2Sustain

Yesterday, I blogged about how sustainability initiatives can give your business a competitive edge during downturns in the market, and now there’s big news from GE that supports this strategy.

GE recently announced that revenues from its ecomagination initiative will rise 21% to $17 billion in 2008. GE introduced ecomagination, an array of energy efficient and environmentally-friendly products and services, back in May 2005, and according to a press release, the ecomagination initiative reflects the corporation’s commitment to conceive and construct pioneering technologies that help customers address their environmental and financial needs while also helping GE grow.

GE reports that revenue acceleration has come from across the ecomagination product portfolio, and includes increased sales in a variety of products, such as advanced jet engines, water desalination products, wind turbines, Energy Star appliances, and an energy-efficient MRI system (to name a few).

In addition, GE also announced that it will invest $1.4 billion in clean R&D (doubling its current investment and nearing the $1.5 billion annual ecomagination R&D target by 2010), while continuing to improve energy efficiencies, lower GHG emissions, and reduce water use throughout its global operations.

The comments from GE Chairman and CEO Jeff Immelt put it all into perspective, I think. “There is a green lining among the current economic stormclouds and GE customers and investors are benefiting,” he says. “Cleaner innovation and technology resonate in the marketplace, while we slash our own energy and water costs and emissions, further strengthening GE’s competitive position and the advantage GE offers to its customers.”

For more discussion about how “green” can help turn around the current economic crisis, check out Tom Friedman’s latest op-ed in the New York Times. “We can’t afford a financial bailout that also isn’t a green buildup — a buildup of a new clean energy industry that strengthens America and helps the planet,” he writes. It’s a great piece that includes some clear directives for our legislators in Washington.