Green Investor Alert: KKR's (NYSE:KKR) Green Portfolio Program Surpasses $900 Million in Financial Impact While Improving Environmental Performance of Private Equity Portfolio Companies
Reporting Portfolio Companies Avoid More Than 1.8 Million Metric Tons of Greenhouse Gas Emissions and 19.5 Million Cubic Meters of Water Use Since 2008
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NEW YORK - October 17, 2013 (Investorideas.com Water Stocks Newswire) 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.
"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."
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 this year.
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.
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