Reporting Portfolio Companies Avoid More Than 1.8 Million Metric Tons
of Greenhouse Gas Emissions and 19.5 Million Cubic Meters of Water Use
NEW YORK--(BUSINESS WIRE)--
KKR (NYSE:KKR), a leading global investment firm, today announced the
fifth year of results from its Green
Portfolio Program (GPP): an estimated $917 million in cost savings
and added revenue and more than 1.8 million metric tons of GHGs avoided
between 2008 and 2012.
The GPP is an operational improvement program that uses an
"environmental lens" to assess critical business activities of KKR's
participating private equity portfolio companies. Launched in
partnership with Environmental Defense Fund (EDF) in 2008, the GPP's
financial impact is a direct result of energy and water efficiency
efforts, operational improvements, and better waste handling across 19
portfolio companies reporting into the program.
"The continued impact that we see as a result of this program represents
a significant achievement for our private equity portfolio companies,
our firm, and our investment partners," said Henry
Kravis, Co-Chairman and Co-CEO, KKR. "Working with Environmental
Defense Fund to improve our portfolio companies' environmental
performance, we've shown that responsible investing can also be smart
investing. We are working to change how companies do business, helping
them save money through efficiencies while improving the environment and
positively impacting the communities where they operate."
In addition to achieving an estimated $917 million in financial impact,
the GPP participants have avoided more than 1.8 million metric tons of
GHGs, 19.5 million cubic meters of water use, and 4.7 million tons of
waste, while also recycling more than 1 million tons of waste since
2008. Put in context, this is the same as being able to power 192,500
homes and drive 104,600 cars for a year, fill more than 7,700
Olympic-sized swimming pools, and fill 335,300 garbage trucks.
"Nearing $1 billion in financial impact from environmental efforts is a
powerful way to mark the fifth anniversary of the partnership between
KKR and EDF," said Fred Krupp, President of EDF. "More importantly,
today's announcement demonstrates that environmental management has
become a core part of KKR's investment model and is taking root as a new
best practice for value creation across the private equity industry."
Since the GPP was launched in 2008, 25 portfolio companies across North
America, Europe and Asia have participated in the program with 24
companies enrolled currently and 19 of those companies reporting results
Companies reporting include Accellent, A.T.U., Bharti Infratel, Biomet,
Dalmia, Del Monte Foods, Dollar General, First Data, HCA, Oriental
Brewery, Pets at Home, Sealy, SunGard, Tarkett, TDC A/S, US Foods, Van
Gansewinkel Groep, Visant, and Wild Flavors. Companies engaged in the
program, but not yet reporting results include BIS Industries Limited,
Capsugel, Kion Group, MMI, and Versatel.
For more on KKR's Green Portfolio Program and the participating private
equity portfolio companies visit www.green.kkr.com.
Founded in 1976 and led by Henry
Kravis and George
Roberts, KKR is a leading global investment firm with $83.5
billion in assets under management as of June 30, 2013. With offices
around the world, KKR manages assets through a variety of investment
funds and accounts covering multiple asset classes. KKR seeks to create
value by bringing operational expertise to its portfolio companies and
through active oversight and monitoring of its investments. KKR
complements its investment expertise and strengthens interactions with
fund investors through its client relationships and capital markets
platform. KKR & Co. L.P. is publicly traded on the New York Stock
Exchange (NYSE:KKR), and "KKR," as used in this release, includes its
subsidiaries, their managed investment funds and accounts, and/or their
affiliated investment vehicles, as appropriate. For additional
information, please visit KKR's website at www.kkr.com.
For additional information on KKR's Green Portfolio Program visit www.green.kkr.com.
watch KKR's video on creating sustainable value visit www.kkr.com/creating-sustainable-value.
read KKR's annual Environmental, Social, and Governance (ESG) and
Citizenship report visit www.kkresg.com
Ali Hartman, 212-519-1638
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