GM to Forfeit Emissions Credits in Settlement With EPA
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General Motors Co. has agreed to settle allegations that nearly 6 million of its pickups and sport utility vehicles released more emissions than the company reported, reaching a deal with the Biden administration to retire 50 million metric tons of carbon credits to offset the pollution.
The move is the result of a U.S. Environmental Protection Agency investigation targeting certain 2012-2018 model year GM vehicles. Testing by the agency and GM found the vehicles were emitting more than 10% higher carbon dioxide on average than originally claimed in the automaker’s compliance reports.
GM disclosed in a regulatory filing earlier this year that it was negotiating with the EPA over the matter.
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