The History of Kohlberg, Kravis, Roberts & Co & the Environmental Defense Fund
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When Henry Kravis and his business partner George Roberts founded Kohlberg, Kravis, Roberts & Co (KKR) in the 70’s with the help of the First Chicago Corporation, the company’s specialization was in leveraged buyouts. Recently they have set up a unique green project that focuses not just on profitability, but in addition on how environmentally friendly each of their companies are. KKR’s Henry Kravis and the independent Environmental Defense Fund (EDF) joined forces in 2008, with the mission of making environmentally aware business practice a commonplace principle. The coalition wants to oppose some crucial environmental matters, for example hazardous chemical use, toxic chemical use, overblown consumption of water resources, and deforestation. In order to accomplish this, they deploy a procedure dubbed eco-efficiency, this involves practical techniques like reducing the waste of resources, optimizing data centers for efficiency, and fuel economy. Regardless of the fact that the program was an enormous success, no-one recognized how extensive the results truly were until Ken Mehlman, the man responsible for the Green Portfolio Project, examined the figures for the first 12 months. Ken who graduated from Franklin and Marshall College in 1988, has also served as director of the White House Office of Political Affairs from 2000 through 2005, was appointed to the U.S. Holocaust Memorial Council in 2007 and presently serves as a member of the Senior Advisory Committee of the Harvard University Institute of Politics, the Council on Foreign Relations Climate Change Task Force, and the executive leadership cabinet of the Martin Luther King, Jr. National Memorial Foundation, found that practicing eco-efficiency wasn’t simply protecting the local environment, but it was also helping to save companies a remarkable amount of money, making the program virtually an immediate success. Virtually all of the firms associated with Kohlberg, Kravis, Roberts & Co and Ken Mehlman now are participating in eco-efficiency techniques. Nevertheless, when you consider that the group has a 2009 business portfolio worth eighty-six billion USD, you can be sure that this wasn’t an easy feat.
The original program has evolved far beyond its original remit and now encompasses new ventures. The Climate Corps Program set up by the Environmental Defense Fund is a good example of this, it promotes eco-efficient principles to MBA interns. KKR and Ken Mehlman have been developing a package of analytical tools which quantify and administer various resources. These products permit management to evaluate their progress and discover any underlying issues.
The business world has been totally revolutionized by the ground breaking efforts of Henry Kravis, the KKC, and the Environmental Defense Fund. So, to summarize, the work of these organizations has made environmentally friendly business techniques not only viable, but commercially desirable, and their revolutionary ideas are setting a new standard in today’s world.