Investing in innovative water efficiency solutions unlocks sustainable growth
The world experiences water scarcity challenges that impacts communities, farming, and industries alike, requiring of societies now to think innovatively and behave differently.
As climate change spirals extreme weather, drought and floods, authorities regulations for water protection and management will become stricter, transcend national boundaries, and affect businesses globally. As for example the EU Water Framework Directive already regulates how member states must protect and restore clean water in the EU.
Industries are heavy water users and therefore play an essential role in moving from linear to circular resource-efficient water flows, in ensuring a responsible and efficient use of water resources.
By thinking innovatively and optimizing their water usage industries will not only contribute to a more resilient world (which of course is number one) and ensure regulatory compliance. But also become more water-scarcity-resilient and financially protected during water crises, act in coherence with community and citizen’s needs, gain trust and respect, and unlock a sustainable growth.
Consequently, there are several of good business reasons for industries to invest in innovative water efficiency solutions:
Economic viability – industries optimizing their water usage largely reduce operational costs associated with water procurement, treatment, and disposal. New technologies and practices often lead to substantial savings in water-related expenses, contributing to long-term economic viability, and positive financial results.
Regulatory compliance – as water scarcity challenges increase, authorities around the world will be forced to sharpen the regulations for water usage, quality, and discharge. By proactively investing in water efficiency management, industries can stay ahead in compliance, avoiding fines or restrictions.
Water scarcity resilience – investing in water efficiency solutions makes industries more resilient to water scarcity, increases reliability of water sources for operations, and establishes an even water supply. Also during water crises periods. Crucial to reduced vulnerability, continuity, and business competitiveness.
Innovation culture – water efficiency measures often involve new technologies and practices that can foster an innovative culture, and spark further innovations in the process, with applications in other areas, beyond water management. Providing new competitive edge in the market.
Enhanced CSR – businesses today are expected to commit to sustainable practices. Besides reducing the environmental impact investing in responsible water management enhances a business CSR-efforts. Possibly strengthening the brand reputation, contributing to a positive public image, and attracting climate conscious customers.
Societies globally need to be able to carry out a complex green transition within a very short time frame. System-changing innovations are necessary, socially, in infrastructure, and in technology. By investing in water efficiency solutions industries can contribute largely, and unlock sustainable growth, to the benefit and joy of communities and their people.
Jonas Wamstad,
Water innovator & Co-founder of Drupps