GE to Unveil New Environmental Initiative
HARTFORD, Conn. General Electric Co. plans to unveil a major initiative aimed at more than doubling its research investment in environmental technology in five years, the Wall Street Journal reported on its Web site Sunday.
The plan calls for doubling sales of technology products that reduce greenhouse gases and conserve water, the newspaper said.
GE Chairman and Chief Executive Jeffrey Immelt is expected to be in Washington Monday to deliver a speech pressuring the energy industry to develop policies to address carbon dioxide emissions.
Sources familiar with the plan told the newspaper the company is trying to reduce greenhouse-emitting gases such as carbon dioxide in its own operations and increase energy efficiency. It plans to do so by switching fuel sources and possibly powering a facility through wind power, the report said.
The Fairfield-based company has a troubled environmental past. Two plants discharged 1.3 million pounds of polychlorinated biphenyls into the Hudson River before the substance was banned by the government in 1977. The company is in discussions with the Environmental Protection Agency about the best way to dredge the river.
Source: Associated Press/Information from The Wall Street Journal