General Electric

OVERALL
Owned	USA
Rating

Conglomerate

Founded by Thomas Edison in 1892. Today it is one of world's largest companies with operations in the areas of energy, technology infrastructure, capital finance, and consumer and industrial (including appliances, lighting, aviation and healthcare). In 2013 GE sold its media interests to USA's largest cable and internet access provider, Comcast.


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General Electric Company

68.1% in conflict minerals rankings

As You Sow's 2019 report, Mining the Disclosures, is a deep analysis of 215 companies' human rights performance in relation to sourcing conflict minerals from the Democratic Republic of the Congo (DRC). This company's score was 68.1% (Good).
Source: As You Sow (2019)

59.2% at JUST Capital

JUST Capital polls Americans every year to identify the issues that matter most in defining just business behaviour. For their 2022 rankings the public identified 19 issues, which are organised under the headings Workers, Communities, Customers, Shareholders and Environment. JUST Capital then define metrics that map to those issues and track and analyse the largest, publicly traded U.S. companies. This analysis powers their rankings, in which this company ranked 200th of 954 companies, and 6th of 48 Industrial Goods companies.
Source: JUST Capital (2022)

Top 10 Corporate Criminal of 2017

This company appeared on Global Exchange's list of "10 Top Corporate Criminals of 2017" for being the top corporate US tax evader; its tax rate was -9% from 2008-2013.
Source: Global Exchange (2017)

Top spender on lobbying in USA

This company is on OpenSecrets.org's list of "Top Spenders on Lobbying", a list of the 20 organizations that have spent the most trying to influence US government policy. This company comes in at number 15 on the list, having spent $267,855,359 on lobbying between 1998 and 2021.
Source: Open Secrets (2021)

Supply chain practices in China

This company received a score of 12.5/100 (retrieved 10-Oct-2020) in the Corporate Information Transparency Index (CITI), a system for evaluating supply chain practices in China, particularly in regards to environmental management and water pollution. Scores are calculated using government compliance data, online monitoring data, and third-party environmental audits, as well as trends in the environmental performance of factories in the company's supply chains.
Source: IPE (2020)

Arms sales

This company is 24th on SIPRI's list of the Top 100 arms-producing and military services companies in the world (excluding Chinese companies), ranked by their arms sales in 2020. Arms sales accounted for 6% of this company's total sales in 2020.
Source: SIPRI (2020)

US defense contracts

This company was among the US Top 20 Defense Contractors derived from the 2019 Washington Technology Top 100 list, based on their 2018 defense contract revenue. Microsoft was number 78 with a defense revenue of US$269 million.
Source: Washington Technology (2019)

CEO Pay Ratio of 486:1

In 2019 the median pay for a worker at this company was US$50,471. The CEO was paid 486 times this amount. Exorbitant CEO pay is a major contributor to rising inequality. CEOs are getting more because of their power to set pay, not because they are increasing productivity or possess specific, high-demand skills. The economy would suffer no harm if CEOs were paid less (or taxed more). In contrast, the CEO-to-typical-worker compensation ratio was 20-to-1 in 1965 and 58-to-1 in 1989.
Source: AFL-CIO (2020)

Excessive CEO pay

As You Sow's 2022 report, 'The 100 Most Overpaid CEOs', reveals the 100 most overpaid CEOs from USA's 500 largest public companies (as determined by the S&P 500 list). This company's CEO, H. Lawrence Culp Jr. came in at number 3 on the list, having been paid US$73,192,032 in 2021. According to the report, "Most CEOs have come to be grossly overpaid, and that overpayment is harmful to the companies, the shareholders, the customers, the other employees, the economy, and society as a whole."
Source: As You Sow (2022)

Political donations

This company is on OpenSecrets.org's list of "Top Donors", a list of the 100 biggest givers in US federal-level politics since 1990. Companies on this list lobby and spend big, with large sums sent to candidates, parties and leadership PACs. This company comes in at number 67 on the list, with contributions totalling $42,455,345 between 1990 and 2020.
Source: Open Secrets (2020)

