General Electric agrees to Net-zero by 2050 Target 

By OEM Update Editorial July 17, 2021 2:11 pm IST

Commitments include reducing emissions from its energy generation and aircraft engine products.

After a 98 percent shareholder vote on an ‘As You Sow’ resolution, General Electric (GE) announced a major commitment to transition its business to address climate change by setting a target to achieve net zero carbon emissions by 2050. This target not only encompasses GE’s operations but importantly includes its Scope 3 emissions from customers’ use of the products it sells, including power generation equipment, which account for a significant portion of the company’s emissions.

This announcement marks an important shift in GE’s business plans as a major manufacturer of fossil fuel power generation technologies, including thermal power plants and jet engines.

GE announced in late 2020 that it will exit the new build coal power market.

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