It’s been a decade since General Electric, on May 9, 2005, launched Ecomagination, its marketing play with an environmental focus.

 

10 years later, GE chairman and CEO Jeff Immelt stood at a podium in Washington, D.C., to announce a new initiative to "focus our unique energy, technology, manufacturing and infrastructure capabilities to develop tomorrow's solutions such as solar energy, hybrid locomotives, fuel cells, lower-emission aircraft engines, lighter and stronger materials, efficient lighting and water purification technology.”

 

The company set five-year R&D, emissions and revenue goals, all of which it surpassed. Its $5 billion target to invest in cleaner products was met in 2009; a year later it upped the ante by another $10 billion, for a total R&D commitment of $15 billion. In 2009, the company reported $18 billion in revenue for Eco products and said, “Ecomagination revenue will grow at twice the rate of total company revenue in the next five years.” Annual Eco revenue in 2013 was $25 billion, and cumulatively reached $200 billion since the program's inception, according to numbers just released by the company.

 

For the full article and an interview with Jeff Immelt click here.

 

 

PHOTO: Jeffrey Immelt, GE Chairman and CEO, launches Ecomagination, in 2005.