GE Vernova Inc.
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:1.63 million metric tons of CO2 equivalent
Scope 1 Emissions:0.67 million metric tons of CO2 equivalent
Scope 2 Emissions:0.96 million metric tons of CO2 equivalent
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:5,670,000 MWh
Water Consumption:4.29 billion gallons
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Safety of our people
- Lifting up our communities
- Environmental stewardship
- Commitment to human rights
- Driving decarbonization through the energy transition
- Smarter and more efficient future of flight
Environmental Achievements
- Scope 1 and Scope 2 greenhouse gas emissions are down 28% compared to the 2019 baseline.
- LM Wind Power produced its first 100% recyclable blade.
- A GE LM6000 aeroderivative gas turbine successfully operated on hydrogen–natural gas blended fuel at the Sharm El Sheikh Power Plant.
- New hydro power plant in Jinzhai, China, is now online and providing 1.2 gigawatt (GW) of power, saving up to 120,000 tons of coal and reducing 240,000 tons of CO2 emissions every year.
Social Achievements
- Received the 2022 Best Employers: Excellence in Health & Well-being Award from the Business Group on Health.
- Received the Excellence in Global Health & Well-being Award.
- GE provided crucial support to Ukraine during the ongoing war, delivering a GE TM2500 aeroderivative gas turbine that can power over 100,000 Ukrainian homes.
- GE Foundation’s Safe Surgery 2020 program continues to increase medical oxygen accessibility to patients, supports anesthesia training, expands medical teleeducation, and strengthens health facilities.
Governance Achievements
- Released GE Human Rights Report in 2022.
- GE’s political spending has declined in recent years and, in 2022, GE did not contribute any corporate funds to political campaigns.
Climate Goals & Targets
Long-term Goals:
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Medium-term Goals:
- Not disclosed
Short-term Goals:
- Carbon neutral in own operations (Scope 1 and 2 emissions) by 2030
Environmental Challenges
- Inflationary pressure
- Geopolitical conflict
- Global supply chain challenges
- Severe weather events threatening energy reliability
- Risks from cybersecurity
- Growing variability from renewable energy
- Need to harden the grid
Mitigation Strategies
- Accelerated a culture of continuous improvement
- Developed alternative sourcing strategies
- Launched GridOS®, the world’s first grid orchestration software
- Investing in grid hardware and software enhancements
- Implementing detailed cybersecurity and information protection policies
Supply Chain Management
Supplier Audits: 6,482 total global audits in 2022
Responsible Procurement
- Supplier Responsibility Governance program
- Supplier Integrity Guide
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
Transition Risks
- Regulatory changes
- Market shifts
Opportunities
- Development of energy-efficient products
- Growth in renewable energy
Reporting Standards
Frameworks Used: TCFD, SASB, GRI Standards (Core)
Certifications: ISO 14001
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- SDG 7
- SDG 8
- SDG 9
- SDG 10
- SDG 11
- SDG 13
GE's initiatives contribute to these goals through providing more sustainable, reliable and affordable energy, decent work, infrastructure development, reduced inequalities, sustainable cities and climate action.
Sustainable Products & Innovation
- Haliade-X wind turbine
- HA gas turbine
- BWRX-300 small modular reactor
- GE9X aircraft engine
- CFM LEAP engine
Awards & Recognition
- 2022 Best Employers: Excellence in Health & Well-being Award
- Excellence in Global Health & Well-being Award
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Electrify
- Decarbonize
- Conserve
- Thrive
Environmental Achievements
- Reduced Scope 1 and 2 (market-based) emissions by 39% vs. 2019 baseline
- Avoided approximately 20 million metric tons of CO₂ emissions from generating capacity brought online in 2023 by using lower-carbon technology
Social Achievements
- Conducted more than 600 total global audits, approving approximately 580 suppliers following its Supplier Responsibility Governance (SRG) program
- Donated over 20,000 GE Vernova employee volunteer hours, with more than 1,300 global non/profits supported
- Next Engineers program facilitated over 7,500 student engagements
Governance Achievements
- Introduced a new sustainability management system called “Control Room”
Climate Goals & Targets
Long-term Goals:
- 2050 net zero ambition
Medium-term Goals:
- 90% of its top products covered under 4R circularity framework by 2030
Supply Chain Management
Supplier Audits: more than 600 total global audits
Responsible Procurement
- Supplier Responsibility Governance (SRG) program
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: UN SDGs