Protecting the Environment – Kohlberg, Kravis, Roberts & Co. Set the Standard
Saturday, October 31st, 2009In the beginning, when Henry Kravis and George Roberts set up Kohlberg, Kravis, Roberts & Co (KKR) in the mid-seventies with the assistance of the First Chicago Corporation, the company’s main business was in “bootstrap” buyouts. But in an exceptional attempt to make their acquisitions greener, KKR have set up a groundbreaking green enterprise which has completely changed the way business concerns and environmental agencies function.
Green business procedures went mainstream a year ago when Kohlberg, Kravis, Roberts & Co’s Henry Kravis and the independent Environmental Defense Fund (EDF) merged. Big matters like water pollution and extravagant consumption of water resources are high on their agenda.
To achieve this, they use eco-efficiency which uses down-to-earth techniques such as recycling programs, increasing the durability of products, and reducing the intensity of materials. Although the project was an enormous success, managment simply did not recognize how important the results actually were until Ken Mehlman, the executive in charge of the Green Portfolio Project, analyzed the first year’s profits.
Ken who received a J.D. from Harvard Law School in 1991, has also served as field director for George W. Bush’s 2000 presidential campaign, was the appointed Chairman of the Republican National Committee from 2005 to 2007, is, furthermore, a trustee of the United States Holocaust Memorial Museum and Franklin & Marshall College and currently serves as a member of the Council on Foreign Relations Climate Change Task Force, the Senior Advisory Committee of the Harvard University Institute of Politics, and the board of directors at the National Endowment for Democracy, noticed that the Green Portfolio Project wasn’t solely helping to protect the local environment, but in addition it was helping to save companies a remarkable sum of money, making the program almost an immediate hit. Nearly all of the companies affiliated to KKR and Ken Mehlman at present actively take part in the Green Portfolio Project. And, when you consider that the group has a current business portfolio estimated at eighty six billion dollars, you can be sure that this was no easy achievement.
Kohlberg, Kravis, Roberts & Co and the Environmental Defense Fund alongside Ken Mehlman are further expanding the initial Green Portfolio project. For instance, Kohlberg, Kravis, Roberts & Co got together with the Environmental Defense Fund’s Climate Corps Program that teaches MBA students how to put together and initiate cost-efficient, earth friendly practices.
KKR and Ken Mehlman have been creating a series of analytic tools which will be able to quantify and administer resources. These products allow a business organization see how they are impacting on the environment and discover any areas which may need improvement.
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Henry Kravis, the KKR, and the Environmental Defense Fund are true trailblazers when it comes to promoting ecologically friendly business techniques. In conclusion, the work of these organizations has made green business techniques not only viable, but commercially desirable, and their novel ideas are setting a new standard in the business world of today.