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Sustainability Report Building a World That Works for Tomorrow Building a World That Works for Tomorrow U.S

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Sustainability Report Building a World That Works for Tomorrow Building a World That Works for Tomorrow U.S Sustainability Report Building a World That Works for Tomorrow Building a World that Works for Tomorrow U.S. U.K. Norway Turkey China Blade Recycling Offshore and Onshore Wind HaliadeTM-X Energy Transition Energy Transition Energy Transition OUR COMMITMENT GE has partnered with Veolia GE powered the first U.S. In 2020, GE’s HaliadeTM-X, the GE is helping Norway’s grid GE is powering Turkey’s first With more than 200 gas North America to recycle offshore farm at Block Island, most powerful offshore wind operator Statnett meet its goal nuclear power plant with steam turbines in service, GE is decommissioned wind turbine Rhode Island, and will power turbine built, was selected of reducing GHG emissions turbines, along with installing powering China’s coal-to-gas We build the technology blades. This agreement—the Vineyard Wind, the largest to power Dogger Bank off by 25 percent in 2025. and commissioning over 150 transition. A new power plant that enables a sustainable first of its kind in the US wind offshore and first utility-scale the coast of England in the Statnett is installing GE g³ gas MW of wind energy, supporting in Tianjin City marks the first industry—helps to contribute U.S. offshore wind project. North Sea. Dogger Bank is insulated equipment at its Turkey’s energy strategy of commercial operations of tomorrow. to the circular economy for expected to be the world’s new Oslo substation. g3 gas is “More Local, More Renewable.” GE’s 9HA.01 technology in composite materials. Learn more on p. 23 largest offshore wind farm. a game-changing alternative mainland China. It will deliver When complete, it will be to sulphur hexafluoride (SF6), 661 MW to the national grid Learn more on p. 71 capable of producing 3.6GW of one of the world’s most potent and steam for district heating Energy Transition electricity—enough to power greenhouse gases. for over 100,000 citizens living We have equipped 6 million homes, ~5 percent of in an area of approximately total U.K. demand. Learn more on p. 20 7 million square meters. We are supplying three 9HA.02 gas Learn more on p. 23 90% Global turbines for a power plant in of the world’s power transmission Guangdong province. The plant utilities with our technology Making airplanes more efficient will add 2.4 GW, powering GE Additive—in combination with GE Aviation’s more than 4 million homes in advanced materials such as Ceramic Matrix the Greater Bay Area. Composites and aerodynamic technologies—is Next Engineers revolutionizing the design and manufacturing of GE Foundation recently announced Next Engineers, committing Precision Health GE engines. The GE9X engine includes more than up to $100 million over the next 10 years to increase the diversity 300 metal 3D printed parts, helping increase fuel of young people in engineering. efficiency by up to 10 percent compared to 4M+ the GE90 engine. Learn more on p. 81 healthcare installations Learn more on p. 33 Future of Flight Target of more than 20% lower fuel consumption and CO2 emissions compared to today’s engines through the CFM RISE Program Haiti Brazil Middle East Zambia India Disaster and Humanitarian CT-in-a-Box GE’s 360 Foam Wash Rural Healthcare Energy Transition Relief/Healthcare As part of the fight against Airlines such as Emirates and GE is partnering with the India has the most residents in the We invest in R&D to build a world The GE Foundation has COVID-19, GE Healthcare Etihad Airways (UAE), Qatar government of Zambia to help world without reliable access to that works for tomorrow: supported HEI, a small rural developed “CT-in-a-Box,” a Airways (Qatar), and Royal open 108 new health centers electricity—some 240 million people, hospital in Haiti that stepped high-precision tool to quickly, Jordanian Airlines (Jordan) and five large hospitals to according to the World Bank. An Global R&D up when a 2010 earthquake safely, and effectively diagnose are using GE’s 360 Foam increase care for pregnant international GE team designed destroyed the capital. HEI is patients with coronavirus. This Wash, a groundbreaking women. In rural areas, some software to analyze India’s extensive now a technology-enabled, mobile unit was rolled out in jet engine cleaning system. women must walk over electricity demands, resulting in $3.8B full-service hospital, and its the Hospital de Campanha This alternative to the water 30 miles for their postnatal an AI-powered system installed by in 2020 staff hopes it becomes a model Lagoa Barra, in Rio de Janeiro wash method restores visits. GE equipment like Power Grid Corporation of India to for bringing modern healthcare in May 2020, and is now used engine performance ultrasounds also help reduce create the world’s largest wide-area