exo-is/governance-reporting-on-listed-companies huggingface dataset:
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In Saudi Arabia, our Grid Solutions business 
has won a contract with multinational 
manufacturer Larsen & Toubro to supply 
380-kilovolt T155 gas-insulated substations 
for the world’s largest utility-scale hydrogen 
plant to be powered entirely by renewable 
energy. The plant aims to produce up to 600 
tons of green hydrogen a day by the end 
of 2026, using only wind and solar power.
Find out more
Our Power Conversion business has developed 
Direct Feed, an advanced solution directly 
connected to the grid to help steel producers 
optimize their operating expenses, while 
providing the best-quality grid power, and help 
the steel industry reduce its carbon emissions.
An increasin
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CCS is the process of capturing 
carbon dioxide (CO2) produced 
during power generation and 
industrial processing and storing 
it underground so that it does not 
enter the atmosphere. Advanced 
Research is pursuing development 
of solid sorbent-based carbon 
capture technology, including 
characterizing, testing, and 
evaluating an extensive range of 
sorbent materials. Additionally, 
we’re exploring complementary 
technology improvements to 
increase the system effectiveness.
Carbon capture provides a pathway to lowering 
carbon emissions from power generation. In order 
to meet overall decarbonization goals, there 
is growing interest in CO2 utilization pathways 
that produce l
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Like point source carbon capture, 
Direct Air Capture (DAC) is achieved 
using sorbent- or solvent-based 
technology, but the materials differ due 
to differing environmental conditions. 
GE Vernova has developed a unique DAC system that 
couples its decades of experience designing thermal 
management solutions and heat exchangers for its 
power turbines and jet engine platforms with deep 
chemistry and material systems expertise to develop 
innovative sorbent materials for CO2 capture. With 
GE Vernova’s DAC system, the thermal management 
design provides an optimal environment for the 
sorbent materials to remove CO2 from the air. 
Our scientists and engineers have been working 
on various projects with multiple parties
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GE Vernova’s Nuclear Power 
business, through its joint ventures 
with Hitachi Ltd, is a world-leading 
provider of nuclear fuel, services, 
and advanced reactors. Our history 
of boiling water reactor (BWR) 
technology dates to the 1950s. 
More recently, we are developing 
an industry-leading small modular 
reactor, the BWRX-300, our 300 MW 
10th generation boiling water reactor 
based on proven technology and 
powered by today’s commercially 
available fuel design.
The BWRX-300 is designed to provide flexible 
and dispatchable electricity generation that 
is competitively priced compared to other 
generation sources. One BWRX-300 can produce 
the equivalent of the electricity needed to power 
up to 300,000 homes. In add
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FINANCIAL  
SERVICES
GE Vernova’s Financial Services business 
provides financing solutions to enable 
customer projects that aim to accelerate a 
new era of energy. It has deployed sizable 
capital into energy projects globally 
through project financing, direct equity 
investments, and capital raising from 
private and public financial institutions.
GE Vernova’s Financial Services business has 
worked with many sponsors across the globe to 
develop over 7 GW of renewable projects including 
wind, solar and storage, and hybrids. Our Financial 
Services business provides developers with access 
to capital as well as expertise based on its project 
finance, M&A, capital markets, and
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GE Vernova’s Consulting Services 
business provides customers with a suite 
of energy consulting expertise focused 
on solving the world’s toughest technical 
and economic power system problems, 
enabling technology integration, and 
shaping the Energy Transition to help 
accelerate a new era of energy. 
With its cross-business resources, GE Vernova’s 
Consulting Services can deliver power systems 
analysis, studies, and decarbonization pathways  
to serve a diverse global client base with a strong  
local presence.
GE Vernova’s Consulting Services 
partnered with the Natural Resources 
Defense Council to conduct a study 
focused on the Eastern United States 
regarding consumer ben
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CONSERVE
Our commitment to innovate more while 
using less, safeguarding natural resources.
LEADING GOALS
ADDITIONAL AREAS OF FOCUS
Biodiversity | page 67 
 
Water | page 68 
 
Waste and Pollution | page 69 
 
GOAL 2
90% of our top products 
covered by our 4R circularity 
framework by 2030
Page 63 
GOAL 1
Carbon neutrality for  
Scope 1 and 2 GHG  
emissions by 2030
Page 61 
 
