GE Vernova : releases inaugural Sustainability Report
GEV
CAMBRIDGE, Mass. (September 18, 2024) - GE Vernova Inc. (NYSE: GEV) today released its first-ever sustainability report as a stand-alone company, detailing how it is making progress on its mission to electrify and decarbonize the world. The report explains GE Vernova's innovative approach to sustainability and outlines ambitious goals built around a four-pillar framework - Electrify, Decarbonize, Conserve, and Thrive. The report also offers an overview of GE Vernova's broad portfolio of energy solutions across Power, Wind, and Electrification segments, as well as its Accelerator businesses.
"GE Vernova's purpose and mission to electrify and decarbonize the world has never been clearer or more urgent," said Scott Strazik, CEO of GE Vernova. "Sustainability is at our core as a company and as a team. We see incredible opportunities for our sustainability framework to create economic value, growth, and performance while at the same time serving the world."
Some key highlights from the four-pillar sustainability framework include:
The new report expands on the company's sustainability efforts and its approach to sustainability operations through a new management system called "Control Room." Modeled after the complex nerve centers that manage the world's most complex machine, electrical grids, this sustainability management system builds on a rigorous corporate DNA of lean, governance, impact assessments, and sustainability education, all targeting goals aligned to the United Nations Sustainable Development Goals (UN SDGs).
"We recognized that we needed to build a new, modern sustainability program for a new, modern sustainability company." said Roger Martella, GE Vernova's Chief Sustainability Officer and head of Global Policy. "Our new Control Room encompasses our comprehensive approach to sustainability, including our Sustainability Framework, guiding principles, stakeholder engagement, and employs Lean to accelerate and sustain higher levels of performance through continuous improvement."
Along with the company's approach to sustainability, the new report offers a comprehensive overview of GE Vernova, its three business segments and accelerators:
GE Vernova
Power
Businesses: Gas Power, Hydro Power, Steam Power, Nuclear
Wind
Businesses: Onshore Wind, Offshore Wind, LM Wind Power
Electrification
Businesses: Grid Solutions, Electrification Software, Power Conversion, Solar & Storage Solutions
Accelerators
Businesses: Advanced Research, Consulting Services, Financial Services
For more information, please visit gevernova.com/sustainability and read the full Sustainability Report.
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[i] CO2 Avoided from new generating capacity online is a way of estimating carbon "avoided" by using lower-carbon technology when compared with the next likely alternative in a country or region. See p.47 of our 2023 Sustainability Report.
[ii] According to the American Clean Power Association
*All financial data provided in US dollars ($)
**Statistics reference numbers for GE Vernova in 2023 on a standalone basis unless otherwise noted.
About GE Vernova GE Vernova is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world's challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across 100+ countries around the world.
GE Vernova's mission is embedded in its name - it retains its legacy, "GE," as an enduring and hard-earned badge of quality and ingenuity. "Ver" / "verde" signal Earth's verdant and lush ecosystems. "Nova," from the Latin "novus," nods to a new, innovative era of lower carbon energy. Supported by the Company purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova's website and LinkedIn.
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Disclaimer
GE Vernova Inc. published this content on 18 September 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on September 18, 2024 at 12:22:06 UTC.