Companywide, GE, customer and partner funded to impoverished areas around throughout the world. leading to reductions in infant mortality rates. monitoring system. the world. fuel consumption. Learn more on p. 14 Learn more on p. 24 Learn more on p. 85 Learn more on p. 35 i GE SUSTAINABILITY REPORT BUILDING A WORLD THAT WORKS FOR TOMORROW ii Dear fellow stakeholders, GE has always held a larger purpose. With 174,000 employees serving customers and communities in more than 170 countries, our cutting-edge technology, global network, and exceptional team are anchored in the service of others. Every hour of every day, our team has an opportunity to broaden access to electricity, healthcare, and transport around the world. As a high-tech industrial company, GE feels a heightened sense of responsibility when it comes to sustainability. Over our 129-year history, our innovation has improved quality of life around the world—a core driver of sustainability. We are advancing our sustainability priorities both through our own commitments to our people, communities, and planet, as well as by innovating groundbreaking technologies that will help build a more sustainable world at GE and beyond. FORWARD-LOOKING STATEMENTS This document contains “forward-looking statements”—that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see https://www.ge.com/investor-relations/important­ forward-looking-statement-information as well This commitment came to life in a unique that works,” has never been more true Take the energy transition. Roughly one as our annual reports on Form 10-K and quarterly way in 2020 in one of the most difficult than it is now. GE is committed to tackling billion people around the world lack access reports on Form 10-Q. We do not undertake to environments. Since the start of the the world’s biggest challenges with a clear to reliable electricity, and overall demand update our forward-looking statements. pandemic, GE’s people have served on alignment to sustainability—leading the continues to grow. As a company that the front lines—from delivering hospital energy transition to drive decarbonization, helps to generate one-third of the world’s equipment in the first days in Wuhan, developing precision healthcare that electricity, we are committed to supporting NON-GAAP FINANCIAL METRICS China, to quadrupling the production personalizes diagnoses and treatments, customers and governments in meeting of ventilators—and today, we continue and building a future of smarter and more this demand while reducing greenhouse In this document, we sometimes use information to help parts of the world like India and efficient flight. Sustainability priorities are gas emissions. Innovative technology derived from consolidated financial data but not Brazil fight against COVID-19. Together woven into all that we do, and this is right will be critical. In Renewable Energy, our presented in our financial statements prepared TM in accordance with U.S. generally accepted with our customers, the GE team keeps for both business and the planet. Haliade -X is the most powerful wind accounting principles (GAAP). Certain of these power flowing, hospitals operating, turbine built today; in Gas Power, our data are considered “non-GAAP financial and planes flying. I’m proud of the way 7HA.03 is the most efficient gas turbine measures” under the U.S. Securities and Exchange we are persevering in the face of great We will innovate our on the market. And we are partnering with Commission rules. These non-GAAP financial uncertainty. our customers to modernize the physical measures supplement our GAAP disclosures technology and our and digital grid, increase resiliency, and and should not be considered an alternative The impacts of COVID-19 on the world Company to ensure we rise enable more renewable energy. to the GAAP measure. The reasons we use reinforced how the planet shares its these non-GAAP financial measures and the challenges and of the need for innovative to the challenge of building reconciliations to their most directly comparable GAAP financial measures are included in our solutions. Our purpose statement, “We a world that works. annual report on Form 10-K, as applicable. rise to the challenge of building a world COVER Logan Toynbee, GE Renewable Energy Ashley Meaux, GE Digital iii GE SUSTAINABILITY REPORT BUILDING A WORLD THAT WORKS FOR TOMORROW 1 continue developing and to communicate our businesses. We appointed Roger details about more specific, nearer term Martella as our first Chief Sustainability GE greenhouse gas reduction metrics and Officer. Knowing that sustainability at GE targets that include Scope 3 emissions. requires cross-functional collaboration, As a company that has led innovation for Roger will help facilitate the success of more than a century, we will continue to our businesses and employees in our pioneer the technologies the world needs important sustainability missions, both in to move toward a net zero future.
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