Today, the Environmental Defense Fund (EDF) and Kohlberg Kravis Roberts & Co. L.P. (KKR) announced a "Green Portfolio" partnership. The first environmental organization and private equity partnership, it will build on the 2007 TXU Corporation acquisition and gauge and enhance the environmental performance of KKR's portfolio of U.S. companies.
KKR and the EDF designed a set of metrics to track the environmental improvements portfolio companies have made and enable managers to improve cost-effectively enhance efficiency and reduce waste, while simultaneously addressing the impact that their greenhouse gas emissions, toxic substance use and water generation and consumption have on the environment. The concept has financial and environmental benefits for the companies that utilize the program.
Initially, the Green Portfolio will implement the program in pilot projects for six months before analyzing and applying to the full portfolio in the next year, publicly announcing results at each phase. The partnerships ultimate goal is to design a program that will be used by companies around the world.
KKR joins others in "going green" investing
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