Political Battle Between Economy And Environment “Nonsense”
Mark Vachon, vice president of GE’s successful Ecomagination program is calling the political battle between economy and environment “nonsense.” “There’s this theory that you have to pick one: economics or environmental performance. That’s nonsense. Innovation is the way you can have both,” said Vachon. GE started the Ecomagination program in 2005 and has since invested more than $5 billion renewable energy, efficiency and smart grid technologies. The company saw such a powerful business case for clean technologies, it plans to double investments in the sector to $10 billion by 2015. According to Vachon, the $85 billion in revenue from cleantech has doubled the performance of the rest of the company’s portfolio.