Kohlberg, Kravis, Roberts & Co. And the Environmental Defense Fund — Trendsetters in Green Business
Initially, when Henry Kravis and his business partner George Roberts set up Kohlberg, Kravis, Roberts & Co (KKR) in the mid-seventies with the assistance of the First Chicago Corporation, the company’s specialization was in “bootstrap” buyouts. But they have set up a remarkable green project which centers not solely on optimized profit margins, but in addition on how ecologically friendly each of their companies are. Environmentally friendly business practices became more generally adopted a year ago when Kohlberg, Kravis, Roberts & Co’s Henry Kravis and the the Environmental Defense Fund (EDF) joined forces. This alliance intends to fight some challenging matters hurting the environment, including hazardous emissions, toxic waste, unreasonable water consumption, and hazardous chemical use.
Eco-efficiency (a phrase initially pitched by the World Business Council for Sustainable Development WBCSD) is the method employed to achieve these targets, applying green policies such as recycling programs, improving fuel economy through vehicle fleet maintenance and reducing the waste of resources. The program was successful, however the management didn’t even realize the full project’s advantages until Ken Mehlman, the head of the project and global public affairs, reviewed the numbers from the program when it had been up and running for a year.
Ken Mehlman who graduated from Franklin and Marshall College in 1988, has also served as Chief of Staff for Texas 12th Congressional District Representative Kay Granger, was appointed to the U.S. Holocaust Memorial Council in 2007 and serves as a member of the board of directors at the National Endowment for Democracy, and the Council on Foreign Relations Climate Change Task Force, found out that the project wasn’t just reducing their impact on the environment, but it was also helping to save business concerns a great deal of money. Virtually all of the firms linked with Kohlberg, Kravis, Roberts & Co and Ken Mehlman now actively take part in the Green Portfolio Project. And, with a current business portfolio worth eighty-six billion dollars, you can be certain this was not an easy feat. The initial project has evolved far beyond its basic purpose and nowadays encompasses new enterprises. The Climate Corps Program founded by the EDF is just one of these, it advances financially sound, green principles to interns taking a Master’s in Business Administration.
KKR and Ken Mehlman have made the effort to develop a series of metrics and analytical tools which will be able to manipulate resources. Systems such as these can assess a company’s environmental impact and identify any underlying problems.
Henry Kravis, the KKC, and the Environmental Defense Fund have encouraged all sorts of businesses to become more ecologically friendly. So, to summarize, 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.
