Ecolab-GreenBiz Survey Finds Corporations Still Struggle to Translate Water Goals into Action on the Ground
March 21 2019 - 8:30AM
Business Wire
There is a growing sense of urgency about water scarcity as a
business risk, but almost half of all companies don’t have a plan
to achieve their water reduction targets. That is the key finding
of a new survey conducted by Ecolab Inc., the global leader in
water, hygiene and energy technologies and services, and the
sustainability news and research organization GreenBiz.
Companies are under pressure to reduce their water usage because
of mounting water scarcity. According to U.N. projections, the
world will face a 40 percent freshwater shortfall by 2030 if
nothing changes. This is a growing issue for corporate water users,
who consume more than 40 percent of all water used in
industrialized economies and an increasing share in developing
nations.
“Saving water is the smart play for the future,” said Emilio
Tenuta, Ecolab vice president of Corporate Sustainability.
“Companies can reduce costs and save energy, and become more
resilient to water scarcity and climate change.”
The Ecolab-GreenBiz survey underscores the need for companies to
rethink their water management. Key findings from the survey, which
was conducted in February and March 2019 with responses from 86
companies with revenues of at least $1 billion, include:
- 74 percent of the companies surveyed
say water is an increasing priority
- 59 percent agreed that it is also a
growing business risk
- 88 percent said they would take active
steps to manage water use in the next three years
But despite that sense of urgency, 44 percent of the companies
surveyed said they have no plan in place to achieve their water
goals. And only 56 percent report using smart technology to monitor
their water use and savings.
“It’s good to see that companies are increasingly focusing their
attention on water,” said Paul Carp, head of research at GreenBiz.
“However, it would be even more encouraging to see greater action,
including the development of plans and execution of sustainable
water management practices at scale, to make a difference for the
planet.”
The outcomes from the 2019 survey are in line with findings from
2017, the first year the Ecolab-GreenBiz survey was conducted, when
75 percent of companies said they had corporate water reduction
goals, but 82 percent reported they lacked the tools and expertise
to achieve them.
This persistent discrepancy is explained by a disconnect between
the corporate level, where the goals are set, and the on-the-ground
facility level, where the actual savings must be achieved.
Seventy-five percent of companies said that water reduction targets
are set by corporate sustainability teams, but only 64 percent feel
that they are appropriately engaging their facility teams, down 5
percent from 2017.
To bridge the gap between corporate goals and real results,
operational managers need to be fully engaged.
Earlier this month, Ecolab launched the Ecolab Smart Water
Navigator, a free online tool that was designed to do precisely
that. Based on a 13-question survey, it enables companies to
prioritize their most vulnerable locations, where water savings can
make the biggest difference, and recommends the tailored tools,
resources and technologies their local teams need to achieve their
water savings targets.
Ecolab is a leading provider of solutions to help companies of
all sizes better manage their water use. The company provides
technologies, chemistries and services to a wide range of
industries to solve process water, cooling and boiler water, and
wastewater treatment challenges, while improving operating
efficiencies and reducing water and energy use.
In addition to the Smart Water Navigator, Ecolab offers the
Water Risk Monetizer, a publicly available online tool that helps
companies determine the true value of water to their operation –
beyond what’s on their monthly utility bill – and puts a dollar
figure on water risk.
About EcolabA trusted partner at nearly three
million customer locations, Ecolab (ECL) is the global leader in
water, hygiene and energy technologies and services that protect
people and vital resources. With annual sales of $15 billion and
49,000 associates, Ecolab delivers comprehensive solutions and
on-site service to promote safe food, maintain clean environments,
optimize water and energy use, and improve operational efficiencies
for customers in the food, healthcare, energy, hospitality and
industrial markets in more than 170 countries around the world.
www.ecolab.com
Follow us on Twitter @ecolab, Facebook at facebook.com/ecolab,
LinkedIn at Ecolab or Instagram at Ecolab Inc.
About GreenBiz GroupGreenBiz Group’s mission is to define
and accelerate the business of sustainability. It does this through
a wide range of products and services, including its acclaimed
website GreenBiz.com and e-newsletters, GreenBuzz and VERGE;
webcasts on topics of importance to sustainability and energy
executives; research reports, including the annual State of Green
Business; the GreenBiz Executive Network, a membership-based,
peer-to-peer learning forum for sustainability executives; and
conferences: the annual GreenBiz forum and VERGE.
www.greenbiz.com
(ECL-C)
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190321005104/en/
Mesa Denny651-250-4724MediaRelations@Ecolab.com
Ecolab (NYSE:ECL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Ecolab (NYSE:ECL)
Historical Stock Chart
From Sep 2023 to Sep 2024