What a turnabout. When the ruthless "Neutron" Jack Welch was running General Electric, the company was better known among environmentalists for its history of polluting New York's Hudson River with polychlorinated biphenyls than for any tendency towards touchy-feely tree-hugging.

But in an astonishing move last week, Jeffrey Immelt, Mr Welch's successor, announced that GE was going green, pledging to double the company's investment in energy- efficient and environmental technology, introduce greener products and cut its greenhouse gas emissions as part of a new, planet-friendly "Ecoimagination" initiative.