plan, with an opt-out for Poland . On 15 January 2020, the European Parliament voted to support the deal as well, with requests for higher ambition. A year later, the European Climate Law was passed, which legislated that greenhouse gas emissions should be 55% lower in 2030 compared to 1990. The Fit for 55 package

4140-497: The United States government and military, the vehicle safety, security, and information services provider OnStar , the auto parts company ACDelco , a namesake financial lending service , and majority ownership in the self-driving cars enterprise Cruise LLC . The company originated as a holding company for Buick established on September 16, 1908, by William C. Durant , the largest seller of horse-drawn vehicles at

4232-684: The United States. Durant was averse to automobiles, but fellow Flint businessman James H. Whiting , owner of Flint Wagon Works , sold him the Buick Motor Company in 1904. Durant formed the General Motors Company in 1908 as a holding company , borrowing a naming convention from General Electric . GM's first acquisition was Buick , which Durant already owned, then Olds Motor Works on November 12, 1908. Under Durant, GM went on to acquire Cadillac , Elmore , Welch , Cartercar , Oakland (the predecessor of Pontiac ),

4324-452: The company acquired Fisher Body , its supplier of automobile bodies. GM acquired Allison Engine Company and began developing a 1,000 horsepower liquid-cooled aircraft engine in 1929. The same year, GM acquired 80% of Opel , which at that time had a 37.5% market share in Europe, for $ 26 million. It acquired the remaining 20% in 1931. In the late-1920s, Charles Kettering embarked on

4416-480: The company in 1915 after a disagreement with Durant. GM was reincorporated in Detroit in 1916 as General Motors Corporation and became a public company via an initial public offering . By 1917, Chevrolet had become successful enough that Durant, with the backing of Samuel McLaughlin and Pierre S. du Pont , reacquired a controlling interest in GM. The same year, GM acquired Samson Tractor . Chevrolet Motor Company

4508-1065: The company's activities. This can greatly affect the volume of emissions that are counted. Some oil companies, for instance, claim that their operations (Scopes 1 and 2) produce net-zero emissions. These claims do not cover the emissions produced when the oil is burned by its customers, which are 70 - 90% of oil-related emissions. This is because they count as Scope 3 emissions. Robust net zero standards require Scope 3 emissions to be counted, but "carbon neutrality" standards do not. To achieve net zero, actors are encouraged to set net zero targets for 2050 or earlier. Long-term net zero targets should be supplemented by interim targets for every one to five years. The UN, UNFCCC, ISO, and SBTi all say that organizations should prioritize early, front-loaded emissions reduction. They say they should aim to halve emissions by 2030. Specific emissions reduction targets and pathways may look different for different sectors. Some may be able to decarbonize more quickly and easily than others. Many companies often claim

4600-421: The concentration of CO 2 in the atmosphere were kept constant, some CO 2 emissions could continue. However global average surface temperatures would continue to increase for many centuries due to the gradual adjustment of deep ocean temperatures. If CO 2 emissions that result directly from human activities are reduced to net zero, the concentration of CO 2 in the atmosphere would decline. This would be at

4692-457: The cost of emissions reductions in 2050 is less than 2% of world GDP, and the cost savings from reducing the effects of climate change are approximately 9% of world GDP. More and more nations and private and public-sector organizations are committing to net zero. But the credibility of these claims remains low. There is no binding regulation requiring a transition to net zero. So the overwhelming majority of net zero commitments have been made on

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4784-716: The diesel-hybrid market, the Opel Astra diesel engine hybrid concept vehicle was rolled out in January 2005. Later that year, GM sold its Electro-Motive Diesel locomotive division to private equity firms Berkshire Partners and Greenbriar Equity Group. GM paid $ 2 billion to sever its ties with Fiat in 2005, severing ties with the company due to an increasingly contentious dispute. GM began adding its " Mark of Excellence " emblem on all new vehicles produced and sold in North America in mid-2005. However, after

