Business and Ecology – Henry Kravis of Kohlberg, Kravis, Roberts & Co. And the Environmental Defense Fund
When Henry Kravis and George Roberts established Kohlberg, Kravis, Roberts & Co (KKR) in the mid-seventies with the support of the First Chicago Corporation, the firm’s focus was in highly leveraged transactions. Moving further, hoping to make the companies they acquire more ecologically aware, they have founded an extraordinary project that has completely changed the method by which businesses and environmental groups operate.
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When Henry Kravis from KKR and the Environmental Defense Fund (EDF) merged last year environmental matters all of a sudden became a mainstream idea. Their goals include encouraging their associated businesses to fight against environmental threats e.g. climate change not to forget inordinate water consumption.
Eco-efficiency (the term was initially popularized by the WBCSD) is the methodology leveraged to achieve these targets, applying green policies such as reducing the intensity of materials, waste reduction and recycling programs. Even though the program was an enormous success, people just didn’t realize how significant the effects really were until Ken Mehlman, the executive in charge of the Green Portfolio Project, looked at the numbers for the first 12 months.
Ken who practiced environmental law for Akin Gump Stauss Hauer & Feld, 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 Council on Foreign Relations Climate Change Task Force, the Senior Advisory Committee of the Harvard University Institute of Politics, and the executive leadership cabinet of the Martin Luther King, Jr. National Memorial Foundation, saw that the program was not only helping to conserve the local environment, but it was also helping to save a tremendous range of companies a remarkable amount of money, making the program virtually an immediate success. Nearly all of the business organizations connected with Kohlberg, Kravis, Roberts & Co and Ken Mehlman at present are engaged in the program. Still, when you consider that the group has a 2009 business portfolio with an estimated value of $86 billion, you may be sure that this wasn’t a simple accomplishment. The Green Portfolio project now includes new enterprises. For instance, Kohlberg, Kravis, Roberts & Co got together with the Environmental Defense Fund’s Climate Corps Program that teaches interns taking a Master’s degree in Business Administration how to develop and introduce cost efficient, earth friendly techniques.
KKR and Ken Mehlman have been creating metrics and analytic tools which evaluate and manipulate various resources. With this information available, companies can measure their day to day activities and identify exactly how any issues can be resolved while simultaneously seeing their progress. Henry Kravis, the KKR, and the Environmental Defense Fund are genuine innovators in the business community. So, to summarize, these systems have made environmentally friendly business practice not only viable, but commercially desirable, and their radical ideas are setting a new standard in today’s business world.
