GE confirmed its ongoing commitment to bring to market new technologies by highlighting its ‘Ecomagination’ initiative aimed at helping its customers meet pressing environmental challenges.
The commitment was highlighted at the United Nations Environmental Programme (Unep) exhibition and forum on environmentally sound technologies held recently in Dubai.
“Ecomagination is GE’s commitment to address challenges such as the need for cleaner, more efficient sources of energy, reduced emissions and abundant sources of clean water,” said Nabil Habayeb, GE’s president and CEO, Middle East and Africa.
Already a leader in energy-efficient power generation technologies, renewable energy technologies, water purification, energy-efficient consumer appliance and lighting products, the introduction of Ecomagination has driven GE to double its investment into research into cleaner technologies which will see an investment of $1.5 billion annually by the year 2010, up from $700 million in 2004.
GE will double its revenues from products and services that provide significant and measurable environmental performance advantages to customers – from $10 billion in 2004 to at least $20 billion in 2010 with more aggressive targets thereafter. These products include renewable sources of energy such as wind and solar; technologies and materials that make energy production and consumption more efficient; and products and services that conserve or purify water.
In addition to helping customers meet their environmental goals, GE has committed to reduce its greenhouse gas (GHG) emissions by 1 percent by 2012 and the intensity of its GHG emissions 30 per cent by 2008 (both compared to 2004). Based on the company’s projected growth, GE’s GHG emissions would have risen 40 per cent by 2012 without further action.
In the Middle East, the GEnx engine - which will power the Airbus A350 and Boeing 787 - is a prime example of GE’s Ecomagination technology. The GEnx engine is 15 per cent more energy efficient, significantly quieter and has lower emissions than predecessors.
“GE is committed to the success of its customers,” Habayeb said. “When they win, GE wins. Our customers deal with some of society’s toughest environmental and sustainability challenges. Ecomagination will produce products that help customers find the right solutions to these issues. That’s good for the environment and good for business.”
Kofi Anan, UN Secretary-General, toured stalls at the exhibition.
