"Europe has a Choice - Innovate or Stagnate" -- says GE International's CEO
BRUSSELS, BELGIUM, March 24, 2010 -- GE (NYSE: GE) announced today that it has won the Sustainable Energy Europe Award for its Hungarian Schools Illumination Programme.
Under the Hungarian Schools Illumination Programme, GE -as a member of a consortium- provided energy-efficient lamps to upgrade the lighting systems in schools throughout the country. The upgrades were primarily financed by the energy savings of the schools, which were as high as 40%, which allowed the schools to participate in the programme without accessing additional state funds for their investment.
Accepting the award, Nani Beccalli-Falco, President & CEO of GE International, said; "GE is pleased to have won this award from the European Commission. We are very supportive of their objective of helping achieve the EU's energy policy goals including stimulating an increase in private investment in sustainable energy technologies. We believe that the private and public sector need to work together to focus investment beyond a short-term vision to the long-term objectives and benefits of using innovation and best available technologies.
"Economic globalisation has led to a shift in the economic order and that poses both an opportunity and challenge for the EU. If Europe is to compete and maintain its position as a major economic force, it needs to become more innovative and respond to the changing market conditions, making the best possible use of existing tools such as the structural funds. We have a choice to innovate or stagnate. Innovation can be the catalyst for Europe's economic renewal but that will not happen in a vacuum," Beccalli-Falco concluded."
Buildings currently account for some 40% of total CO2 emissions, as well as a large part of our energy consumption. Therefore they are key to tackling the challenges of climate change and reaching the EU's 2020 targets. Initiatives such as those undertaken in Hungarian schools demonstrate the benefits that could be derived from a public buildings programme both in terms of reduced costs and energy savings, a significant improvement in the quality of lighting as well as a reduction in overall greenhouse gas emissions.
The programme, along with four other European projects, was a finalist in the Sustainable Energy Europe Awards 2010, in the „Demonstration and Dissemination Projects" category. GE's selection for this award is further endorsement by the European Commission of this innovative project, which was also recognised as a Benchmark of Excellence under the Covenant of Mayors in December 2009. A Benchmark of Excellence is an example of world-class sustainable energy technologies in an urban setting.
The prestigious honour was awarded at a gala ceremony held last night in Brussels as part of the EU Sustainable Energy Week (EUSEW), the key annual event of the Sustainable Energy Europe Campaign, an initiative the European Commission launched in 2005 with the aim of contributing to achieving the EU's energy policy goals in areas such as renewable energy and energy efficiency, seeks to raise awareness of decision-makers at all levels, spread best practices and stimulate an increase in private investment in sustainable energy technologies.
For more information on the Awards and the campaign, please visit http://www.sustenergy.org/
About GE
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For more information, visit the company's Web site at www.ge.com. GE is imagination at work.
Elma Peters
GE Energy
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