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| Overall Assessment |
Comment |
Score |
| Comprehensive |
GE Vernova Inc has demonstrated a comprehensive level of transparency in disclosing its climate lobbying activities. The company explicitly names specific climate policies it has engaged with, such as the United States' Inflation Reduction Act (IRA), the UK Department for Energy Security and Net Zero (DESNZ) £20 billion investment in CCUS deployments, and its collaboration with the International Civil Aviation Organization (ICAO) to establish CO2 emissions standards for aircraft. Additionally, GE Vernova provides clear details on its lobbying mechanisms, including direct advocacy campaigns urging the U.S. Congress and Biden administration to pass clean energy tax credits, participation in public forums like COP27, and collaborations with trade associations such as the American Clean Power Association and the Carbon Capture Coalition. The company also identifies specific lobbying targets, such as the U.S. Treasury Department, Department of Energy, and the White House, as well as international stakeholders like Ministers of Energy and Climate. Furthermore, GE Vernova has been explicit about the policy outcomes it seeks, including achieving a 40% carbon emissions reduction by 2030 under the IRA, capturing 95% of CO2 emissions in the UK Teesside Power Project, and advancing policies that support electrification, decarbonization, and clean energy technologies. These disclosures reflect a high level of transparency and alignment with the company's climate strategy and the goals of the Paris Agreement.
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4
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| Overall Assessment |
Comment |
Score |
| Comprehensive |
GE demonstrates comprehensive governance in its climate lobbying processes, with robust oversight structures, detailed alignment mechanisms, and proactive measures to ensure consistency with climate goals. The company explicitly states that its Governance & Public Affairs Committee, composed solely of independent directors, oversees political spending and lobbying activities, including external reporting on such activities. This committee conducts a yearly review of GE's political spending policies and lobbying practices, approves the annual budget for political activities, and reviews semi-annual updates on political spending. GE has conducted a global inventory of trade associations and other relevant organizations engaged in climate-related policy advocacy, analyzing their positions and alignment with GE's own climate goals and the Paris Climate Agreement. For example, GE states, "We conducted analysis of each trade association's specific positions on climate change, and how well those positions aligned with GE's own policy positions and with the goals of the Paris Climate Agreement." Furthermore, GE actively engages with trade associations to influence alignment with climate goals, noting, "Where we see trade associations potentially advocate for a position different than ours with regard to climate policy...we begin by reaching out to the trade association to assert influence toward alignment." GE also emphasizes its commitment to transparency and alignment by stating, "GE does not and will not use trade associations as a cloak for climate change policies inconsistent with our own positions." Additionally, GE Vernova has published a "2023 Paris Agreement Aligned Lobbying Report," which describes its approach to advocacy, methodology for determining policy feedback and support, and direct and indirect policy engagement, including lobbying efforts on the energy transition. These measures reflect a comprehensive governance structure for monitoring and managing climate lobbying alignment, encompassing both direct and indirect lobbying activities, with clear accountability mechanisms and responsible parties identified.
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4
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