Fairfield, Connecticut – GE (NYSE: GE) released its 2012 “Our Global Impact” update on June 28 showing the progress of the company’s ecomagination and healthymagination initiatives as well as measureable impact from its Citizenship efforts.
In 2012, GE invested nearly $ 2 billion in research and development for ecomagination and healthymagination innovations and projects with ecomagination offerings generating $ 25 billion in revenue. GE along with its employees and retirees gave $ 219 million to community and educational organizations, including $ 130 million from the GE Foundation.
GE Chairman and CEO Jeff Immelt said, “At GE, we work on things that matter. Solving problems for our customers and our communities is part of our business strategy and the backbone of our culture. We are proud of the responsible conduct of our businesses, the philanthropic activities of the GE Foundation, and the countless contributions our people make in their communities around the world.”
The report includes an update on commitments made through ecomagination, GE’s program to develop products and services with significant environmental advantages. They include:
- Double Investment in Cleantech Research and Development: R&D investments on ecomagination technologies in 2012 totaled $ 1.4 billion with overall R&D investment totaling more than $ 5 billion between 2010 and 2012, which is on track toward the company’s goal of a $ 10 billion cumulative investment between 2010 and 2015.
- Increase Revenues from ecomagination Products: In 2010, GE set an ambitious goal of growing revenues from ecomagination offerings at twice the rate of total company revenue in five years. In 2012, ecomagination met this objective with revenue totaling $ 25 billion.
- Reduce Greenhouse Gas (GHG) Emissions 25 Percent by 2015 and Improve the Energy Intensity of Operations 50 Percent by 2015: GE energy intensity improved 32 percent from the 2004 baseline year (measured as energy/$ revenue). Greenhouse gas emissions were reduced 32 percent from the adjusted 2004 baseline.
- Reduce Freshwater Use by 25 Percent and Improve Water Reuse: GE’s freshwater use was reduced 46 percent from the 2006 baseline.
Deb Frodl, Global Executive Director, ecomagination, GE, said, “Our ecomagination strategy is embedded in our research, our product development and our operations. It has helped our customers save billions of dollars while significantly reducing their environmental impact. By creating solutions that work today and account for local demands, ecomagination has generated more than $ 130 billion in revenue since 2005.”
The report includes an update on GE’s healthymagination commitments, which include:
- Invest in New Technologies and Business Models: Between 2009 and 2012, healthymagination and Oxford Analytical validated 66 products and solutions that strive to improve the quality, access and affordability of care. During this time, GE invested $ 3.5 billion in research and development for these types of innovations. In addition, GE Ventures-Healthcare invested in entrepreneurs and companies that accelerate innovation and make quality healthcare more accessible and affordable. GE Ventures-Healthcare now has more than 10 portfolio companies.
- Collaboration: healthymagination works with customers, governments, universities and industry leaders all over the world. Following the success of a community driven healthcare initiative launched with the city of Cincinnati, in 2012 GE announced similar efforts to Louisville, Kentucky, and Erie, Pennsylvania.
- Expand Employee Health Efforts: HealthAhead is GE’s health program designed to improve the health of its employees. By the end of 2012, more than 450 of GE’s largest sites were HealthAhead certified, meaning these sites met strict health requirements. In addition, GE achieved 100% tobacco free campuses, and approximately 30,000 employees enrolled in lifestyle change programs.
Sue Siegel, CEO, healthymagination, GE, said, “healthymagination is about better health for more people. We made great progress in 2012 investing in GE research & development, expanding our investments in GE Ventures-Healthcare portfolio companies and convening active discussions on community health; however, we’re not settling there. healthymagination continues to explore and invest in the future of healthcare.”
The report also includes results from GE’s comprehensive Corporate Citizenship reporting platform that tracks the company’s progress against nearly 60 citizenship commitments, including ecomagination and healthymagination metrics. Highlights for 2012 include:
- GE along with its employees and retirees committed more than $ 219 million to community and educational organizations in 2012 – an increase of more than 10 percent over 2011. The company and its employees surpassed $ 1 billion in charitable donations through its matching gifts program. An estimated 1.3 million GE volunteer hours were contributed through 7,400 company-sponsored initiatives in 2012.
- The GE Foundation’s Developing Health program expanded its reach, adding 32 new health centers in 14 U.S. cities – today the program includes 100 health centers in 32 U.S. cities. Together with the GE Foundation’s Developing Health Globally program, the company is also helping increase access to healthcare through 300 health centers in 14 countries, touching approximately 15 million lives.
- For the second consecutive year, GE co-chaired the B20 Working Group on Improving Transparency and Anticorruption, which provided G20 recommendations for measures to reduce both the supply and the demand side of corruption.
All initiatives aim to keep the public informed. GE is continuing ongoing communications to engage with the public. The company maintains updated websites where people can learn more and engage in a dialogue about GE, its customers and its diverse stakeholders. GE ensures strong disclosure by holding more than 300 analyst and investor meetings annually.
GE’s Global Impact Report is available at www.ge.com/globalimpact.
Source: GE.
