Supported by a leading environmental group, new publicity campaign and heavyweight corporate partners, EnviroCitizen.org discovered that General Electric unveiled its plans to increase its technology research funds by 100%. This is to cater to research on pollution, emission and energy use tied to climate change and global warming. This is one of the world's largest conglomerates that stated how it's "ecomagination" campaign aims to double the revenues from the company's environmentally-friendly products.
General Electric's commitment to address the different challenges such as the need for more efficient energy sources, for abundant sources of clean water and for reduced emissions is then delivered by its "ecomagination" campaign. With this, the company plans to make more money through campaigns in making their green business greener.
According to GE Chairman Jeff Immelt, reduced emissions are often translated into lower fuel and energy costs. As a big player in sustainability and renewable energy, General Electric states that the company would concentrate more on wind and solar power as well as other environmental technologies which the company is already involved in. This includes lower emission aircraft engines, diesel-electric locomotives, water purification and more efficient lighting.
GE's "ecomagination" campaign is supported by World Resources Institute head Jonathan Lash and other executives from American Electric Power, Canadian Pacific Railway, Boeing as well as Delphi, Cinergy and Pardee Homes. This is a very important step to some of the most important companies of the world. It is encouraging General Electric to put much emphasis on its research on cleaner and greener technologies, for a more meaningful as well as serious commitment to accomplish the stabilization of greenhouse gas and thus, contribute to global warming and climate change. NRDC's energy program director Ralph Cavanagh described the "ecomagination" campaign as a very important action because General Electric is the most important actor in terms of impact and influence on energy as well as on environment research and development.
The goals of General Electric for going green include the following:
- $1.5 billion annual investments in cleaner and greener technologies research and development by 2010. This is up from the $700 million investments in 2004.
- Double the revenues from its products and services to provide measurable and significant environmental performance benefits to customers. This target figure is a lot compared to the $10 billion revenue in 2004. This is possible through GE's 17 products in order to meet the campaign's criteria which range from water purification, cleaner transportation to renewable energy.
- Reduce General Electric's own emissions which are tied to climate change and global warming by at least 1%.
EnviroCitizen.org hopes that other companies will take GE’s lead and put forth more effort to support green, eco-friendly initiatives.