Tuesday, July 6, 2010

GE's Investments in Green are Paying Off

General Electric Co. (GE) said revenue from its green products and services will grow at twice the rate of total company revenue in the next five years.

GE recently announced that its plan to invest $5 billion into energy efficient and environmentally oriented projects has been met a year ahead of schedule. It also said it is committed to spend an additional $10 billion by 2015.

GE's portfolio of greener products and services is now up to 90, ranging from aircraft engines, locomotives and wind turbines to energy-efficient home improvement loans.

GE's annual report indicated that revenues from its "ecomagination" program increased 6 percent to $18 billion in 2009 and that it has reduced emissions of greenhouse gases.
The company said its $5 billion investment has generated revenue of $70 billion (GE's revenue totaled $156.8 billion last year).

According to Jeffrey Immelt, GE's chairman and CEO, and Steven Fludder, vice president of ecomagination,"We are doubling down to drive even faster impact and to deliver our contribution to a 21st century energy transformation."

GE is helping to solve the world's biggest environmental challenges while driving profitable growth for GE and its customers.

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