Results from 13 companies show $365 million financial impact and
810,000 avoided metric tons of greenhouse gas emissions
Six companies report for the first time, including companies in Asia
and Europe
NEW YORK--(BUSINESS WIRE)--
Kohlberg
Kravis Roberts & Co. L.P (together with its affiliates, "KKR")
today announced the latest results from its Green
Portfolio Program. Through energy efficiency, waste handling,
process improvements and other initiatives, participating private equity
portfolio companies cumulatively have avoided approximately $365 million
in operating costs, over 810,000 metric tons of greenhouse gas
emissions, 2.2 million tons of waste, and 300 million liters of water
since 2008.
"We launched the Green Portfolio Program with Environmental
Defense Fund because we believed environmental innovation would pay
off for our portfolio companies and we are pleased to see the program
making such progress," said George Roberts, Co-Founder and Co-Chief
Executive Officer of KKR. "The expanding global reach of the program
speaks volumes about the common understanding that good business and
improving the environment are often inextricably linked."
Reporting for the first time are: A.T.U.,
First
Data, Oriental
Brewery, Pets
at Home, Tarkett
and WILD
Flavors. The U.S.-based companies already participating in the
program are: Accellent,
Biomet,
Dollar
General, HCA,
Sealy,
SunGard,
and US
Foods. Due to the fact that Primedia
is no longer a KKR portfolio company, it is not reporting into the
program. A.T.U., based in Germany, is a new participant in the program.
Three other companies joined the Green Portfolio Program in 2010 and
will report results in 2012: Bis
Industries Limited, located in Australia; Van
Gansewinkel Groep, located in The Netherlands; and Visant
Corporation, located in New York.
"At its core, the Green Portfolio Program has always been about
partnership, collaboration and creating sustainable value," said Ken
Mehlman, Head of Global Public Affairs and a Member of KKR. "While there
is always more to do, these results reflect continued momentum that is
driving a positive impact on the environment and across our private
equity portfolio."
Launched in May 2008 as a partnership between KKR
and Environmental Defense Fund, the KKR Green Portfolio Program offers a
set of analytic tools and metrics to help companies measure and improve
environmental performance, including greenhouse gas emissions, waste
generation, and use of water, forest resources and priority chemicals.
These tools help managers cost effectively improve efficiency and reduce
waste, which leads to cost savings.
"Today's institutional investors want their dollars to create both
financial returns and environmental and social value," said Gwen Ruta,
Vice President of Environmental Defense Fund. "KKR's Green Portfolio
program is a great model for investors who want to see rigorous and
transparent environmental results."
The Green Portfolio Program is part of a broader effort at KKR to create
sustainable long-term value by addressing environmental, social and
governance ("ESG") issues in its private equity investments. As part of
this effort, KKR has added talent to its team of individuals focused on
ESG issues. In late 2011, KKR hired an ESG and Stakeholder Engagement
Manager, resulting in two full-time employees focused entirely on these
issues.
In 2009 KKR became a signatory of the globally recognized voluntary
framework of the United Nations-backed Principles
for Responsible Investment. KKR also has built a network of external
partners, including, Business for Social Responsibility, Center for
American Progress, and CSR Europe. These organizations regularly help
KKR and its portfolio companies understand and address various ESG
issues. More information on all of these efforts is included in KKR's
first sustainability report, available at http://www.kkrannualreport.com.
Details on the Green Portfolio Program results, including what the
portfolio companies have done to achieve them, can be found at www.green.kkr.com.
About KKR
Founded in 1976 by Henry
Kravis and George
Roberts, KKR is a leading global investment firm with $58.7 billion
in assets under management as of September 30, 2011. 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 investors through
its client relationships and capital markets platform. KKR is publicly
traded on the New York Stock Exchange (NYSE: KKR). For additional
information, please visit KKR's website at www.kkr.com.
Kohlberg Kravis Roberts & Co. L.P.
Kristi Huller, (+1)
212-750-8300
Kristi.Huller@kkr.com
Source: Kohlberg Kravis Roberts & Co. L.P
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