General Electric will announce a plan on Monday that will see it investing in and developing new technologies meant to make industry’s activities less harmful to the environment.

GE’s new initiative is scheduled to be announced in a speech by the chairman and chief executive of the company in a speech in Washington, D.C., at George Washington University.

GE’s new initiative comes at a time when the Bush administration has started to encourage the development of environmentally friendly technologies.

Additionally, other industries have begun to recognize the business advantages of being seen as environmentally friendly.

These companies include several automobile manufacturers that have begun manufacturing gas-electric hybrid vehicles as well as UK energy company BP, which has recently expanded into solar power.

GE’s plan is for the company to invent “green” technologies. In order to accomplish this, GE will double its current investment in new product research.

GE will also make a commitment to reducing the production of greenhouse gasses as well as to making the environmental consequences of its operations known.