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With environmental conservation being a big issue in the global economy today, pressure is growing on businesses worldwide to think green. Their common challenge is striking a balance between being environmentally conscious and generating revenue.
But General Electric, a multinational corporation with deep roots in energy-related businesses, is out to prove that being environmentally friendly can actually bring more financial blessings to profit-oriented companies.
At the heart of the thinking is "ecomagination," GE's own concept launched in May 2005, which serves as its motto, business agenda and philosophy. The "magination" part comes from the conglomerate's brand - "imagination at work." "Ecomagination stands for both ecology and economy; we believe that the mingling of business interests and environmental interests is smart," Lorraine Bolsinger, vice president of Ecomagination, said, "Ecomagination is our company's growth strategy to develop and deploy technology that can help our customers sustain growth and help them solve their tough environmental challenges, and in turn it helps our company grow as well."
GE, a U.S. conglomerate whose dynamic portfolio ranges from health care and TV programs to commercial finance and energy, said its renewed commitment to the environment is aimed at addressing global environmental challenges, such as the need for cleaner, more efficient sources of energy, reduced emissions and abundant sources of clean water. The timing could not be better for adopting such a strategy, given intensifying concerns over climate change and growing trends in environmentally friendly and organic products. Learn how all GE businesses can contribute to the environment.
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