GE: Our Green Decisions Are Increasing Our Profits
WASHINGTON — Industrial conglomerate General Electric Co. says it has reduced its greenhouse gas emissions and is making a growing amount of money from its environmentally conscious business plan launched in 2005.
In the annual report of GE's "ecomagination" program, GE said its emissions of greenhouse gases from company operations were 13 percent lower than in 2005, reductions that came from initiatives like using alternative energy sources.
The Fairfield, Conn.-based company, one of the largest industrial producers in the world, acknowledged that some of the reason for fewer emissions was linked to the economic downturn, which has sapped factory production globally. But the company said that it still met its goal of reducing greenhouse gases even when economic conditions were factored in.
GE attributed $17 billion in revenue last year to the ecomagination program, composed largely of business lines that it deems to be environmentally conscious. That includes energy-efficient light bulbs, more fuel-efficient train locomotives and wind power turbines. Those results were 21 percent higher than when the program began. GE has now expanded ecomagination to include about 80 products and services.
That revenue is still a small share of the $183 billion the company took in overall last year. But GE has made a push recently to tap environmental markets, including what it estimates is about $400 billion worth of stimulus spending devoted to environmental projects worldwide.
Loading comments…
May 27, 2009 12:09 AM EST |