KKR announced the fourth year of results from its
Green Portfolio Program (GPP)
today. Launched in 2008 with Environmental Defense Fund (EDF), the GPP comprises 24 enrolled KKR private equity portfolio companies focused on improving their environmental and business performance around the world. Through efforts in energy and water efficiency, better waste handling, and operational improvements, the reporting portfolio companies achieved approximately $644 million in combined financial impact and avoided more than 1.2 million metric tons of greenhouse gas emissions, 3.4 million tons of waste, and 13.2 million cubic liters of water use, cumulatively from 2008 through 2011.
"Nearly five years since we started on this journey with EDF and our portfolio companies, our results continue to demonstrate the significant environmental and financial benefits of our program’s efforts,” said
, Co-Founder and Co-Chief Executive Officer of KKR. “However, the results also show us the enormous opportunities that remain to continue to improve operations and enhance the companies in which we invest. Our commitment to partnering with our portfolio companies on environmental sustainability remains strong.”
The Green Portfolio Program was designed to encourage innovation, reduce environmental impacts, and improve the financial bottom line of KKR’s participating private equity portfolio companies. The program began with just three portfolio companies. During the last four years, the GPP has grown to encompass 24 of KKR’s portfolio companies globally, including the addition of eight new companies in 2012:
Del Monte Foods
in the U.S.;
Dalmia Bharat Cement
in India; and
in Singapore. TDC, Van Gansewinkel, and Visant are reporting results for the first time. The remaining new companies are expected to report results for the first time in 2013.
"Moving forward, in addition to working intensively with GPP participants, we will focus on sharing our findings and best practices across the entire KKR portfolio,” said Ken Mehlman, Head of Global Public Affairs and a Member of KKR. “We are proud of our progress to date and believe this is the next step in scaling the program to create an even-larger opportunity for positive impact in our portfolio and beyond."