25/100 S&P Global ESG Score

This company received an S&P Global ESG Score of 25/100 in the Industrial Conglomerates category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 7 Feb 2021). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2021)

Action on Darfur

Identified in 'The Big Chill: Too Scared to Speak' report which identified Chinese Olympic Sponsors response to Darfur crisis in Sudan. Received a D. Neither took action in regard to bringing security to Darfur, their grades reflect what appeared to be significant concern with the issue and an effort (unsuccessful) to take an action.
Source: Dream for Dafur (2008)

Omniscan lawsuit

On 23 March 2013 GE Healthcare, a division of this company, was found by a jury in a federal court in Cleveland to have failed to adequately warn patients and doctors about the dangers of its medical imaging dye, Omniscan. The jury awarded US$5m to the plaintiff and his wife. This was the first time a jury had examined whether the dye, injected to sharpen MRI scans, can cause the debilitating disease of Nephrogenic Systemic Fibrosis. It was revealed that GE Healthcare ignored the advice of its own experts in 2009 and 2010 to proactively restrict its use. The company had also settled a few hundred cases involving the dye out of court which were all confidential.
Source: Drug Dangers (2013)

Chemical poisoning of workers

The Poisonous Pearl is a 2016 report by Good Electronics which focuses on the experiences of (former) workers in the electronics industry in China who are victims of chemical poisoning. The health of all the workers in the report was damaged by exposure to hazardous chemicals such as benzene and n-hexane. All were working in large or small factories in the Pearl River Delta-region of China, an area well known as being a global hub for the production of consumer electronics (ICT). This company is supplied by factories in the region.
Source: SOMO (2016)

Nuclear - direct involvement

Hitachi and General Electric operate a joint venture which builds nuclear power plants.
Source: company website (2022)

Multinational Monitor's '10 Worst Corporations of 2008'

Named one of Multinational Monitor's '10 Worst Corporations of 2008'. (Listed under information due to age of report)
Source: Multinational Monitor (2008)

History of misdeeds

GE has a lengthy record of criminal, civil, political and ethical transgressions. Listed under information due to age of report.
Source: Clean Up GE (2001)

Responsible Minerals Initiative member

This company is a member of the Responsible Minerals Initiative (formerly the Conflict-Free Sourcing Initiative), which helps companies address conflict minerals issues in their supply chains. The RMI provides information on conflict-free smelters and refiners, common tools to gather sourcing information, and forums for exchanging best practices on addressing conflict minerals. Membership is open to companies that use or transact in tantalum, tin, tungsten or gold (3TG). Founded in 2008 by members of the Electronic Industry Citizenship Coalition and the Global e-Sustainability Initiative.
Source: RMI (2019)

CDP Climate Change Score of C

In 2021, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change Score of C.
Source: CDP (2021)

Modern Slavery statement

California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.
Source: company website (2016)

Involvement with Israel

This company is recommended for divestment by the Project of the American Friends Service Committee for its involvement in the Israeli occupation of parts of Palestine. General Electric's aviation division manufactures engines for military aircraft Israel uses against civilians.
Source: AFSC (2021)

OpenSecrets.org profile

OpenSecrets.org tracks the influence of money on U.S. politics, and how that money affects policy and citizens' lives. Follow link to see this company's record of political donations, lobbying, outside spending and more.
Source: Open Secrets (2020)

57.6% in Newsweek Green Ranking 2017

This company received a score of 57.6/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
Source: Newsweek (2017)

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Company Details

Type	Public company
Founded	1892
Revenue	79.6 billion USD (2020)
Employees	174,000 (2020)
Subsidiaries	GE Australia Pty Ltd Technology In Australia and New Zealand GE operates eight businesses: GE Capital, GE Lighting, GE Aviation, GE Healthcare, GE Transportation (& Mining), GE Energy Connections, GE Power and GE Oil & Gas. GE Healthcare Healthcare

Contact Details

Address	Boston, Massachusetts, USA
Website	www.ge.com

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