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CONSERVE 
Our Conserve pillar highlights our commitment to improve the environmental impacts of our operations and our 
products as we
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Reducing our environmental impact 
through increased efficiency and 
lower emissions is central to our 
operations and product development, 
as well as to our Conserve pillar. 
At GE Vernova, working to decrease our Scope 
1 and 2 GHG emissions is part of our day-to-
day operations and product development, and 
reflected in our goal to achieve carbon neutrality 
within our own operations (Scope 1 and 2 GHG 
emissions) by 2030. To achieve this goal, our 
businesses are implementing energy efficiency 
efforts, using Lean practices to eliminate energy 
waste, and reducing emissions from the grid 
through smart power sourcing. While we are 
focused on driving absolute reductions to ach
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OUR PATH FORWARD
We are focused on accelerating the absolute 
reduction of our Scope 1 and 2 GHG emissions, while 
thinking strategically about the pathways available 
to reach our carbon neutral ambition by 2030. We 
are continuing to develop a Scope 1 and 2 enterprise 
standard and standard operating procedures for our 
smaller sites and fleet, to help ensure our operational 
sites have the resource toolkits to reach carbon 
neutrality. We will continue hosting a variety of Kaizen 
events (week-long data-driven workshops focused 
on a specific topic) across our manufacturing sites 
and reviewing energy management practices 
at the site, business unit, and segment level to 
determ
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As a leading supplier to the electricity industry with a 
large portfolio of products, we recognize our responsibility 
to address the impact of our products across their full 
life cycle. We embrace the challenge of innovating more 
while using less, conserving natural resources. This is why 
product stewardship and circularity are central elements 
of our sustainability strategy and culture, and embedded 
in our safety and quality management processes. 
Our circularity approach is centered around our 4R framework, which 
accounts for the four product life cycle phases of our products. Our 4R 
circularity framework focuses on circularity requirements for the product 
portfolio bas
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2023 PROGRESS 
GE Vernova developed a new company-wide 
Product Stewardship and Circularity program 
in 2023. This program aims to address scarcity 
of resources, as well as expectations for 
technology producers, like GE Vernova, to take 
more responsibility for the impact their products 
have during their full life cycle. In addition, the 
program enhances our ability to comply with 
regulatory disclosures, customer expectations for 
products with lower-carbon footprints, certified 
life cycle assessments (LCAs) and eco-design 
documentation. Eco-design is commonly known as 
a systemic approach that considers environmental 
aspects in design and development with the 
aim to reduc
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RETHINK explains how we engineer and develop 
our products with circularity and resource 
efficiency in mind. This is an essential phase as 
decisions made during product development affect 
all other life cycle phases. This is also an area with 
significant innovation opportunities for product 
circularity, and for mitigating environmental impact. 
Activities within RETHINK may include eco-design 
in our new product introduction (NPI) and new 
technology introduction (NTI) processes,  
LCAs, and sourcing new sustainable materials.
ENGINEERING FOR ENVIRONMENT 
AND CIRCULARITY
In 2023, our segments (particularly Wind) 
introduced new tools for the engineering teams 
to further advan
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REUSE occurs after we bring our products to the 
marketplace. We seek to assist our customers to 
extend the lifetime and efficiency of our products 
through our optimization and life-extension 
services. We aim to reuse and retain the value 
in the materials of our sold products use-phase 
for as long as possible, avoiding the extraction 
of new raw materials and negative impact, while 
producing the same output. 
Circular services are an important aspect of our 
business model, as 65% of our year-end 2023 
backlog, totaling $75 billion, was for services 
that help extend the life of our sold products. 
Additionally, we offer optimization services 
aiming to maximize the efficienc
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BIODIVERSITY 
As a leading supplier to the electricity 
industry with a global presence, 
we recognize our dependence on 
nature and biodiversity, as well as 
our impacts. As we further develop 
our sustainability program, we 
will aim to track and mitigate the 
risk of impacts to biodiversity in 
our operations and supply chain, 
particularly at our project and 
manufacturing sites.
We are developing a roadmap to identify and 
address our biodiversity risks and opportunities in 
our operations and across our value chain. We will 
continue to advance the governance, processes, 
and data collection tools necessary to support 
a biodiversity strategy. Our biodiversity strategy 
inten
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As a leading supplier to the 
electricity industry that engineers, 
manufactures, supplies, and 
services technologies to create 
a more reliable and sustainable 
electric power system, water 
is an essential input for our 
operations and products.
2023 PROGRESS
In 2023, we conducted a company-wide water 
risk assessment using the World Resources 
Institute (WRI) Aqueduct tool. As part of this 
assessment, we mapped all our light industrial 
and manufacturing sites, evaluated which are 
currently in water-stressed areas, and identified 
those in areas of high or extremely high water 
stress. Also, our Gas Power business installed 
real-time water meters at multiple sites in 2023.
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company to improve data governance, identify 
continuous improvements, and evaluate potential 
water risks. Our Sustainability Business Leaders 
and stakeholders within each business unit 
are responsible for monitoring and collecting 
water data and implementing initiatives to 
reduce water consumption in our facilities. For 
the water footprint of our products, our LCA 
Engineering Team and Product Sustainability 
Champions conduct product life cycle analyses, 
which include water footprint metrics and impact 
reports that inform key stakeholders internally 
on the water footprint of raw materials. 
OUR APPROACH
Within our Product Stewardship and Circularity 
approach, we have core requirements for 
water management across the life cycle of 
our products. For our manufact
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enhance our data governance efforts to prepare 
for future regulatory disclosure requirements.
WATER
WATER
2023
Total Water Consumption  
(billion U.S. gallons)
2.3
Once-Through Cooling 
Water Withdrawals  
(billion U.S. gallons)
1.5
Wastewater Exceedances 
(Count)
2
Additional area of focus
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Lean and efficient operations are 
central to our business strategy and 
we recognize the importance of 
responsible waste management and 
resource efficiency. Reducing solid 
waste and pollution in our operations 
helps us reduce our environmental 
footprint and pressures in our sites’ 
local ecosystems, w
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THRIVE
Our commitment to advance safe, responsible, 
and equitable working conditions in our 
operations and across our value chain.
LEADING GOALS
ADDITIONAL AREAS OF FOCUS
Product Safety and Quality | page 76 
 
