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“Our long-term partnership … has been essential to the development, implementation, and success of ecoimagination, GE’s strategy to drive growth through environmental innovation.”

- Jeffrey R. Immelt, Chairman & CEO, General Electric

 

USING GREEN AS A SOURCE OF GROWTH

Since mid-2004, Cleantech Group has been the principal advisor to GE at the highest levels on the creation, implementation, and ongoing development of its award-winning, multi-billion dollar ecomagination initiative.

GE’s Challenge

GE retained Cleantech Group to help:

  • Address customer needs: Meet growing customer demand for more energy efficient products with associated environmental benefits
  • Devise a consistent strategy: Create a strategy to create value from clean tech and environmental innovation that reinforces GE’s business strategy
  • Promote innovation: Increase innovation in product design around energy and environmental challenges
  • Maintain Leadership: Build on ecomagination’s initial success (2005-2010) to broaden the strategy and further extend GE’s leadership in clean tech and corporate sustainability

Cleantech Group’s Approach:

To tackle these challenges, Cleantech Group has focused on:

  • Strategy: Helped create ecomagination strategy to encourage the development of and qualify GE products that deliver significant operating and environmental benefits to customers.
  • Green marketing: Provide in-depth technical analysis and verification of ecomagination marketing claims along with ongoing green marketing counsel
  • Stakeholder engagement: Connect GE to critical stakeholders in government, the NGO community, and the private sector to create future opportunities. Facilitate an ecomagination Advisory Board of external experts
  • Business unit support and product development: Provide training to ecomagination leaders across GE, conduct ecomagination growth strategy workshops, and partner on development of new products including the first US credit card to offer CO2 offsets

Results

GE’s ecomagination initiative has:

  • Achieved over $18B in ecomagination revenue and $1.5B in related R&D in 2009 across a portfolio of more than 90 products and services
  • Cut GE annual energy costs over $130M while reducing greenhouse gas emissions and water usage
  • Enabled innovative partnerships (e.g., GEGoogle on smart grid), productive government engagement, and greater collaboration across GE’s businesses
  • Strengthened commitment for 2010-2015, including a $10B goal for clean tech R&D