Siemens, Europe's biggest engineering group and conglomerate, is positioning itself to become the world's greenest company, announcing plans to grow its "green portfolio" of products that save energy, reduce emissions or protect water and air by around 43 per cent to more than €40bn ($US55 billion) in the next four years, putting it way ahead of competitors like GE which made only $18 billion from its Eco-imagination portfolio of products.
The Siemens portfolio includes wind turbines, energy-efficient lighting and train carriages with environmental features.
Of course, part of the problem here is we don't actually know what constitutes a green portfolio. It can be anything which suggests that the exercise might be more about marketing.
Still, China is likely to be the big growth driver for Siemens with the announcement that the company has just been awarded a contract to provide a Chinese city with electric vehicle charging infrastructure. Given that China now has the world's biggest car market, it's another sign that sustainability is good business.
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