Initially, when Henry Kravis and his business partner George Roberts set up Kohlberg, Kravis, Roberts & Co (KKR) in the 70’s with help from the First Chicago Corporation, the firm’s focus was in highly leveraged transactions. However, aiming to make their acquisitions greener, KKR have set up a remarkable green proposal that has changed the way businesses and environmental activists operate. When Henry Kravis from KKR and the Environmental Defense Fund (EDF) got together in 2008 green issues in the business world became a hot topic. This alliance wants to fight key matters affecting the ecology of the planet, such as hazardous waste, global warming, excessive consumption of water resources, and deforestation.
In order to achieve these goals, they utilize a technique termed eco-efficiency, this calls for concepts such as improving fuel economy through vehicle fleet maintenance, waste reduction, and recycling programs. Effective though it was the management did not even understand the full program’s benefits until the man responsible for the project, Ken Mehlman, evaluated the program subsequent to a full year in operation. Much to everybody’s surprise, Ken realized that the Green Portfolio Project not only increased environmental awareness, but also increased the the profit from every last business besides. Well-nigh all of the business concerns owned by Kohlberg, Kravis, Roberts & Co and Ken Mehlman today participate in the Green Portfolio Project. Considering that this group of companies is valued at virtually one hundred billion USD, you can see what an enormous achievement this is.
The Green Portfolio project is expanding to encompass new and innovative enterprises. To illustrate, KKR joined the Environmental Defense Fund’s Climate Corps Program a venture that teaches interns taking a Master’s degree in Business Administration how to develop and initiate cost-efficient, ecologically friendly techniques. Lately, Ken Mehlman has been in close collaboration with KKR to formulate a package of metrics which a range of businesses can utilize to quantify resources. These systems permit employees to evaluate their progress and discover any practices that may need improving.
Henry Kravis, the KKC, and the Environmental Defense Fund have encouraged all sorts of businesses to become more environmentally friendly. These innovative concepts have set a benchmark for organizations in every sector and established that running a profitable business need not entail the hefty price of damaging the environment.
