GE Ecomagination

Ecomagination is General Electric's (G.E.) growth strategy to design and build products that benefit customers and society in an ecologically friendly way. It is based on four commitments:

# The company has pledged to spend 1.5 billion a year on research in cleaner technologies by 2010, doubling the $700 million it spent in 2005. The new technologies include wind power generation, diesel-electric hybrid locomotives, more-efficient aircraft engines and appliances, and advanced water treatment systems. Other products in this category include "cleaner coal" technologies and wire coating with "fewer heavy-metal pigments". (see full list on GE's page). Although a doubling of R&D budgets in clean technologies sound impressive, this increase is consistent with a straight line prediction of global R&D budgets growth (GE total R&D grew from 2.6 billion in 2002 to 3.5 billion in 2005[http://www.ge.com/research/grc_7_3.html (GE R&D site)])
# GE plans increased revenues from ecomagination products - to at least $20 billion in 2010, with higher targets thereafter.
#The company will reduce its greenhouse gas (GHG) emissions and improve the energy efficiency of its operations - including reducing the intensity of its GHG emissions 30% by 2008, and improving energy efficiency 30% by the end of 2012 (all compared to 2004). This will amount to an absolute total decrease of 1% from 2005 emissions.
# GE will publicly report its progress in meeting these goals.

This strategic business investment by one of the world's largest corporation serves as evidence that money and jobs can be created by operating in an ecologically sound manner. One example of the environmental benefit flowing from the Ecomagination strategy is in wind power. The company has a global installed base of wind turbines that provides enough energy to power 1.5 million U.S. homes. This is the equivalent of 9.5 million barrels of oil each year. The annual reduction in greenhouse gas emissions is 11.4 million tons.

General Electric is a huge conglomerate with many business units. In terms of market capitalization, G.E. is the world's second largest company.

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