4876-815: The difficulties in calculating greenhouse gas sequestration and emissions reductions has also given rise to criticism. This argument is that this can result in schemes that do not adequately offset emissions in reality. There have been moves to create better regulation. The United Nations has operated a certification process for carbon offsets since 2001. This is called the Clean Development Mechanism. It aims to stimulate "sustainable development and emission reductions, while giving industrialized countries some flexibility in how they meet their emission reduction limitation targets." The UK Government's Climate Change Committee says reported emissions reductions or removals may have happened anyway or. not last into

4968-560: The emissions of others (third parties), and (3) actions to directly remove carbon dioxide from the atmosphere (carbon sinks). Robust net zero standards require actors to reduce their own emissions as much as possible following science-based pathways. They must then balance their residual emissions using removals and offsets. This typically involves shifting from fossil fuels to sustainable energy sources. Residual emissions are emissions that are not practical to reduce for technological reasons. Experts and net zero frameworks disagree over

5060-451: The exact percentage of residual emissions that may be allowed. Most guidance suggests this should be limited to a small fraction of total emissions. Sector-specific and geographical factors would determine how much. The Science Based Targets initiative says that residual emissions across most sectors should fall between 5-10% of an organization's baseline emissions. It should be even lower for some sectors with competitive alternatives like

5152-482: The first hydrogen fuel cell car ever produced. Though fuel cells have existed since the early 1800s, General Motors was the first to use a fuel cell, supplied by Union Carbide , to power the wheels of a vehicle with a budget of "millions of dollars". In the 1960s, GM was an early proponent of V6 engines , but quickly lost interest as the popularity of muscle cars increased. GM demonstrated gas turbine vehicles powered by kerosene , an area of interest throughout

5244-699: The future, Canada should plan for a managed wind down of fossil fuel production and invest public resources in bona fide solutions like renewables and a just transition from fossil fuels," he said. At the 2022 United Nations Climate Change Conference (COP27), the High-Level Expert Group on the net-zero emissions commitments of non-state entities of the United Nations formed the previous March by U.N. Secretary-General António Guterres and chaired by former Canadian Minister of Environment and Climate Change Catherine McKenna released

5336-699: The future. This is despite an improvement in standards globally and in the UK. There has also been criticisms of non-native and monocultural forest plantations as carbon offsets. This is because of their "limited—and at times negative—effects on native biodiversity" and other ecosystem services . Most of the carbon credits on the voluntary market today do not meet UN, UNFCCC, ISO or SBTi standards for permanent carbon dioxide removals. So significant investment in carbon capture and permanent geological storage will probably be necessary to achieve net-zero targets by mid-century. Since 2015, there has been significant growth in

5428-497: The gasoline was harmful to various biological organisms including humans. Evidence shows that corporate executives understood the health implications of tetraethyllead from the beginning. As an engineer for GM, Midgley also developed chlorofluorocarbons , which have now been banned due to their contribution to climate change . Under the encouragement of GM President Alfred P. Sloan Jr., GM acquired Vauxhall Motors for $ 2.5 million in 1925. The company also acquired an interest in

5520-446: The history of previous failures in climate policy at reducing emissions from 1988 to 2021, they said they "[arrive] at the painful realisation that the idea of net zero has licensed a recklessly cavalier 'burn now, pay later' approach which has seen carbon emissions continue to soar". They concluded: "Current net zero policies will not keep warming to within 1.5 °C because they were never intended to. They were and still are driven by

5612-664: The industry, but abandoned the alternative engine configuration due to the 1973 oil crisis . In partnership with Boeing , GM's Delco Defense Electronics Division designed the Lunar Roving Vehicle , which traversed the surface of the Moon, in 1971. The following year, GM produced the first rear wheel anti-lock braking system for two models: the Toronado and Eldorado. In 1973, the Oldsmobile Toronado

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5704-641: The largest 2,000 publicly traded companies by annual revenue have net zero targets. Among Fortune 500 companies the percentage is 63%. Company targets can result from both voluntary action and government regulation . The Greenhouse Gas Protocol is a group of standards that are the most common in GHG accounting. These standards reflect a number of accounting principles. They include relevance, completeness, consistency, transparency, and accuracy. The standards divide emissions into three scopes: Corporate net zero targets vary in how widely they cover emissions related to

