NEW YORK — The Environmental Defense Fund (EDF) and Kohlberg Kravis Roberts & Co. L.P. (KKR) today announced a "Green Portfolio" partnership to measure and improve the environmental performance of companies within KKR's U.S. portfolio.  The partnership is the first of its kind between a private equity firm and an environmental organization.

KKR has committed to work with EDF to develop a set of analytic tools by which companies can assess and track improvements on a series of environmental metrics. These tools will enable managers to cost-effectively improve efficiency, reduce waste and address environmental impacts, such as greenhouse gas emissions, the use of toxic substances, waste generation or water consumption.

KKR and EDF said they expect that these actions will offer companies financial benefits, as well as improved environmental performance.

Over the next three to six months, EDF and KKR will conduct pilot projects within the KKR portfolio to develop analytic tools that can then be applied across a broader range of KKR portfolio companies over the next year.  Results will be made public at the end of both phases.  Once developed, EDF and KKR said they will make the processes, tools and results of their joint effort publicly available, with the mutual goal of having these tools implemented by other companies around the world.

Concurrently, KKR has committed to improving the energy efficiency of its own office operations, including by participating in EDF's Climate Corps Program.  As part of this commitment, KKR will undergo an energy audit of its offices, analyze the financial and environmental benefits of available energy efficiency improvements and implement those that are most cost-effective.

A national nonprofit organization, EDF represents more than 500,000 members.  Since 1967, EDF has linked science, economics, law and private-sector partnerships to create solutions to the most serious environmental problems.

Established in 1976, KKR is a leading global alternative asset manager.  The core of the firm's franchise is sponsoring and managing funds that make private equity investments in North America, Europe, and Asia.  KKR has offices in New York, Menlo Park, San Francisco, London, Paris, Hong Kong, Beijing and Tokyo.