Del Monte Foods, Sealy and US Foods are among 25 of KKR’s Green Portfolio Program companies that have avoided more than 2.3 million metric tons of greenhouse gases and achieved about $1.2 billion in cost savings and new revenue between 2008 and 2013.
KKR formed its Green Portfolio Program in partnership with the Environmental Defense Fund in 2008 to improve the environmental performance of its businesses, and was the first partnership of its kind between a private equity firm and an environmental organization.
In addition to cutting GHGs, since launching the partnership, portfolio companies have achieved the following:
- Avoided 27 million cubic meters of water use
- Avoided 6.3 million tons of waste, while also recycling more than 1.6 million tons of waste
Since its inception, portfolio companies across North America, Europe, and Asia have participated in the Green Portfolio Program. Companies reporting 2013 results include Accellent, Biomet, BIS Industries Limited, Capsugel, Dalmia Bharat Cement, Del Monte Foods, Dollar General, First Data, HCA, Kion Group, Oriental Brewery, Panasonic Healthcare, Pets at Home, SunGard, Tarkett, US Foods, Van Gansewinkel Groep, Versatel, Visant and Wild Flavors.
The portfolio’s performance has almost doubled since KKR’s report in December 2012. At that time, GHGs avoided were 1.2 million metric tons, water use was 13.2 million cubic liters, and waste was at 3.4 million tons of waste for the period between 2008 and 2011, and collectively, portfolio companies had achieved over $644 million in financial impact.
In December 2012, the Environmental Defense Fund launched an environmental, social and governance management tool for the private equity industry. The tool’s design was informed in part by EDF’s experience partnering with private equity firms such as KKR.