General Motors has been revealed as one of the founding investors in TPG Capital’s new climate-focused financial fund, TPG Rise Climate.
TPG Rise Climate is described by the Texas-based financial firm as a “climate investing strategy” that aims to back “entrepreneurs and businesses building climate solutions around the world.” TPG Rise Climate, which was launched in early 2021, has set a hard cap of $7 billion in total capital commitments.
General Motors is also a member of the TPG Rise Climate Coalition – a group of companies that “will convene regularly to accelerate knowledge exchange, investment opportunities, and best practices among the group and the broader TPG Rise Climate ecosystem.” Other companies in the TPG Rise Climate Coalition include 3M, Allianz, Allstate, Alphabet, Apple, Bank of America, Boeing, Dow, Exor, FedEx, GE, Honeywell, John Deere, NIKE, Smithfield Foods, and TD Bank Group.
TPG Capital says The Rise Climate Coalition includes companies “that have done extensive work building sustainability and climate action into their businesses, and a majority of them have made substantial public commitments to improving their climate footprint.”
TPG Rise Climate’s investments will be spread across five climate sub-sectors: clean energy, enabling solutions, decarbonized transport, greening industrials, and agriculture and natural solutions. The investment fund will also “take a broad sector approach,” TPG Capital says, with investment types ranging from growth equity to value-added infrastructure.
“The Rise Climate Coalition brings together leading global businesses in a shared commitment to harness the rigor of TPG’s investment process to unlock technologies, scale solutions, and deliver broad impact,” said former U.S. Treasury Secretary Hank Paulson, who currently serves as TPG Rise Climate’s Executive Chairman. “Together, we can catalyze climate-focused capital to accelerate and scale climate solutions of tomorrow.”
The portfolio of companies The Rise Climate Fund has invested in so far can be viewed on its website.
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A total waste of resources. I look forward to dumping everyone of these companies.
So, this is the company who has sworn to eliminating petroleum powered vehicles in 20 years. This is the same company which has just announced a 625 hp flat plane crank 9,000 rpm engine in the Corvette Z06. They offer 500 hp turbo diesel trucks, because not doing so would hand the most profitable vehicle sold to the competition. They sell mid 400 hp Cadillac Escalades, which weigh 6,000 pounds to soccer moms who drive one kid 40 miles each way to a soccer game. These are all amazing vehicles, and anyone with even two neurons firing in their pea brain would never think GM is going to ever do away with petroleum power plants, and are tired of the bullshiz regarding investing in “alternative” energy companies. The only thing we know more than that alternative energy is a hoax, it’s that a company of GM’s prowess knows better.
There is some truth in this article, but it is a bit of overstatement. What GM stated was that they would achieve a zero carbon contribution by 2035, This goal includes some plan to increase tree forests. GM is making substantial steps to decrease carbon emission such as producing small and affordable all-electric vehicles. They are also ready to market larger vehicles with about 400-mile capability vehicles. However, there is an unsolved need for non-electric power trains in vehicles and machinery that must not depend on electric power such as military vehicles, fire trucks, agriculture machinery, marine applications, and vehicles in remote places in the world. I have a simple, compact, light weight, highly fuel efficient continuously variable displacement, low-cost engine design that can fill this need. Review my linkedin listing.
ISN’T GM THE SAME COMPANY THAT OBAMA BAILED OUT WITH $45 BILLION DOLLARS OF TAX PAYER’S MONEY??? AND NOW THEY ARE JOING BILL GATES AND HIS “CATALYST” ORGANIZATION (CHECK THAT OUT) TO HELP KEEP US ALL CARBON CORRECT. WHAT’S YOUR CARBON CREDIT SCORE??? HAIL TO THE ALMIGHT CHIEF – BILL GATES – WHOSE PRETTY MUCH FUNDED ALL THE PHAMACUTICAL COMPANIES THAT MAKE MRNA VACCINES THAT THEY ARE FORCING US TO TAKE…WHY? WHY IS IT SO IMPORTANT FOR US TO GET A VACCINE THAT DOESN’T WORK? OH THAT’S RIGHT – SO WE CAN GET BOOSTERS EVERY MONTH. OH THE HORROR FOR US AND ALL THE MONEY FOR THEM.