5796-492: The largest automaker in the United States, and was the largest in the world for 77 years before losing the top spot to Toyota in 2008. General Motors operates manufacturing plants in eight countries. In addition to its four core brands, GM also holds interests in Chinese brands Baojun and Wuling via SAIC-GM-Wuling Automobile . GM further owns a namesake defense vehicles division which produces military vehicles for

5888-462: The last few years, net zero has become the main framework for climate action . Many countries and organizations are setting net zero targets. As of November 2023, around 145 countries had announced or are considering net zero targets, covering close to 90% of global emissions. They include some countries that were resistant to climate action in previous decades. Country-level net zero targets now cover 92% of global GDP , 88% of emissions, and 89% of

5980-468: The late 2000s into how the atmosphere, oceans and carbon cycle were reacting to CO 2 emissions. This research found that global warming will only stop if CO 2 emissions are reduced to net zero. Net zero was basic to the goals of the Paris Agreement . This stated that the world must "achieve a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in

6072-637: The loans to keep GM in business. The action of the bankers was partially influenced by the Panic of 1910–1911 that followed the earlier enforcement of the Sherman Antitrust Act of 1890 . In 1911, Charles F. Kettering of Dayton Engineering Laboratories Company (DELCO) and Henry M. Leland invented and patented the first electric starter in America. In November 1911, Durant co-founded Chevrolet with race car driver Louis Chevrolet , who left

6164-452: The national strategy of France, use the term "carbon neutral" to mean net reductions of all greenhouse gases. The United States has pledged to achieve "net zero" emissions by 2050. As of March 2021 it had not specified which greenhouse gases will be included in its target. Countries, local governments, corporations, and financial institutions may all announce pledges for achieving to reach net-zero emissions. In climate change discussions,

6256-428: The net-zero emissions commitments of non-state entities has made several recommendations for non-state actors . Non-state actors include cities, regional governments, financial institutions, and corporations. One of these is not financing new fossil fuel development. Another is supporting strong climate policy. And another is ensuring that business activities and investments do not contribute to deforestation . 65% of

6348-583: The number of actors pledging net-zero emissions. Many standards have emerged that interpret the net zero concept and aim to measure progress towards net zero targets. Some of these standards are more robust than others. Some people have criticized weak standards for facilitating greenwashing . The UN , UNFCCC , International Organization for Standardization (ISO), and the Science Based Targets initiative (SBTi) promote more robust standards. The "United Nations High-Level Expert Group" on

6440-486: The plant to arrest strikers, leading to violence; in other cities, the plants were shuttered peacefully. The strike was resolved on February 11, 1937, when GM recognized the UAW as the exclusive bargaining representative for its workers and gave workers a 5% raise and permission to speak in the lunchroom. Walter E. Jominy and A.L. Boegehold of GM invented the Jominy end-quench test for hardenability of carbon steel in 1937,

6532-467: The power sector. Sectors such as heavy manufacturing where it is harder to mitigate emissions will probably have a higher percentage of residual emissions by 2050. The ISO and British Standards Institution (BSI) publish "carbon neutrality" standards that have higher tolerance for residual emissions than "net zero" standards. For example, BSI PAS 2060 is a British standard for measuring carbon neutrality. According to these standards, carbon neutrality

6624-528: The pricing strategy used by car companies today. The pricing strategy had Chevrolet , Pontiac , Oldsmobile , Buick , and Cadillac priced from least expensive to most, respectively. In 1921, Thomas Midgley Jr. , an engineer for GM, discovered tetraethyllead (leaded gasoline) as an antiknock agent, and GM patented the compound because ethanol could not be patented. This led to the development of higher compression engines resulting in more power and efficiency. The public later realized that lead contained in

