How Henry Kravis of Kohlberg, Kravis, Roberts & Co. Works alongside the Environmental Defense Fund
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In the beginning, when Henry Kravis and George Roberts launched Kohlberg, Kravis, Roberts & Co (KKR) in 1976 with the help of the First Chicago Corporation, the firm’s focus was in “bootstrap” buyouts. But hoping to make their acquisitions more environmentally aware, they have set up a remarkable venture that has entirely changed the method by which business concerns and environmental agencies carry on their day-to-day business.
Environmentally aware business procedures became more broadly accepted last year when KKR’s Henry Kravis and the non-profit environmental advocacy group Environmental Defense Fund (EDF) merged. They wanted to campaign against many primary matters damaging the ecology of the planet, for instance hazardous chemicals, hazardous emissions, absurd consumption of water resources, and air pollution. Eco-efficiency (the phrase was originally submitted by the World Business Council for Sustainable Development) is the technique used to achieve these goals, through employing green policies like maximum use of renewable resources, improving fuel economy through vehicle fleet maintenance and reducing the dispersion of toxic chemicals. Regardless of the fact that the project was an enormous success, people simply did not recognize how extensive the results were until Ken Mehlman, the head of the program and global public affairs, reviewed the first year’s profits.
Knocking off all expectations, Ken discovered that applying eco-efficiency not only diminished the overall impact on the planet, but also increased the profits from all their businesses besides. Virtually all of the firms owned by KKR and Ken Mehlman today take part in the Green Portfolio Project. Considering that this portfolio of businesses has a net worth of 86,000,000,000 dollars, you can see what an enormous achievement this really was. KKR and the Environmental Defense Fund in association with Ken Mehlman are expanding the original program. To illustrate, KKR linked up with the EDF’s Climate Corps Program which instructs interns studying for a Master’s in Business Administration how to encourage cost-efficient, green techniques.
Furthermore, Ken Mehlman has been in close collaboration with Kohlberg, Kravis, Roberts & Co to create metrics which firms can use to quantify and manage resources. Programs like these can measure a company’s progress and discover any underlying problems.
Henry Kravis, the KKR, and the Environmental Defense Fund are true visionaries in the world of green business. Their developments have made going green easier for business organizations in any industry and established that running a profitable business need not entail the hefty price of negatively impacting our planet.