Human Capital: Our People Inspire Change | page 77 
 
GE Vernova Foundation and Philanthropy | page 93 
 
GOAL 1
Fatality-free operations
Page 72 
GOAL 3
Embed and implement ethical 
decision-making principles 
into business decisions
Page 86 
GOAL 2
Demonstrate progress on global 
gender representation and locally 
underrepresented populations
Page 81 
GOAL 4
Partner with suppliers to 
promote and uphold human 
rights in our value chain
Page 89 
 
Introduction        Cont
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THRIVE
People are fundamental to our success. 
The ideas, energy, and commitment 
of approximately 75,000 people who 
work for GE Vernova are the driving 
forces behind the change we’re 
creating. It is essential that we create 
a thriving community for our people 
by working to ensure the safety of 
our teams throughout the world, 
embracing diversity, leading with 
integrity, and respecting human rights. 
Beyond our own employees, those 
working for our suppliers and living in 
the communities in which we operate 
are integral to our thriving community. 
Our strong supply chain governance 
programs help to advance positive 
change for people supporting our 
efforts, no matter the
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GE VERNOVA’S LIFE SAVING RULES
Assess risk, control
hazards, and obtain
confined space permit
Plan the lift, control the 
area, and stay clear of 
moving and lifted loads
Keep yourself and 
others out of the
line of fire
Isolate and verify
zero energy before
work begins
WE START WORK ONLY WHEN IT IS SAFE, AND STOP WHEN IT’S NOT
Apply controls 
and meet boundary 
access requirements
Control ignition sources 
and eliminate fire and 
explosion risk
Plan your journey, 
focus on driving,
and stay alert
Assess, prevent, and 
protect against falls 
from height
Assess risk, apply controls,
and obtain authorization
before starting work
FATALITY-FREE OPERATIONS
GOAL 1
Our ultimate goal is th
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PSEs are events such as a near miss, stop work, 
or a minor injury where defenses are ineffective, 
and under other circumstances, could have 
realistically resulted in a fatality. At GE Vernova, 
PSEs are openly reported, escalated to Senior 
Leadership, investigated with urgency, and Read 
Across shared to the entire organization to action 
the learnings. The focus and commitment to PSEs 
and operationalizing the Read Across actions 
promotes a “never happen again” expectation 
to operational safety excellence.
We are constantly improving our processes 
and practices to protect those who work for 
us or do work on our behalf. 
HOW WE OPERATE 
GE Vernova’s Safety and Sustainabilit
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EHS 
MANAGEMENT 
SYSTEM
EHS OPERATIONAL REVIEWS
Evaluate performance to targets and action 
plans. For example, monthly/weekly EHS 
operational reviews, Hoshin reviews.
MANAGEMENT OF CHANGE (MOC)
Evaluate the EHS impact of all changes. For 
example, Lean projects, equipment, product, and 
organization changes, planned or unplanned 
deviation from standard work or tasks.
AUDITS & INSPECTIONS
Audit to regulatory and internal EHS 
standards. For example, Governance Audits, 
Self-assessments, and Hazard Hunts.
TOOLS & DATA INSIGHTS
Tools and data insights for problem solving and daily 
management. For example, LSPs, Lean, Kaizens, LPRs, 
PSEs, Read Across, Systems of Record & Dashboard
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OUR 32 EHS CORE REQUIREMENTS
Our EHS Enterprise Standard, policy, and 
procedures are covered by 32 EHS Core 
Requirements, which outline requirements 
and expectations across a variety of EHS 
areas. Using these Core Requirements, each 
business unit develops detailed EHS procedures, 
aiming to address specific risks and meet 
our standards. Implementation of these Core 
Requirements ensures that all of GE Vernova’s 
operations apply the same EHS standards in 
all countries where we work. In certain topic 
areas, additional detailed technical standards 
have been developed for higher-risk activities, 
such as lockout tagout, electrical safety, 
lifting, and working at height. 
INC
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PRODUCT SAFETY AND QUALITY
It is our responsibility to provide safe, 
compliant, and more sustainable 
products and services that meet the 
needs of our employees, customers, 
and stakeholders.
HOW WE OPERATE 
GE Vernova complies with all laws and regulations 
