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Private equity firm Kohlberg Kravis Roberts & Co. is used to seeing plenty of green, but now in addition to the green of money it will also be looking at that of the environment.
The New York Times is reporting that KKR plans to announce a new partnership with environmental advocacy group the Environmental Defense Fund in a move to improve the environmental performance of its many portfolio companies. The Times writes: Kohlberg Kravis's partnership with Environmental Defense is aimed at creating measurement tools of environmental performance across several areas, from energy efficiency and greenhouse-gas emissions to water consumption and containment of toxic substances across all of its businesses...Still, it remains unclear how far Kohlberg Kravis will go in accepting environmental performance costs that affect its profits. A commitment to cleaner technologies by KKR would certainly have an impact. The New York firm, which owns 46 businesses with roughly 825,000 employees worldwide, could also spur other private equity shops to follow suit. Embracing the green movement could also give KKR and its buyout brethren some much-needed good public relations, as the industry fights off higher taxes and being negatively labeled when it comes to buying companies. - George White See NY Times article See Dealscape post on higher taxes for PE See Dealscape post on attacks on KKR CategoriesPrivate capital video
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