Investment firm KKR has released the results of its Green Portfolio Program (GPP) for 2013, the sixth year of the initiative. GPP is an operational improvement program that assesses the activities of KKR’s participating private equity portfolio companies from an environmental viewpoint. The program, which was launched in 2008 in partnership with the Environmental Defense Fund (EDF), considers factors such as waste, water and energy management. At present, 25 portfolio companies across North America, Europe and Asia are participating in the program, with Indian cement manufacturer Dalmia Bharat Cement among the companies that reported results in 2013.
Between 2008 and 2013, the program has achieved some US$1.2 billion in avoided costs and added revenue, avoided over 2.3 million t of GHG, saved 27 million m3 of water, avoided 6.3 million t of waste and recycled more than 1.6 million t of waste.
“This is an important milestone for the Green Portfolio Program,” said Henry Kravis, Co-Chairman and Co-CEO of KKR. “Seeing such a significant financial impact as an outcome of improving environmental factors is a win for KKR, our companies, our investors, and the communities where we all work and live.”
“When we launched this program with KKR, we were optimistic about where it could go,” added Tom Murray, Vice President of Corporate Partnerships for EDF. “Now, cutting waste, saving energy and curbing carbon emissions has led the way to more than US$1 billion in avoided costs and additional revenue for KKR's portfolio companies and has raised expectations for responsible investing across the industry.”
Adapted from press release by Louise Fordham