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Leading Private Equity Firm to Improve Environmental Performance of Portfolio Companies and Internal Operations
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Posted: 01-May-2008; Updated: 01-May-2008
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FOR IMMEDIATE RELEASE
(New York, NY - May 1, 2008) Environmental Defense Fund (EDF) and Kohlberg Kravis Roberts & Co. L.P. (KKR) today announced a “Green Portfolio” partnership to measure and improve the environmental performance of companies within KKR’s U.S. portfolio. Building on their successful collaboration in the 2007 acquisition of TXU Corporation, the partnership is the first of its kind between a private equity firm and an environmental organization.
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KKR has committed to work with EDF to develop a set of analytic tools by which companies can assess and track improvements on a series of environmental metrics. These tools will enable managers to cost-effectively improve efficiency, reduce waste and address environmental impacts, such as greenhouse gas emissions, the use of toxic substances, waste generation or water consumption.
KKR and EDF expect that these actions will offer companies financial benefits, as well as improved environmental performance.
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KKR Cashing in on the Environment: Good for All?
May 12th, 2008 · 1 Comment
Tags: Environment · Enlightening · US
1 response so far ↓
1 Beverly // May 14, 2008 at 2:28 pm
Not sure this is “good for all” considering the KKR/EDF deal ignored the fact that TXU would still build a new coal fired power plant that will be one of the worst mercury polluters in the nation. This one plant alone will emit more mercury than the combined eight plants TXU supposedly dropped (which TXU still has yet to withdraw its permits for these 8 plants). If that’s an ok environmental standard for KKR/EDF, then their “analytical tools” won’t be of much service to the public. Looks like a really sad case of greenwashing to me.
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