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Kohlberg, Kravis, Roberts & Co (KKR) was set up by Henry Kravis and his business partner George Roberts in the 1970’s with the help of the First Chicago Corporation. But moving further, hoping to make the businesses they buy greener, KKR have set in motion a groundbreaking enterprise that has dramatically changed the method by which business concerns and environmental activists work together, in a major way. Environmentally sound business procedures became more broadly acceptable in 2008 when KKR’s Henry Kravis and the independent Environmental Defense Fund (EDF) joined forces. Their objectives include encouraging businesses to avoid environmental menaces like toxic chemical use not to forget any extravagant consumption of water resources. In order to attain this, they deploy a method dubbed eco-efficiency; this makes use of concepts such as maximum use of renewable resources, recycling programs, and waste reduction. Impressive though it was the companies who were involved did not realize the full program’s advantages until the executive in charge of the program, Ken Mehlman, assessed the program after its first year in operation. Ken Mehlman who graduated from Franklin and Marshall College in 1988, has also served as legislative director to Texas 21st Congressional District Representative Lamar S. Smith, managed the 2004 re-election campaign for President Bush, is a trustee of Franklin & Marshall College and the United States Holocaust Memorial Museum and currently serves as a member of the Senior Advisory Committee of the Harvard University Institute of Politics, and the board of directors at the National Endowment for Democracy, observed that applying eco-efficiency was not simply reducing their impact on the planet, but it was also helping to save companies a large sum of money, and consequently the Green Portfolio project became almost an immediate success. Almost all of the companies associated with Kohlberg, Kravis, Roberts & Co and Ken Mehlman now are involved in the program. Considering that the entire portfolio is worth almost 100 billion USD, you can see what a massive accomplishment this is.
The original program has grown far beyond its original purpose and now includes new ventures. For example, KKR got together with the Environmental Defense Fund’s Climate Corps Program that teaches students taking a Master’s in Business Administration how to design and initiate financially strong, planet friendly principles. What is more, Ken Mehlman has been in close collaboration with Kohlberg, Kravis, Roberts & Co to produce a series of metrics which firms can use to measure and oversee resources. These products permit a company to track their progress and discover any underlying problems. Henry Kravis, the KKR, and the Environmental Defense Fund are genuine groundbreakers in the world of green business. These innovations have made going green simpler for companies in every sector and shown that running a profitable business need not entail the hefty price of damaging the environment.
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