Company Reaffirms Commitment With New Global ESG Policy
NEW YORK--(BUSINESS WIRE)--
KKR released its 2013
Environmental, Social, and Governance (ESG) and Citizenship report
today, along with a new global private equity ESG policy. Now in its
fourth edition, KKR's ESG report outlines the Firm's commitment to
responsible investment and illustrates its progress in managing ESG
factors throughout the private equity investment process by detailing a
number of key initiatives. The private equity ESG policy codifies KKR's
responsible investment efforts to date, while also aiming to ensure a
consistent global approach to managing ESG issues moving forward.
"Reporting on our ESG efforts each year is one way we are pushed to do
more. In looking back and taking stock of where we've been, we are able
to move forward more effectively," said Ken Mehlman, Member and Global
Head of Public Affairs. "In the past year, we have improved our
ESG-related diligence processes, deepened the reach of our proactive
programs, and formalized our approach to responsible investment by
developing a new global private equity ESG policy. All of these
activities are part of the foundation for our ever-increasing focus on
The ESG policy applies to the Firm's private equity business globally
and builds on KKR's previous public commitments to responsible
investment. In 2009, KKR became a signatory of the UN-backed Principles
for Responsible Investment (PRI) and endorsed the Private Equity Growth
Capital Council Responsible Investment Guidelines. A copy of the global
private equity ESG policy is available here.
"Our approach to responsible investment is designed to help our
companies maximize their success and create long-term value," said
George Roberts, Co-CEO and Co-Chairman of KKR. "During the past six
years, we have made a lot of progress integrating ESG considerations
into our investments, but it has never been more important - or
interesting - to be committed to this work."
The following 2013 highlights are included in the report:
Creation of the KKR Global Institute (KGI) to strengthen our
ESG-related private equity diligence and support the Firm and our
investments with unique geopolitical insights.
Continued progress from the Green Portfolio Program, an
operational improvement program that uses an environmental lens to
assess critical business activities of KKR's participating private
equity portfolio companies. Since 2008, the 19 reporting companies
have achieved more than $917 million in cost savings and added
revenue, while avoiding 1.8 million metric tons of greenhouse gas
emissions, 4.7 million tons of waste, and 19.5 million cubic meters of
Expansion of the Vets @ Work initiative, an effort aimed at
recruiting and hiring veterans across KKR's U.S.-based private equity
portfolio companies. As of the end of 2013, more than 22,000 veterans
had been hired by the 18 portfolio companies participating in the
program. In 2013, the companies participating in the program doubled
from 9 to 18.
Continued to advance ESG efforts at KKR, which included
additional greening initiatives in the KKR New York office, the second
year of incentivized biometric health screenings for all KKR U.S.
employees, and firm-wide days of service at KKR global offices.
Volunteered expertise and provided resources to various nonprofit
organizations and social enterprises around the world, expanding KKR's citizenship
efforts, which included employees' giving their time and advice to
help the social enterprise East Bali Cashews improve its operations
and scale its business.
To download the 2013 ESG and Citizenship report or obtain more
information about KKR's ESG progress, click here.
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners' capital and brings opportunities to others through its capital
markets business. References to KKR's investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.
For more on KKR's Green Portfolio Program visit www.green.kkr.com.
To watch KKR's video on creating sustainable value visit www.kkr.com/creating-sustainable-value.
To read KKR's Private Equity ESG Policy visit www.kkr.com/_files/pdf/kkr-esg-policy.pdf
To read KKR's 2013 ESG and Citizenship Report visit www.kkresg.com
Ali Hartman, 212-519-1638
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