EXECUTIVE INSIGHT
Sustainability is core to what we do . Our business purpose is a sustainability purpose – they ’ re one and the same . My role primarily is to take the success we ’ re having as a company for our shareholders and our employees and to align that to success for our sustainability framework , which focuses on electrification , decarbonisation , conserving and thriving . It ’ s this alignment that I try to drive – how do we take our business success and align that to success for our broader purpose in the world ?
GE Vernova customers generate
25 %
of the world ’ s electricity using its installed base of technologies
Q . IS IT A BALANCING ACT TO ENSURE THAT YOUR OUTPUT MAKES BUSINESS SENSE WHILE SUPPORTING YOUR CUSTOMERS AND THOSE WHO BENEFIT FROM YOUR SERVICES ?
» Yes . Focusing on electrification first , we continue to see the world demonstrate an increasing need for energy . How do we meet the growing need for energy so that places can be economically competitive ?
We ’ re the first company to put electrification as part of its sustainability framework . In our report we ’ re also the first company to identify metrics to reinforce the importance of electrification . We report on the amount of capacity we ’ re putting on the grid , the amount of transformers we ’ re electrifying and report a breakdown between emerging economies and industrialised nations . We think it ’ s so important that we ’ re not just answering the phone in the order in which it rings , but that we ’ re doing a deep dive into emerging economies so that everybody has access to affordable , reliable and sustainable electricity .
For example , we put 29GW of capacity on the grid in 2023 – that ’ s equivalent to the power of Massachusetts , Rhode Island and Connecticut . But we don ’ t want to just electrify the grid , we need to decarbonise it at the same time .
Like other companies we have a 2050 net zero target , but we don ’ t think that ’ s enough . Instead , we think creatively about how we can reflect some metrics that would demonstrate progress sooner this decade . How can we show that we can make progress to put more capacity on the grid , but improve the trajectory of climate change ?
We ’ re proposing first-of-its-kind metrics to demonstrate not only net zero by 2050 but how we can make progress to improve the trajectory of climate change this decade while we ’ re electrifying .
One is carbon intensity . We show that by putting more of our power equipment on the grid .
72 February 2025