pertaining to the safety, quality, and performance 
of our products in all countries where GE Vernova’s 
products and services are offered. Guided 
by The Spirit & The Letter, our corporate EHS 
and Quality Policies, and our business Quality 
Management Systems (QMS), our business units 
have established processes and standard work 
procedures, applied throughout the product 
life cycle, to proactively mitigate safety and 
qu
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HUMAN CAPITAL: OUR PEOPLE INSPIRE CHANGE
GE Vernova has a global workforce of approximately 75,000 employees working towards a common 
purpose, the Energy to Change the World. As a unified company, we strive to operate according 
to a set of shared principles that define how we create value for our people, customers, shareholders, 
and planet. We call this the GE Vernova Way – five core principles that guide how we aspire to speak, 
behave, interact, and make decisions. 
ATTRACTING TALENT
GE Vernova is an Equal Opportunity Employer. 
Employment decisions are made without regard 
to race, color, religion, national or ethnic origin, 
ancestry, sex, gender, sexual orientation, marital
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LEARNING FOR ALL EMPLOYEES 
	
բ Our culture: Tailored learning emphasizes 
each of the GE Vernova Way principles: driving 
innovation, serving customers, continuously 
improving through Lean, working as one 
team, and remaining accountable individually 
and collectively.
	
բ Lean: Challenging ourselves to be better every 
day, Lean is at the core of how we work. Lean 
learning opportunities include videos, lessons, 
templates, articles, and books. Learning paths 
are tailored for different roles and teams, from 
frontline employees to leaders.
	
բ Disrupting Bias & Respectful Workplace:  
A respectful, inclusive culture where everyone 
can contribute to meaningful work is key to 
e
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GLOBAL WELL-BEING 
Supporting the welfare of our global workforce 
is paramount in achieving our company’s mission. 
We aim for our employees and their families 
to achieve peak health and wellness, offering 
comprehensive support and resources focused 
on leading a harmonious life. 
HealthAhead has been GE’s global well-being 
program since 2009 and was adopted by 
GE Vernova businesses in 2023. We support a 
culture that inspires and encourages employees 
and their families to care for their health and 
well-being and live a well-balanced life. As part 
of HealthAhead, our employees have access to 
well-being benefits such as Employee Assistance 
Programs (EAP), digital tools and
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EMPLOYEE ENGAGEMENT
At GE Vernova, periodic employee surveys are 
one of the many ways we listen to our employees. 
Our survey data surfaces what is most critical 
to our success, identifies ways to improve our 
employee experience, and measures progress 
on building a workplace where everyone belongs 
and contributes. Survey questions are designed 
to capture feedback about progress on essential 
topics like safety, culture, inclusion, engagement, 
and more. 
65% of all employees (including hourly 
employees) participated in our September 2023 
employee survey. Our employee engagement 
score was 73 out of 100, a two-point increase 
over the previous 18-month period. Additionally,
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Asian
Black/ 
African 
American
Hispanic/ 
Latinx
Native 
American/
Alaskan 
Native
Native 
Hawaiian/ 
Pacific 
Islander
Multi- 
Racial
White
Total 
Under-
represented 
Minority
Leadership
11.7%
3.5%
5.5% 
0.2% 
0.0%
1.0%
78.1%
21.9%
Professional
12.2%
5.9%
7.3%
0.3%
0.2%
2.2%
72.0%
28.0%
All Employees
8.9%
8.6%
9.7%
0.5%
0.2%
2.2%
70.0%
30.0%
1 The data shared is representative of GE Vernova’s workforce on April 30, 2024. The data is inclusive of employee voluntary self-identification for disability (U.S.) 
and U.S. veteran status.
Underrepresented minorities in our U.S. based workforce 
DEMONSTRATE PROGRESS ON GLOBAL 
GENDER REPRESENTATION AND LOCALLY 
UNDERREPRESENTED POPULATIO
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Asia Pacific Allies and Friends (APAF) 
supports our Asian Pacific Islander 
(API) employees and offers global 
education, mentoring, and networking 
opportunities to grow leadership abilities.
MISSION
Connect through care, attract 
and develop a diverse culture 
to be the voice for sustainable energy.
2023 KEY PROJECTS
	
