11.23.09
Kohlberg, Kravis, Roberts & Co. And the Changing Face of Green Business
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Kohlberg, Kravis, Roberts & Co (KKR) was set up in the mid-seventies and initially the firm’s main business was in ‘bootstrap’ buyouts. However, aiming to make their portfolio companies and acquisitions greener and more profitable to boot, KKR have set in motion a groundbreaking proposal which has dramatically transformed the way business concerns and environmental groups work forever.
Environmentally friendly business practice became more widely acknowledged last year when KKR’s Henry Kravis and the New York based Environmental Defense Fund (EDF) joined forces. Their objectives include encouraging companies to tackle practices which may destroy the environment e.g. hazardous emissions as well as any extreme consumption of water resources. To achieve this, they deploy a formula known as eco-efficiency; this uses practical techniques like recycling programs, increasing the durability of products, and reducing the waste of resources. Even though the project was a colossal success, managment simply didn’t realize how significant the effects actually were until Ken Mehlman, the head of the program and global public affairs, analyzed the first year’s figures. Only at that point did Ken Mehlman realize that practicing eco-efficiency wasn’t just helping to conserve the local environment, but it was also helping to save companies a substantial sum of money, making the program almost an instant hit. To date, Kohlberg, Kravis, Roberts & Co and Ken Mehlman have succeeded in getting well-nigh every firm in their portfolio taking part in the Green Portfolio Project. Still, with a 2009 business portfolio with an estimated worth of 86,000,000,000 dollars, you may be sure this wasn’t an easy see what an enormous accomplishment this is. These two groups along with Ken Mehlman are developing the initial program. For instance, KKR got together with the Environmental Defense Fund’s Climate Corps Program that instructs MBA students how to introduce cost-efficient, earth friendly techniques.
KKR and Ken Mehlman have made the effort to formulate a series of metrics and analytical tools that oversee various resources. These products permit management to assess their progress and identify any underlying problems. Henry Kravis, the KKR, and the Environmental Defense Fund are true groundbreakers when it comes environmentally sound business techniques. So, to summarize, the work of these organizations has made environmentally friendly business techniques not only viable, but commercially desirable, and their novel ideas are setting a new standard in today’s world.
