12. Ecology as a strategy, Ecomagination

Have you heard the word “Ecomagination”? It sounds unfamiliar. In fact, it is a compound word which is mixed with economy, ecology and imagination, and the word means that protecting our environment and developing new technology of clean energy for our pleasant future. Then, who is going to do it? To tell the truth, it is one of GE’s strategies for their business future. As a global company, GE has been trying to keep their protection of environment plans, and now they want to reinforce the plans.



GE has announced that they would invest huge amount of money to develop the technology so that the new business model, Ecomagination, could be their motive doing their business in the future. They think that they cannot avoid the environmental pollution if they want to expand their business into other countries. Also the company has a confidence that the new way of global management will be the only method of sustainable development in the future. One of employees of the company said that other company also should aware that solving the pollution problem could be a profitable business.

Last year, GE has made 14 billion dollar from the ecomagination business, and they expect that it will be more than 20 billion dollar in 2009. For that reason, they decided to enlarge the strategy and release new pledge of energy which is to reduce consuming water. In details, they mentioned that they will have reduced 20 percents of water which is used in their all factories by 2012. GE accepts that it would be difficult to reduce water as increasing their selling, but they also have will to achieve the goal.

They are still on the way to develop other ecology research such as saving energy, and it plans that the company will invest 1.5 billion dollar for R&D of clean energy. Nowadays we are suffering from energy problem in various ways, and the effort of GE developing new technology seems that the company is also faithful for their devotion for society. It might be good effect for their corporation image.



Reference: http://www.etnews.co.kr/news/detail.html?id=200805290237

Posted by 20300121 Kim, Jae-Yoon