բ Cared for and connected employees;
	
բ Developed and attracted talent; 
	
բ Gave back to our communities.
“Many people have supported, 
mentored, and simply stood by me 
during my journey. Being active in APAF 
reflects my commitment to create a 
safe space where people, irrespective 
of their heritage, can find support and 
mentorship to help them develop and
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The Latin and Allies Network (LAAN) is 
committed to creating an inclusive environment 
where Hispanics can thrive and become a 
culture catalyst for GE Vernova. 
MISSION
Leading a new era of diversity, equity, and 
inclusion, with members across the globe 
bringing the Energy to Change the World. 
Committed to build on GE’s legacy and create 
new opportunities for employees to thrive 
and become a culture catalyst for GE Vernova 
while promoting Hispanic heritage, Latin 
culture, and allyship across all ERGs.
2023 KEY PROJECTS
	
բ Provided development opportunities 
for members across GE Vernova;
	
բ Advised the planning team for annual 
leadership summit;
	
բ Hispanic Forum LIFT
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The Sustainability Network (SN) 
was formed in 2018 by a small 
group of employees who were 
inspired by the former GE’s 
carbon neutrality commitment. 
MISSION
To advance GE Vernova’s sustainability 
commitments through a grass roots 
approach that empowers employees 
to create change and protect the earth 
and its inhabitants.
2023 KEY PROJECTS
	
բ Joint event with the Women’s 
Network – Protecting our Glaciers 
and Understanding Threats from 
Climate Change;
	
բ Joint event with the Disability 
Advocacy Network – Mental 
Health in the Workplace;
	
բ Sustainability Heroes Speaker Series;
	– Sustainable Architecture at home
	– Implementing Sustainable 
Strategies on Dogger Bank
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The Women’s Network (WN) was 
created to empower, energize, and 
elevate women to help ensure equity.
MISSION
Inspiring, elevating and empowering women 
and allies to advocate, to network and to 
develop an inclusive culture for GE Vernova.
2023 KEY PROJECTS
	
բ GE Vernova Coming Together Series;
	– How to Thrive in an Ever-Changing 
Environment
	– Well-being, Belonging, and Work: 
Committing to Changes that Last
	– Fireside chats with the Executive 
Leadership Team
	– Think Green: Protecting our Glaciers 
and Understanding Threats from 
Climate Change
	– Cybersecurity and Social Media Awareness
	
բ Society of Women Engineers 
(SWE) partnership;
	
բ Women in Science and Engineering
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Transitioning the strong ethical 
and compliance culture of GE 
to GE Vernova goes beyond 
The Spirit & The Letter, our code of 
conduct, but also requires giving our 
employees the tools and principles 
to drive ethical decision-making 
practices at GE Vernova.
HOW WE OPERATE 
The engagement and oversight of our senior 
management is critical to implementing an 
effective program and building a strong ethical 
culture. Our Chief Compliance Officer is 
accountable for developing and implementing 
our compliance program, including the following: 
	
բ Developing and maintaining the company’s 
code of conduct; 
	
բ Defining and assessing risk; 
	
