General Electric

"The net zero target of General Electric Company is to become a net zero company by 2050. Net Zero Tracker
This includes not only their own operations but also the Scope 3 emissions associated with the use of their sold products. Net Zero Tracker
They also aim to be carbon neutral in their own Scope 1 and Scope 2 greenhouse gas emissions by 2030. Net Zero Tracker
An interesting fact about their environmental policy is that they have a publicly available plan that lays out steps toward their target, including measures for all emission scopes covered by the target. Net …"

Current Score (vs. LY)

17.8 pts (0.0)

Last Update: Dec. 12, 2023

Current Rankings

Global: #195

S&P100: #95

Industrials: #28

Transparency

Quality of climate reporting based on public disclosures, completeness and verification of GHG emissions

Commitments

Level of ambition through gross absolute emissions reduction and 'net zero' targets

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

Y2021Y2020Y2019
Scope 1 740,000730,0001,000,000
Scope 2 - location-based NANANA
Scope 2 - market-based 1,070,0001,160,0001,390,000
Scope 1-2 - location-based 740,000730,0001,000,000
Scope 1-2 - market-based 1,810,000 1,890,000 2,390,000
Scope 3 505,000,00000
Total - location-based 505,740,000730,0001,000,000
Total - market-based 506,810,000 1,890,000 2,390,000

Note: Data sources detailed here

Y2022 Y2021
Total CO2e estimate (by Net0Tracker) 98,638,186508,979,029
Methodology Pre-calculated sector intensity (revenue)Pre-calculated sector intensity (revenue)

Carbon emissions are estimated according to comparable years, intensity and sector benchmarks

Performance vs. Target

Note: Targets without baseline are ignored. In case several targets exist, only the shorter-term target is displayed.


Value Chain (scope 3) Emissions by Category

Emissions Trajectory (Full Scopes)



Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Sector Benchmark

Note: Latest GHG and revenue data (based on tradingview.com) are used to calculate GHG emissions intensity by sector. The color scale of each bubble depends on the GHG intensity (GHG emissions per 1 million USD revenue). Sectors follow the Global Industry Classification Standard (GICS) that organize companies based on their primary business activities. The 11 sectors are : Information Technology, Health Care, Financials, Consumer Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and Materials.

General Electric belongs to the sector Industrials.

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Reduction and Net Zero Targets

>Note: intensity targets are not represented in the current version - see Methodology

Gross Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email



Net Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email



Net Zero Future Commitments

Scope Scope 3 Coverage Target Year Comments
S1S2MKT NO 2030
S3 PARTLY 2050


Science-based Targets (SBTI)

There is no Science-Based target recorded in our database. Email us to report missing information Email

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Offsets

Last update for General Electric Company by zerotracker.net: July 3, 2022
Planning to use external offset credits Yes
Separate targets for emission reductions and removals No
Conditions on use of offset credits
  • Must be high environmental integrity
  • Other conditions
Plans for carbon dioxide removal (CDR) Yes (CCS-based removals e.g. BECCS, DACCS)

Additional notes: "only for the unavoidable emissions that remained, we offset emissions by purchasing carbon credits that fund emission reduction projects worldwide and supporting wider Sustainable Development Goals. While recognizing the value of carbon offsetting to deliver immediate large-scale impact, our focus and priority is on emission reductions in our value chain and we are in the process of setting specific reduction targets for our operational emissions and beyond." - https://www.ge.com/renewableenergy/about-us/carbon-neutral "To compensate for unavoidable emissions and balance our footprint to net-zero, we secured the required carbon credits that fund emission reduction projects worldwide. The offsets are certified to the highest standards, including the Clean Development Mechanism, Verified Carbon Standard as well as the Gold Standard. Our portfolio is comprised of projects that have measurable impact on the Sustainable Development Goals and provide renewable energy access, install clean cookstoves or capture methane from landfill gas." "We anticipate that the majority of our progress toward meeting our 2030 goal will be achieved through absolute reductions of direct emissions and energy use achieved through operational investments, smart power sourcing, and elimination of waste" - https://www.ge.com/sites/default/files/ge2020_sustainability_report.pdf "Looking forward, we will work to lead innovating breakthrough technologies for the future such as small modular nuclear reactors, carbon capture, hydrogen as a fuel, greater access to precision health, and a broad suite of technologies for air travel." https://www.ge.com/sites/default/files/ge2020_sustainability_report.pdf#page=36

