Global report highlights partnerships in Egypt and the UAE as an emerging leader in sustainability action
Dubai, UAE; August 16, 2023: GE (NYSE:GE) recently released its annual Sustainability Report, showcasing progress to date on its sustainability and diversity, equity, and inclusion (DEI) programs. The report, which underlines GE’s commitment to address the most pressing sustainability needs of the world, revealed that the company invested USD 4.2 billion in R&D activities in 2022 to advance energy efficiency and drive transformative action.
As GE becomes two separate, industry-focused companies in 2024, having successfully completed the spin-off of GE HealthCare earlier this year, sustainability remains at the core of the GE legacy. By leveraging leading technology, GE’s portfolio of energy businesses, now called GE Vernova, helped to generate approximately 30% of the world’s electricity; and in aviation, nearly three billion people flew in airplanes powered by GE Aerospace or partnership engines.
Committed to electrification and decarbonization in parallel, GE Vernova continues to meet the rising global demand for more sustainable, reliable, and affordable electricity, while working toward the decarbonization of various industrial sectors. Through the deployment of onshore and offshore wind turbines, highly efficient gas turbines, next generation nuclear, as well as advanced technology to modernize and digitize electric grids, GE and its customers are working on decarbonizing smartly and efficiently.
In the aerospace sector, a plane equipped with a GE Aerospace or partnership engine took to the skies every two seconds last year. The company’s development of the next suite of engine technologies with advanced aerodynamics, engine architecture, and materials technology have led to reduced GHG emissions and substantial improvements in fuel efficiency. GE Aerospace’s continued support for industry initiatives to approve and adopt 100% Sustainable Aviation Fuel (SAF) will also be vital to meet the decarbonization goals of the airline industry and pave the way for a more efficient future of flight.
Commenting on the report, Dr. Dalya Al Muthanna, President – UAE and Global Head of Operations & Strategy, GE International Markets said: “Our deeply embedded sustainability priorities have led to tangible progress in 2022. Our integrated solutions are helping to drive the transition to a cleaner energy future and define flight for the next generation. The 2022 GE Sustainability Report demonstrates the meaningful role GE is playing globally to advance innovation, foster collaboration and create long-term value to not only shape a better future for the company but also contribute to a more sustainable world.”
In the MENA region, the global report cited work GE has supported in both the UAE and Egypt as tangible examples of how the company is working toward a more sustainable tomorrow. Last November during COP27 in Egypt, GE Vernova supported the country’s decarbonization initiatives by running a gas turbine on hydrogen-natural gas blended fuel for the first time for the African continent. The company also signed an agreement with Egyptian Natural Gas Holding Company and Seasplit Technologies for the industrial decarbonization of the Gulf of Suez, and pursued decarbonization of select operating downstream facilities in the country.
The report highlights the importance of unified, global action for industry to combat climate change and has pointed to the emergence of the UAE as a leading influencer of the world’s sustainability efforts. Citing the nation’s efforts in operating the first flight in the Middle East using 100% Sustainable Aviation Fuel (SAF) in one of its two GE Aerospace GE90 engines, the report emphasized the UAE’s pioneering efforts. Also mentioned is GE Vernova’s support for the UAE Net Zero by 2050 Strategic Initiative through an agreement with Emirates Global Aluminium (EGA) to upgrade four existing GE 9F gas turbines and reduce greenhouse gas emissions by up to 74 thousand tons annually. As host of the upcoming 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), the UAE is playing a key role in shaping the climate discussion and GE is proud to be a supporting partner.
The comprehensive report also underlines that GE’s progress in driving positive environmental and social impact around the world is being achieved through the company’s strong focus on DEI. The company’s workforce is comprised of teams from around 170 countries, territories, and regions. Two of four GE Board Chair positions are currently held by women, and ongoing efforts are underway to engage diverse talent and foster an inclusive culture, promote gender equality, and advance opportunities for underrepresented communities.