բ Establishing compliance and central
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COMPLIANCE TRAINING AND 
COMMUNICATIONS 
GE Vernova has a focused training and 
communications plan to educate employees 
about the risks associated with their work. With a 
broad workforce and changing demographics, we 
constantly refresh and customize to stay relevant. 
New salaried hires at all GE Vernova business 
units receive training on the S&L when they 
start. We expect all salaried employees to 
undergo refresher training on a two-year cycle, 
and complete an acknowledgement annually, 
subject to local law restrictions. Additional 
training on key risk areas is provided to targeted 
employee groups based on risk along with a 
variety of communications (e.g., leadership 
m
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բ Rigorous internal controls and accounting 
processes designed to detect and prevent 
violations of company policy relating to 
improper payment risks, and to ensure 
accurate books and records relating 
to transactions; and
	
բ Increased emphasis and enhanced due 
diligence concerning improper payments 
risk associated with mergers, acquisitions, 
and joint ventures. The GE Vernova Integrity 
Guide for Suppliers, Contractors and 
Consultants contains our specific expectations 
for suppliers regarding lawful business 
practices and anti-corruption.
GE Vernova Integrity Guide for Suppliers, 
Contractors, and Consultants  
VOICE OF INTEGRITY: OPEN REPORTING 
Every employee is resp
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HUMAN RIGHTS
As a global company with a 
vast reach and extensive value 
chain, it is important we treat our 
employees, workers, customers, 
suppliers, and communities with 
fairness and dignity to support a 
just Energy Transition. The Thrive 
pillar in our Sustainability Framework 
prioritizes human rights by setting 
the ambition to advance safe, 
responsible, and equitable working 
conditions in our operations and 
across our value chain.
Our Human Rights Statement of Principles 
and Human Rights policy stem from the United 
Nations Guiding Principles for Business and 
Human Rights, the Organisation for Economic 
Co-operation and Development Guidelines for 
Multinational Enter
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WORKER WELFARE
COMMUNITY WELFARE
SALIENT RISKS
How we address our salient risks:
Human
Rights Policy
Supplier Responsibility
Governance and Due Diligence
Code
of Conduct
Partnerships
SAFE AND JUST
WORKING CONDITIONS
01
FORCED LABOR
AND CHILD LABOR
02
INDIGENOUS
RIGHTS
03
PRODUCT &
ENVIRONMENTAL
STEWARDSHIP
04
HUMAN RIGHTS POLICIES AND STANDARDS 
GE Vernova’s Code of Conduct, The Spirit & 
The Letter (S&L), applies to our employees, 
directors, and officers, and details our human 
rights expectations within the Respectful 
Workplace, Human Rights, and EHS policies. 
The Respectful Workplace policy sets out our 
expectations for employees, directors, and 
officers for how we treat ou
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governance of the business’s salient risk areas. 
Our diverse assessments have surfaced 
the following top salient human rights issue 
areas for our company-wide operations, 
including forced labor, child labor, prison labor, 
freedom of association, working conditions, 
community welfare, and operating in higher 
risk territories. This Report outlines how our 
Sustainability Framework, and our underlying 
policies, protocols, and governance, aim to 
manage our ongoing mitigation, tracking, 
and evaluation of these salient risk areas. 
Given the nature of our products and services, 
and the complexity of our global supply chain, 
modern slavery risks inherently may exist within 
our business relationships. Our due diligence 
and risk assessments have
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We conduct an integrated risk assessment, which includes human rights, 
for both upstream and downstream due diligence processes. Our Know 
Your Supplier (KYS) and Know Your Customer (KYC) processes set out the 
basic compliance expectations and requirements for due diligence, and are 
