Immelt announced in a May 9, 2005, conference call that the company planned to more
than double its spending on research and development from $700 million in 2004 to $1.5 billion
by 2010 for cleaner products ranging from power generation to locomotives to water processing.
The company intended to introduce 30 to 40 new products, including more efficient
lighting and appliances, over the next two years. It also expected to double revenues from businesses
that made wind turbines, treat water, and reduce greenhouse-emitting gases to at least
$20 billion by 2010. In addition to working with customers to develop more efficient power generators,
the company planned to reduce its own emission of greenhouse gases by 1% by 2012
and reduce the intensity of those gases 30% by 2008.2 In 2006, GE’s top management informed
the many managers of its global business units that in the future they would be judged not only
by the usual measures, such as return on capital, but that they would also be accountable for
achieving corporate environmental objectives.