GE Energy Financial Services, a unit of General Electric, has announced plans to double its renewable energy investments by 2010 and become one of the first financial institutions to disclose the greenhouse gas emissions from its power plant equity investments.
The expanded investment target would increase the share of renewable energy assets in GE Energy Financial Services' overall portfolio to nearly 20% by 2010, the company says. To help reach that target, the GE business unit has agreed to invest in wind energy in Texas and in hydroelectric power in British Columbia.
In addition, GE's annual ecomagination report (ecomagination.com/report) reveals that greenhouse gas emissions from GE Energy Financial Services' equity investments in power plants total about 10.94 million metric tons. The report also states that GE Energy Financial Services is working with the World Resources Institute and other organizations to develop a greenhouse gas accounting protocol to cover a wider range of financial instruments.