To better understand how to approach ESG risks and opportunities as a Firm, in 2011 we analyzed our relative degree of influence and control over ESG factors in the pre-investment and investment phases across our asset classes. Based on this analysis, we continue to prioritize efforts to integrate ESG considerations in the private equity investment process. KKR's approach to responsible investment in private equity is focused on value creation, which we achieve in partnership with investors, our portfolio companies, and credible third-party advisors. In recent years, we have been expanding this approach, as well as our internal expertise and the expertise of our third-party partners, beyond private equity to other asset classes, such as real estate and infrastructure, where relevant. See http://kkresg.com/responsible-investment/esg-management for more.
To date, we have engaged with non-governmental organizations, community groups, and other stakeholders interested in our private equity portfolio companies. In addition to the PRI, KKR is formally involved with Business for Social Responsibility and, in 2013, became a member of the Ceres Investor Network on Climate Risk in order to understand and continue to stay ahead of emerging best practices on environmental, social, and governance issues. In 2014, KKR became a member of the Global Impact Investor Network. In 2016, KKR's Ken Mehlman joined the Board of Directors of the Sustainability Accounting Standards Board.
Furthermore, in 2008, we entered into a partnership with the environmental advocacy non-profit, the Environmental Defense Fund. Through this first-of-its-kind partnership, known as the Green Portfolio Program (GPP), we sought cost-effective ways to measure and improve the efficiency and environmental performance of our global private equity portfolio companies, similar to the way we drive operational and financial improvement. Since its inception in 2008, 27 portfolio companies took part in the GPP. Between 2008 and 2014, 25 of the participating KKR private equity portfolio companies released results. Collectively, through their efforts in key environmental performance areas, these companies have achieved an estimated $1.2 billion in financial impact and avoided approximately 2.3 million metric tons of GHG emissions, 6.3 million tons of waste, and 27 million cubic meters of water use. In 2015, we re-launched the program as the Green Solutions Platform, which builds upon the core components of the GPP but expands the focus beyond eco-efficiency to eco-innovation and eco-solutions. The initial program results included 22 participating companies from KKR's private equity, infrastructure, real estate, and special situations funds.
The second GSP results announcement in 2016 included 28 participating companies, 10 of which are entirely new participants, and is the largest number of reporting companies in the history of KKR's environmental program. The 31 case studies highlight projects across four asset classes, including private equity, special situations, real estate, and infrastructure, as well as span a range of geographies and focus areas.
As part of our focus on accelerating and motivating innovation through our GSP, in 2016 we developed our Eco-Innovation Award. The award is intended to encourage and reward KKR portfolio companies for innovative, environmentally beneficial projects or initiatives that create business value. The winner of the 2016 award was Qingdao Haier, which won for its innovative air conditioning technology that reduces energy use and associated emissions. More information is available at www.green.kkr.com/award.
Our proactive approach to ESG, regulatory and stakeholder management is critical both to differentiate ourselves as a trusted and thoughtful partner when we pursue investment opportunities and also to create value once we own a portfolio company. To communicate this value, we have published an annual ESG report since our 2010 report, published in 2011. Our most recent report is available at www.kkresg.com.