6716-832: The release of the report, Net Zero Tracker, a research consortium that includes the NewClimate Institute, the Energy and Climate Intelligence Unit , the Data-Driven EnviroLab of the University of North Carolina at Chapel Hill , and the Net Zero Initiative at the University of Oxford issued a report evaluating the climate neutrality pledges of 116 of 713 regional governments, of 241 of 1,177 cities with populations greater than 500,000 , and of 1,156 of 2,000 publicly listed companies in

6808-487: The reorganization in 2009, the company no longer added the logo, saying that emphasis on its four core divisions would downplay the GM logo. In 2005, Edward T. Welburn was promoted to the newly created position of vice president, GM Global Design, making him the first African American to lead a global automotive design organization and the highest-ranking African American in the US motor industry at that time. On July 1, 2016, he retired from General Motors after 44 years. He

6900-456: The resulting radiative forcing . Radiative forcing is the change in the Earth's energy balance that they cause. However, these potent but short-lived gases will drive temperatures higher in the short term. This could possibly push the rise in temperature past the 1.5 °C threshold much earlier. A comprehensive net-zero emissions target would include all greenhouse gases. This would ensure that

6992-506: The rights of the most vulnerable people and communities". It says that organizations should disclose how they will support communities affected by climate impacts and climate transition. As of November 2023, around 145 countries had announced or are considering net zero targets, covering close to 90% of global emissions. They include some countries that were resistant to climate action in previous decades. Country-level net zero targets now cover 92% of global GDP , 88% of emissions and 89% of

7084-726: The same permanence as the greenhouse gases that they balance. The term for this concept is "like for like" removals. Permanence means that removals must store greenhouse gases for the same period as the lifetime of the GHG emissions they balance. For example, methane has a lifetime of around 12 years in the atmosphere. Carbon dioxide lasts between 300 and 1,000 years. Accordingly, removals that balance carbon dioxide must last much longer than removals that balance methane. Carbon credits can also fund initiatives that aim to avoid emissions. One example would be energy efficiency retrofits or renewable energy projects. Avoided emissions offsets result from actions that reduce emissions relative to

7176-463: The same time they continue to increase greenhouse gas emissions by extracting and producing fossil fuels. They claim that they will use carbon credits and carbon capture technology in order to continue extracting and burning fossil fuels. The UN has condemned such pledges as dangerous examples of greenwashing. Climate scientists James Dyke, Bob Watson , and Wolfgang Knorr argue that the concept of net zero has been harmful for emissions reductions. This

7268-566: The second half of this century". The term "net zero" gained popularity after the Intergovernmental Panel on Climate Change published its Special Report on Global Warming of 1.5 °C (SR15) in 2018, this report stated that "Reaching and sustaining net zero global anthropogenic [human-caused] CO 2 emissions and declining net non-CO 2 radiative forcing would halt anthropogenic global warming on multi-decadal timescales ( high confidence )." The idea of net-zero emissions

7360-471: The terms net zero, carbon neutrality, and climate neutrality are often used as if they mean the same thing. In some contexts, however, they have different meanings from each other. The sections below explain this. People often use these terms without rigorous standard definitions. A given actor may plan to achieve net-zero emissions through a combination of approaches. These would include (1) actions to reduce their own emissions, (2) actions to reduce

7452-454: The terms net-zero emissions , carbon neutrality , and climate neutrality with the same meaning. However, in some cases, these terms have different meanings from each other. For example, some standards for carbon neutral certification allow a lot of carbon offsetting . But net zero standards require reducing emissions to more than 90% and then only offsetting the remaining 10% or less to fall in line with 1.5 °C targets. In

7544-504: The time, was an ardent opponent of the New Deal , which bolstered labor unions and public transport . Sloan admired and supported Adolf Hitler . Nazi armaments chief Albert Speer allegedly said in 1977 that Hitler "would never have considered invading Poland" without synthetic fuel technology provided by General Motors. GM was compensated $ 32 million by the U.S. government because its German factories were bombed by U.S. forces during

