Beirut, Lebanon; November 20, 2009: General Electric Company (GE) is showcasing its global best practices in sustainable development with a focus on the company's own ecomagination initiative at the Arab Forum for Environment and Development (AFED) being held from November 19 to 20 in Beirut.
GE is the Silver Sponsor of the crucial event aimed at strengthening environmental education and information, bringing together all stakeholders to address issues pertaining to environment and development in the Arab world, and encouraging Arab societies to work towards rational utilization of natural resources.
Nabil Habayeb, President & CEO, GE Middle East and Africa, said that AFED comes at a critical juncture when the world is actively addressing the implications of climate change and the importance of sustainable development.
He explained: "ecomagination is designed to imagine and build innovative technologies that help customers address their environmental and financial needs. GE has already reported US$17 billion in revenues from ecomagination products and services in 2008. Our annual investment in cleaner research and development is over US$1.4 billion, which is nearly one-third of the total spend in R&D at US$5 billion. The company has also considerably reduced greenhouse gas emissions from its operations and has announced its commitment to reduce freshwater consumption by 20 per cent by 2012."
GE has extended its ecomagination commitment across all business sectors of the company including aviation, energy, water, transport and healthcare, among others. Driving this forward, the company has also entered into strategic partnerships and investments with key players globally, including the Middle East.
GE will have a dedicated pavilion at AFED, which will showcase solutions that not only address environmental challenges but also assist the region in enhancing energy efficiency. "These energy efficiency solutions can boost output and reduce fuel consumption, which in turn helps to reduce gas emissions and support the region's environmental goals," said Habayeb.
With over 80 years of presence in the Middle East region, GE is developing cleaner ways to generate power and increase supplies of clean water supplies. The company is
significant partner in the growth and development of Lebanon, addressing the twin challenges of a rising population and growing needs for power.
Examples of GE's leading position in sustainable development through ecomagination are the power generation gas turbines and Jenbacher engines installed in Lebanon, with the most recent of them in Bekaa Valley area (Baalbek) and the South (Saida and Tyre) region, as part of GE's support of Lebanon's electricity infrastructure needs.
Habayeb said the successful experience and expertise of GE in addressing long-term growth challenges serves as a valuable learning experience for businesses in the Arab world. "Through our participation in AFED, we are highlighting our commitment in sharing best practices and expressing our solidarity to all stakeholders involved in the challenge of addressing the world's most pressing needs today."
The Arab Forum for Environment and Development (AFED) is a not-for-profit regional non-governmental organization that brings together experts the civil society, business community and media, to promote prudent environmental policies and programmes across the Arab region.
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Note to Editors
About GE:
GE (NYSE:GE) is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. GE is Imagination at Work. For more information, visit the company's Web site at http://www.ge.com.
Rania Rostom
Nivine William
ASDA’A Burson-Marsteller
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+971 4 4507 600