General Electric announces strategic plan to focus on renewable power
The US-based conglomerate, General Electric, has unveiled its new strategic plan to focus on aviation, power, and renewable energy as it streamlines its business.
The firm aims to make itself “simpler and strong” through its scheme – which has received unanimous approval from the board of directors.
“Today marks an important milestone in GE’s history,” said John Flannery, chairman and CEO of GE,” stated John Flannery, General Electric’s Chairman and CEO.
“We are aggressively driving forward as an aviation, power, and renewable energy company—three highly complementary businesses poised for future growth.”
“We will continue to improve our operations and balance sheet as we make GE simpler and stronger.”
As part of the strategy, the company aims to offer a full range of efficient and affordable energy for both businesses and consumers.
“GE’s mission and technology change the lives of billions of people around the world,” Flannery continued.
“We will now move forward with purpose to make our company simpler and stronger and accelerate growth across our businesses.”
“I’m confident that today’s actions, in conjunction with other changes we have already made, will produce improved operating results and increased shareholder value going forward.”
“We are focused on executing the strategy and implementing the structure we’ve laid out today to position our businesses for future growth.”
All but two UK regions failing on school energy efficiency
Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.
Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.
According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.
Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.
“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."
He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."
North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).
The Department for Education has issued 13 tips for reducing energy and water use in schools.