Automotive giant General Motors (GM) revealed it has generated around $1 billion (0.66bn) through recycling and reuse initiatives last year.
In its latest sustainability report, the company said it recycles 90% of its manufacturing waste worldwide and has 105 landfill-free facilities across the globe that recycles, reuses or converts all waste to energy from daily operations.
The company claims it has also reduced its energy use by 7% since 2010 – saving $66 million in energy costs through conservation schemes – and last year cut 173,000 metric tons of carbon equivalent emissions.
GE also reduced energy intensity per vehicle produced by 5% between 2010 and 2012 and is on its way to achieving a 20% reduction by 2020. It has set a target of cutting CO2 production footprint by 20% by the end of the decade as it aims to deploy more engines that can run on clean diesel, compressed natural gas and liquefied petroleum gas.
It now uses more than 60MW of solar, landfill gas and biomass energy at its facilities – around halfway into its 125MW renewable energy target. The news follows a report last year revealing GE as one of the US companies using extensive solar power.
Daniel F. Akerson, Chairman and CEO at GE said: “Our sustainability strategy is guided by this simple truth: energy diversity, resource conservation and CO2 reduction are business imperatives. Sustainability also can deliver revenue opportunities, cost savings and risk mitigation.
“Our long-term approach to sustainability enables us to increase efficiency and re-imagine personal mobility to best meet customer needs and lifestyles.”
The company has also set commitments, some of which include having 500,000 vehicles on the road with some form of electrification by 2017, lower carbon emissions from products by cutting average US fleet CO2 emissions by 15% by 2016 and Opel/Vauxhall fleet CO2 emissions by 27% by 2020 in Europe.
Last month General Motors and Ford announced their collaboration to design car parts which will increase their fuel economy.