GE's 2022 Sustainability Report indicative of transformative era of action

July 07, 2023 | 12:46
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GE's newly released 2022 Sustainability Report showcases its environmental, social, and governance (ESG) activities over the past year, emphasising the company’s commitment to sustainability and its transformative era of action.

As GE progresses towards its final separation, the company's Sustainability Report plays a vital role in upholding its public record of sustainability reporting and reinforcing its dedication to ESG principles.

The 2022 report highlights noteworthy achievements at GE Vernova and GE Aerospace across several important domains, including climate change, product safety and quality, product stewardship, and diversity and inclusion.

GE's 2022 Sustainability Report indicative of transformative era of action

With a $4.2 billion investment in global research and development in 2022, GE has solidified its commitment to driving the energy transition and enabling a smarter and more efficient future of flight. GE’s technology plays a pivotal role in generating the world’s electricity, and its engines power three out of every four commercial flights globally.

GE Vernova, responsible for approximately 30 per cent of the world’s electricity generation, is pushing forward with decarbonisation and the energy transition. The report highlights GE Vernova’s initiatives, including emissions reduction and renewable energy installations.

GE Aerospace, committed to carbon neutrality by 2030, focuses on energy-efficient infrastructure, waste energy reduction, and exploring low-carbon, sustainable aviation fuel to achieve its ambitious goals.

The report also emphasises the company’s commitment to credibility, continuous learning, collaboration, and innovation as the foundation of its net-zero principles. GE recognises that no single company can solve the complex sustainability challenges alone, and welcomes collaborations with stakeholders to achieve shared success.

In addition, it has made significant progress in reducing its carbon footprint, achieving a remarkable 28 per cent reduction in Scope 1 and 2 emissions compared to 2019. The report provides updated technology roadmaps, outlining the company’s ambitious net-zero goal for 2050, particularly focusing on Scope 3 emissions from the use of its products in the market.

Furthermore, the report outlines GE’s active involvement in policy engagement and thought leadership on climate action, such as advocating for clean energy tax credits and showcasing corporate leadership at COP27.

As a business, it places a strong emphasis on product safety and quality. The report offers detailed insights into the company’s robust programmes and initiatives, highlighting its pursuit of safety, quality, delivery, and cost excellence.

GE has made considerable progress in achieving its product stewardship targets. While acknowledging the need for continuous improvement, the report showcases its ongoing efforts and dedication to strengthening its initiatives in this area.

Building on the release of separate 2021 reports, GE integrates diversity, inclusion, and human rights into its Sustainability Report. This inclusion demonstrates the company’s commitment to fostering a diverse and inclusive work environment and upholding the human rights of all.

GE prioritises environmental justice by ensuring strong environmental protection in all the communities where it operates. The report points out GE's efforts to provide sustainable, reliable, and affordable electricity, supporting clean-up and redevelopment initiatives and partnering with local stakeholders to create sustainable economic development.

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