Governance
Strong governance is essential to running our global business.
Sustainability efforts are overseen by the GE Vernova Board of
Directors and informed by Enterprise Risk Management (ERM) and
sustainability assessments. Strong policies and processes ensure we
deliver for our stakeholders while keeping information about our
employees, customers, and suppliers safe.
Board Oversight
The GE Vernova Board of Directors began serving following our spin-off from GE on April 2, 2024, after which it became responsible for overseeing our company. The Board provides independent risk oversight with a focus on those most significant to the company, including risks related to finance, operations, legal and compliance, as well as sustainability, climate change, and reputational matters. The GE Vernova Board has delegated specific risk responsibility to its four committees, the members of which are all independent directors:
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Audit Committee
Has a role in sustainability matters to the extent these topics relate to financial reporting and compliance with legal and regulatory requirements.
Compensation and Human Capital Committee
Defines the company’s overall executive compensation philosophy and oversees executive compensation programs, which may include sustainability metrics. The committee also periodically reviews the company’s strategies and policies related to human capital management.
Nominating and Governance Committee
Devoted primarily to reviewing, defining, and articulating the company’s governance structure and practices. This committee also oversees GE Vernova’s political spending and lobbying activities, and contributions to trade associations and other tax-exempt and similar organizations that may engage in political activity.
Safety and Sustainability Committee
Responsible for overseeing the company’s environmental, health, and safety programs and initiatives, as well as for sustainability matters, including those related to environmental issues and climate change.
Governance Priorities
Our sustainability priorities and initiatives are an integrated part of the company’s overall strategy and risk management.
Empowering Communities
We are committed to considering environmental justice across the four pillars of our Sustainability Framework, using our unparalleled capabilities to electrify and decarbonize the world, while improving and building meaningful partnerships with our communities, particularly those that have faced historical disadvantages and underinvestment. We approach this commitment in a variety of ways, from incorporating globally recognized environmental and social performance management standards for our clean energy projects to building robust educational pipelines for future energy leaders in the communities surrounding our operations. Overall, we aim to marry our leadership role in the Energy Transition with our efforts to support our communities in ways that have the greatest and most lasting impact.
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Our environmental commitments improve conditions and quality of life for people in the communities we serve
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POLICY, ADVOCACY, AND ENGAGEMENT
With a legacy of bringing technology innovation to the global energy sector for more than 130 years, GE Vernova is uniquely positioned to help lead the Energy Transition. Our advocacy efforts on climate change and the Energy Transition start with our strong support for advancing energy security, enabling electrification globally, and for the Paris Agreement commitments and other ambitious targets to reduce greenhouse gas emissions, including GE Vernova’s own decarbonization and climate goals. Our 2023 Sustainability Report describes our approach to advocacy, our methodology for determining policy feedback and support, and our direct and indirect policy engagement, including our lobbying efforts on the Energy Transition. As 2024 unfolds, we are continuing our strong engagements and partnerships with governments and other stakeholders around the world. We believe these efforts are helping to advance progress toward the achievement of the Paris Agreement goals.
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Reports and Data
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GE Vernova published its first sustainability report on September 18, 2024. The report sets out our full sustainability strategy, approach and performance.