linked to the Human Rights Enterprise Standard, which detail how we assess 
suppliers, customers, and commercial third parties for human rights risks.
For supplier due diligence, upstream direct 
business partners follow the Know Your Supplier 
(KYS) process, where each supplier is individually 
assessed based upon risk criteria, see pages 
86-88 of this repor
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GOVERNANCE (SRG) PROGRAM 
In addition to the KYS process, we evaluate 
certain high-risk suppliers providing direct 
materials incorporated into our products through 
our SRG program. The purpose of this program 
is to assess and improve our supply chain, 
particularly working and labor conditions in 
our value chain. A program adopted from GE, 
SRG assesses a potential supplier’s practices 
regarding ethics, compliance, sustainability, 
human rights, and EHS issues. The SRG program 
applies a systematic approach for assessing 
risks in our direct material supply chain, and 
prioritizes auditing suppliers by factoring in key 
risk indicators. Trained auditors visit the supplier’s 
facility, use a standardized questionnaire, 
and review guidelines to
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GOVERNANCE (SRG) PROGRAM
Total Global Audits
604
Total Suppliers Approved
581
Total Suppliers Rejected
23
Total Findings1
3,651
Percentage of Findings per Category: 
Human Rights & Labor
21%
HUMAN RIGHTS DUE DILIGENCE
1	 Findings identified vary from policy improvements to process changes. 
GE Vernova tracks issues to closure with verification that such issues 
were properly addressed, and has a policy of suspending or terminating 
a relationship should the supplier fail to implement adequate measures 
as required by the correction action plan.
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TRAINING
Our employees receive h
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KRISTIN CARVELL 
President,  
GE Vernova Foundation, 
Chief Communications 
Officer, GE Vernova
Funding a charitable foundation and 
keeping philanthropy at the core of 
our business were key priorities for 
GE Vernova’s leadership team as 
we became a stand-alone company 
in April 2024. The newly launched 
GE Vernova Foundation, a charitable 
organization funded by GE Vernova, 
is committed to putting our purpose 
– the Energy to Change the World 
– into practice across the global 
communities where we live and work.
I am honored to serve as the Foundation’s 
President as we build on the 100+ year legacy of 
the GE Foundation to drive the Energy Transition 
forward, improve the li
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Next Engineers is a global college and  
career-readiness program providing students, 
ages 13 to 18, with first-hand experiences 
in engineering concepts and careers. The 
program ultimately awards partial scholarships 
to pursue higher education in engineering or 
engineering apprenticeships, and is supported 
by GE Vernova volunteer teams in three cities: 
Greenville, South Carolina; Johannesburg, 
South Africa; and Staffordshire, UK. Next 
Engineers has reached more than 13,000 
students since its inception. 
The program offers three inspiring initiatives 
to engage students on their paths to 
engineering studies: 
Engineering Discovery is for students aged 
13 to 14 to introdu
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VOLUNTEERS
GE Vernova’s volunteers include employees, 
retirees, Employee Resource Groups, friends, 
and family members who are passionate about 
improving the communities where we operate. 
Employees around the globe mobilized for a week 
of service during Earth Week 2023, where they 
gave back to our communities and the planet. 
In just one week, 4,500 employees from over 
40 sites completed over 140 volunteer projects 
and other activities. These included planting 
trees, cleaning up rivers and beaches, and 
beautifying communities; giving away trees and 
plants to employees, bringing in local community 
organizations to make local connections; and 
educating future generations
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ADDITIONAL AREAS OF FOCUS
2023 Board Oversight | page 97 
 
