At GE, sustainability means aligning our business strategy to meet societal needs, while minimizing environmental impact and advancing social development. This commitment is embedded at every level of our company—from high-visibility initiatives such as Ecomagination and healthymagination to day-to-day safety and compliance management around the world.
GE’s approach to sustainability is coordinated by a Sustainability Steering Committee, chaired by the vice president of Environment, Health and Safety (EHS), and composed of leaders from across the company with deep subject matter expertise. The Committee meets to review stakeholder feedback and emerging trends and to assess our sustainability performance and reporting. Their findings inform our ongoing work programs and are discussed with GE’s executive management as needed.
Our sustainability efforts are one element of our industry-leading strategies for assessing and mitigating risks and evolving our environmental, social and governance practices. Risk oversight is carried out by senior management within GE as well as by key committees within the GE Board. The Policy Compliance Review Board within GE management, which is chaired by the Company’s general counsel and includes the chief financial officer and other senior-level functional leaders, has principal responsibility for monitoring compliance matters across GE. For more information on GE’s approach to risk management, please visit our Governance section.
Members of the Sustainability Steering Committee and other executives brief four Board committees on sustainability-related issues as part of GE’s overall risk management processes:
- The Risk Committee oversees GE’s four to five most critical enterprise risks and how management is mitigating these risks.
- The Audit Committee, in coordination with the Risk Committee, discusses with management the Company’s risk assessment and risk management practices. The Audit Committee also reviews and approves the annual internal audit plan, prioritizes audit focus areas based on potential risk to the Company, monitors ongoing compliance issues and conducts a semi-annual assessment of compliance issues and programs.
- The Management Development and Compensation Committee oversees risk management associated with management resources, structure, succession planning, development and selection, and reviews incentive compensation arrangements.
- The Governance and Public Affairs Committee oversees risk related to the Company’s governance structure and processes and arising from related-person transactions, reviews and discusses with management risks related to GE’s public policy initiatives and activities, and monitors the Company’s environmental, health and safety compliance and sustainability strategies.
For more information on GE’s management practices, please see our Annual Report.