The automaker developed a formula where campuses can earn money for certain upgrades that reduce greenhouse gas emissions. It is investing in clean energy initiatives and says such funding enables universities to reduce their environmental impact and save money on utility bills.
Ball State University in Muncie, Ind. and Valencia College in Orlando, Fla. are among the first to apply these new methodologies with pilot projects. Ball State is using the Chevy acquisition of carbon credits to broaden the impact of its installation of the largest geothermal system of its kind in the nation, according to a campus blog.
With this initiative, Chevrolet will buy and retire carbon credits resulting from some campuses’ greenhouse gas reductions from either their LEED certified buildings or other campus wide energy-saving initiatives.
The methodologies have been approved through the Verified Carbon Standard.
In addition to helping colleges cut their GHGs, Chevrolet is taking steps to cut its own products’ emissions. It appears to be working — the 2014 Chevrolet Spark electric vehicle is the most fuel-efficient vehicle, according to the 2014 Fuel Economy Guide released by the EPA and Energy Department.