DeSmog

GE's Green Initiative Thwarted by "Hidden Hand"

authordefault
on

Following a widely heralded move by General Electric to substantially cut its carbon output, a tiny, dissident shareholder group has filed a resultion asking the company to stop its plan to fight global warming. In January, Jeffrey Immelt, CEO of the global giant, announced the firm was launching an ‘ecomagination’ program to sell $20 billion worth of green technologies over the next four years.

GE‘s action followed, by several months, a striking call by the investment house of Goldman Sachs for the federal government to begin to regulate CO2 emissions.

Almost immediately, however, the initiatives of GE and Goldman Sachs ran into vocal opposition by a dissdent shareholder group, the Free Enterprise Action Fund.

The fund is spearheaded by non-other than the famed “junk science” skeptic Steve Milloy. It’s mission: “[S]eeking to provide investors with financial returns while defending and advocating for the American system of free enterprise.”

If Milloy is correct, then one of the world’s largest corporations and one of its most prominent finance houses are leading a potentially fatal assault against American capitalism.

Thank goodness for Milloy’s vigilance. No telling what could happen when GE and Goldman Sachs allow themselves to be recruited by the growing menace of corporate eco-terrorists!

Related Posts

Les responsables de campagne critiquent des programmes volontaires « fortement défectueux », tandis que l’analyse de DeSmog révèle l'absence de représentation de la société civile ou des communautés locales affectées par les dommages causés par l’industrie des farines et huiles de poisson.

Les responsables de campagne critiquent des programmes volontaires « fortement défectueux », tandis que l’analyse de DeSmog révèle l'absence de représentation de la société civile ou des communautés locales affectées par les dommages causés par l’industrie des farines et huiles de poisson.
on

Brazilian meat giant JBS invested just 0.03 percent of annual revenues into climate measures, researchers found.

Brazilian meat giant JBS invested just 0.03 percent of annual revenues into climate measures, researchers found.
on

Fossil fuel interests are deploying unprecedented strategies to hide evidence of companies’ deception and block liability lawsuits before they reach trial.

Fossil fuel interests are deploying unprecedented strategies to hide evidence of companies’ deception and block liability lawsuits before they reach trial.
on

Federal lawsuit alleges EPA’s rules on ethylene oxide and chloroprene emissions rely on weak industry estimates rather than real-world data on risks to health.

Federal lawsuit alleges EPA’s rules on ethylene oxide and chloroprene emissions rely on weak industry estimates rather than real-world data on risks to health.