7636-553: The time. The first half of the 20th century saw the company grow into an automotive behemoth through acquisitions; going into the second half, the company pursued innovation and new offerings to consumers as well as collaborations with NASA to develop the earliest electric vehicles . The current entity was established in 2009 after the General Motors Chapter 11 reorganization . As of 2024 , General Motors ranks 25th by total revenue out of all American companies on

7728-518: The war. Effective January 28, 1953, Charles Erwin Wilson , then GM president, was named by Dwight D. Eisenhower as United States Secretary of Defense . In December 1953, GM acquired Euclid Trucks , a manufacturer of heavy equipment for earthmoving , including dump trucks , loaders and wheel tractor-scrapers , which later spawned the Terex brand. Alfred P. Sloan retired as chairman and

7820-523: The world population. According to World Population Review, a number of countries have net zero, or net negative carbon emissions: Bhutan , Comoros , Gabon , Guyana , Madagascar , Panama , and Suriname . However, according to the World Resources Institute, all of these countries have net positive greenhouse gas emissions. These countries generally have a high level of forestation. The European Green Deal , approved in 2020,

7912-571: The world population. 65% of the largest 2,000 publicly traded companies by annual revenue have net zero targets. Among Fortune 500 companies, the percentage is 63%. Company targets can result from both voluntary action and government regulation . Net zero claims vary enormously in how credible they are, but most have low credibility despite the increasing number of commitments and targets. While 61% of global carbon dioxide emissions are covered by some sort of net zero target, credible targets cover only 7% of emissions. This low credibility reflects

8004-465: The world would also urgently reduce non-CO 2 gases. Some targets aim to reach net-zero emissions only for carbon dioxide. Others aim to reach net-zero emissions of all greenhouse gases. Robust net zero standards state that all greenhouse gases should be covered by a given actor's targets. Some authors say that carbon neutrality strategies focus only on carbon dioxide, but net zero includes all greenhouse gases. However some publications, such as

8096-490: Was consolidated into GM on May 2, 1918, and the same year GM acquired United Motors , a parts supplier founded by Durant and headed by Alfred P. Sloan for $ 45 million, and the McLaughlin Motor Car Company , founded by R. S. McLaughlin , became General Motors of Canada Limited. In 1919, GM acquired Guardian Frigerator Company , part-owned by Durant, which was renamed Frigidaire . Also in 1919,

8188-560: Was eventually discontinued in 2004, seven years after it had become the first American car brand to turn 100. In May 2004, GM delivered the first full-sized pickup truck hybrid vehicles , the 1/2-ton Chevrolet Silverado / GMC Sierra trucks. These mild hybrids did not use electrical energy for propulsion, like GM's later designs. Later, the company debuted another hybrid technology, co-developed with DaimlerChrysler and BMW , in diesel-electric hybrid powertrain manufactured by Allison Transmission for transit buses. Continuing to target

8280-566: Was replaced by Michael Simcoe . In 2006, GM introduced a bright yellow fuel cap on its vehicles to remind drivers that cars can operate using E85 ethanol fuel . They also introduced another hybrid vehicle that year, the Saturn Vue Green Line . In 2008, General Motors committed to engineering half of its manufacturing plants to be landfill-free by recycling or reusing waste in the manufacturing process. Continuing their environmental-conscious development, GM started to offer

8372-608: Was succeeded by Albert Bradley in April 1956. In 1962, GM introduced the first ever turbocharged production car in the world in the Oldsmobile Cutlass Turbo-Jetfire. Two years later, the company introduced its " Mark of Excellence " logo and trademark at the 1964 New York World's Fair . The company used the mark as their main corporate identifier until 2021. GM released the Electrovan in 1966,

8464-558: Was the first retail car sold with a passenger airbag . Thomas Murphy became CEO of the company, succeeding Richard C. Gerstenberg in November 1974. GM installed its first catalytic converters in its 1975 models. From 1978 to 1985, GM pushed the benefits of diesel engines and cylinder deactivation technologies. However, it had disastrous results due to poor durability in the Oldsmobile diesels and drivability issues in

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