Data source from zerotracker.net - For more information, see methodology

Score Summary

Ref Principle Score
(points)
Max
(points)
Delta
(points)
1 At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified 5.0 10.0 0.0
2 Scope 3 emissions are fully reported and externally-verified 2.5 10.0 0.0
3 CDP score demonstrates the level of transparent disclosures 4.0 10.0 0.0
Transparency 11.5 30.0 0.0
4 Net Zero Commitments by 2050 include an intermediate target and cover all the emissions 3.0 10.0 0.0
5 Net Zero targets demonstrate a high-level of emergency 3.333333333333334 10.0 0.0
6 Emission reduction targets on a forward-looking basis are ambitious 0.0 10.0 0.0
7 Targets are science-based as validated by SBTi 0.0 10.0 0.0
Commitments 6.333333333333334 40.0 0.0
8 Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
9 Results re. value chain emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
10 Implied Temperature Rating by MSCi 0.0 10.0 0.0
Results 0.0 30.0 0.0
Total 17.8 100.0 0.0


Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email


Score Details

Criteria Results 2023 Score 2022 Score Vs. 2022 2021 Score
Criteria 1 : Transparency on operational emissions (Scope 1 + 2)
Are S1+S2 figures publicly-disclosed for the last reporting year and the preceding period? yes 5.0 / 5.0 5.0 0.0 5.0
Are S1+S2 figures verified by a 3rd-party for the last reporting year? NC 0.0/ 5.0 0.0 0.0 0.0
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed? partly 2.5 / 5.0 2.5 0.0 0.0
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year? NC 0.0 / 5.0 0.0 0.0 0.0
Criteria 3 : Quality and Frequency of reporting
What is the latest CDP score (no later than the preceding year)? D 4.0 / 10.0 4.0 0.0 6.0
How many interim reporting were provided between 2 reporting periods (GHG emissions only)?
Criteria 4 : Net Zero Commitments
Does the net 0 target include a statement of a generally-accepted net zero emission target by 2050? yes 3.0 / 3.0 3.0 0.0 0.0
Does the net zero target include an intermediate target by 2030? NC 0.0 / 3.0 0.0 0.0 0.0
Does the net zero target include all the emissions? NC 0.0 / 4.0 0.0 0.0 0.0
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2? 2030 3.3 / 5.0 3.3 0.0 0.0
Target year for achieving net zero emissions for S1+S2+S3 combined? NC 0.0 / 5.0 0.0 0.0 0.0
Criteria 6 : Reduction objectives
What is the forward-looking GHG% reduction (without compensation) for scope 1+2?
0.0 / 5.0 0.0 0.0 0.0
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3?
No target found
0.0 / 5.0 0.0 0.0 0.0
Criteria 7 : Science-Based Targets
What type of science-based target (as validated by SBTi) did the company commit to? NC 0.0 / 10.0 0.0 0.0 0.0
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Criteria 9 : Results based on scope 1 - 2 - 3
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Criteria 10 : Implied Temperature Rise (ITR)
Is the company aligned with global climate targets? ITR: 3.2°C 0.0 / 10.0 0.0 0.0 0.0
Total 17.8 / 100.0 17.8 0.0 11.0


Available Data Sources

Reporting Year 2021 2021 2021 2020 2020 2020 2019 2019 2019 2018
Source Public Yourstake Wikirate (NV) Public CDP Wikirate (NV) Public Wikirate (NV) CDP Wikirate (NV)
Publication Year 2022 2022 2022 2022 2021 2021 2022 2021 2020 2019
Scope 1 740,000 740,000 740,000 730,000 915,215 920,000 1,000,000 1,000,000 997,410 1,290,000
Scope 2 - location-based NA NA NA NA 1,179,287 NA NA NA 1,416,579 1,510,000
Scope 2 - market-based 1,070,000 1,070,000 NA 1,160,000 1,159,472 NA 1,390,000 NA 1,387,615 NA
Scope 1-2 - location-based 740,000 740,000 740,000 730,000 2,094,502 920,000 1,000,000 1,000,000 2,413,989 2,800,000
Scope 1-2 - market-based 1,810,000 1,810,000 NA 1,890,000 2,074,687 NA 2,390,000 NA 2,385,025 NA
Scope 3 505,000,000 505,000,000 0 0 225,835 0 0 0 865,714 2,340,000
Total - location-based 505,740,000 505,740,000 740,000 730,000 2,320,337 920,000 1,000,000 1,000,000 3,279,703 5,140,000
Total - market-based 506,810,000 506,810,000 NA 1,890,000 2,300,522 NA 2,390,000 NA 3,250,739 NA

Sources

Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email