GE recently reported that revenues from its portfolio of energy efficient and environmentally advantageous products and services exceeded $12 billion in 2006, up 20% from 2005, while the order backlog rose to $50 billion.
"Ecomagination is growing beyond our expectations, evolving into a sales initiative unlike any other Ive seen in 25 years at GE," said GE Chairman and CEO Jeff Immelt.
Launched in May 2005, ecomagination is GEs commitment to imagine and build innovative technologies that help customers address their environmental and financial needs and help GE grow.
Specifically, GE made the following progress on each of its ecomagination commitments in 2006:
- Double its investment in clean research and development -- GE invested $900 million in cleaner technology research and development in 2006, drawing closer to its $1.5 billion annual ecomagination R&D target by 2010. GE also increased the number of ecomagination-certified products 50% over the last year -- from 30 to 45 products.
- Increase revenues from ecomagination products -- GE reported $12 billion in revenues from ecomagination products and services in 2006, on course to the goal of $20 billion in sales in 2010.
- Reduce its greenhouse gas (GHG) emissions and improve the energy efficiency of its operations -- GE GHG emissions in 2006 from operations have been reduced by about 4% from the 2004 baseline. GHG and energy intensity have been reduced by 21% and 22% respectively compared to 2004. GE is committed to reduce its GHG emissions 1% by 2012, reduce the intensity of its GHG emissions 30% by 2008, and improve energy efficiency 30% by the end of 2012. Roughly 5,000 global projects are under way and have already generated more than 300,000 tons of GHG emissions reductions -- equal to removing more than 50,000 cars from the road. Energy cost savings to the Company are roughly $70 million to date.
- Keep the public informed -- GE continues to transparently apprise the public of the Companys progress via its ecomagination web site, advertising and engagement with customers and other stakeholders.
GEs ecomagination report is available at www.ecomagination.com/report, where readers are encouraged to download and read the electronic edition. To incentivize this online model, GE will plant one tree for each of the first 10,000 downloads.
As part of its commitment to keep the public informed on ecomagination, GE is encouraging feedback on the report through [email protected].
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