Enterprise Risk Management (ERM) | page 99 
 
Data Privacy and Cybersecurity | page 101 
 
Customer Satisfaction | page 103 
 
Supporting Communities in the Energy Transition 
Through Our Projects and Investments | page 104 
 
Policy, Advocacy, and Engagement | page 106 
 
Paris Agreement Aligned Lobbying Report | page 109 
 
COP28 | page 112 
 
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
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2023 BOARD OVERSIGHT
The GE Board of Directors (“GE Board”) 
set the tone from the top for GE’s 
culture and provided independent risk 
oversight, with a focus on the most 
significant risks facing the company. 
In 2023, the GE Board progressed 
plans to launch GE Vernova as 
a purpose-built company.
In 2023, the GE Board oversaw management in 
establishing and executing the corporate strategy, 
managing risk, and planning for the future of two 
independent, investment-grade public companies, 
including GE Vernova.
SUSTAINABILITY FOCUS IN 2023
The GE Board oversaw the company’s sustainability 
priorities and initiatives as an integrated part of its 
overall strategy and risk manage
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The GE Board’s Governance & Public Affairs 
Committee (GPAC) had primary oversight of the 
company’s priorities and external reporting related 
to sustainability and ESG matters. This included 
supporting the full GE Board’s oversight of 
strategy, risks, and opportunities related to climate 
change. The GPAC also oversaw political spending 
and lobbying, human rights and environmental, 
health and safety matters. 
The GE Board’s Audit Committee also had a role 
to play in sustainability and ESG matters, to the 
extent those topics related to financial reporting 
and regulatory requirements. This included 
reporting on these matters in SEC filings and 
data quality related to this reporting.
The Management Development & Compensation 
Committee had oversight of stra
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established the governance structure 
of our Board, including committee 
structure, and facilitated the build-out 
of our experienced management team. 
The composition of the GE Vernova 
Board is fit for purpose to help 
GE Vernova rise to its focused mission 
as an independent company.
As the GE Board looked toward the future of GE Vernova, the GE Board and its committees 
embedded sustainability in GE Vernova’s core governance structure, including: 
Created a Safety and Sustainability 
Committee of the GE Vernova Board, 
in addition to the three traditional 
board committees (Audit, Nominating 
and Governance, and Compensation 
and Human Capital). The addition of 
this committee reflects the GE Board’s 
Commitment to position GE Vernova as 
an independent company
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NOMINATING AND 
GOVERNANCE COMMITTEE
Devoted primarily to reviewing, defining, and 
articulating the company’s governance structure and 
practices. This committee resolves conflicts of interest 
involving a GE Vernova director or an executive officer, 
and reviews and considers shareholder proposals and 
director nominees, if received. 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 
in
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OUR ERM FRAMEWORK
ENTERPRISE RISK MANAGEMENT (ERM)
Given the breadth and global reach 
of GE Vernova, it is crucial to ensure 
we have a robust enterprise risk 
management process in place, and 
that it addresses risks that could 
impact the entire company. We 
developed our ERM process to align 
with our business strategy, and have 
reinforced it to meet specific criteria. 
HOW WE OPERATE 
Our ERM process is led by the ERM Operations 
Leader under the guidance of the Chief Risk 
Officer. The ERM Operations Leader works 
with designated risk professionals in our Power, 
Wind and Electrification segments, and is 
responsible for identifying and assessing risks 
in these segments. Th
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RISK MITIGATION 
The countermeasures to the identified risks are 
developed and implemented by the relevant 
business units or functional teams – their 
effectiveness is reviewed during the business unit 
or functional team’s monthly operating reviews, 
and audited as necessary through an annual 
audit plan by our internal audit function focusing 
on mitigation plan adherence and effectiveness. 
Longer-term mitigations are integrated into 
the annual strategy development process. 
Additionally, key risk indicators are monitored to 
anticipate trends and highlight emerging risks.
OUR PATH FORWARD
We intend to further develop the ERM operating 
process to ensure we capture a more int
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DATA PRIVACY AND CYBERSECURITY
In preparation for spin in 2023, 
GE Vernova established stand-alone 
capability to monitor and improve 
compliance for cybersecurity and 
privacy. We protect information about 
our employees, customers, suppliers, 
and company, and safeguard the 
technology resources we provide 
to our employees and contractors. 
We take a risk-based and layered 
defense approach, using multiple 
layers of security controls throughout 
our systems, along with a security 
and privacy-by-design approach 
to build these capabilities into our 
products, tools, and processes. 
This aims to enable us to proactively 
protect against, and respond to, 
a dynamic cyber threat
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as granted by privacy and data governance 
accountability agent TrustArc. 
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CYBERSECURITY: HOW WE OPERATE
Our Chief Information Security Officer (CISO) is 
responsible for developing an information security 
program, which includes Business Information 
Security Officers (BISOs) who help develop 
and execute strategy. Our Audit Committee 
periodically monitors and annually assesses our 
cybersecurity practices and risk exposures and 
reviews compliance with such practices and 
controls to monitor and mitigate our exposure. We 
have adopted the National Institute of S
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governance, risk assessment, control definition, 
and effectiveness measures. 
We have implemented a risk-based and layered 
defense approach to cybersecurity, which 
combines multiple mitigating security controls 
to protect our resources and information, and 
our cyber resiliency. The cybersecurity risk 
framework is applied across our enterprise 
systems, shared services, and supply chain.
To govern, identify, and protect information 
we store and process, we maintain information 
technology and infrastructure that implements 
administrative and technical controls. These 
controls include, and are not limited to, managing 
customer data, personal information, intellectual 
property, and GE Vernova proprietary data.
We also maintain processes desig
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governance of cybersecurity across product 
life cycles, vulnerability management, customer 
notifications, incident response, and issuing 
security bulletins and advisories. Working with 
product security leaders and engineering and 
product teams, we continuously work on secure 
life cycle development practices to safeguard 
our software and connected products.
OUR CYBERSECURITY APPROACH
Security awareness: Security awareness training 
helps our employees understand their information 
protection and cybersecurity responsibilities. 
It also helps them identify phishes and other 
cyber threats, exercise vigilance, and use secure 
methods when sharing sensitive information with 
third parties or using social media.
Vulnerability management: According