The company stated in its release on Wednesday that it has achieved Alliance for Water Stewardship (AWS) certification at its two manufacturing facilities in California.
The company which is a leader in water, hygiene and energy technologies got the AWS standard, a global standard for responsible water management, for its plants in Carson and City of Industry.
AWS, a global membership unites organizations behind its mission of being a global network that promotes responsible use of freshwater that is socially and economically beneficial and also environmentally sustainable.
“To be a responsible business, we believe you need to seek growth while minimizing your impact on the environment,” Emilio Tenuta, Ecolab vice president of corporate sustainability said in a press release. “Every day, we are committed to growing our business while advancing sound principles of water stewardship, both within our operations and through our ongoing work at customer sites throughout the world.”
Ecolabs is a founding partner of AWS while the AWS standard itself is a framework designed to promote sustainable freshwater use.
According to AWS, many retailers, consumers, NGO’s and civil society organizations are interested in knowing how major water users are being responsible with their water.Getting the AWS standard is a confirmation of an organization’s compliance for its commitment to responsible stewardship.
In a research done by the Public Policy Institute of California that was published in November 2017, it was revealed that the 2012-2016 drought in California pushed many native species to the brink of extinction while also causing unprecedented stress to the ecosystems. The Public Policy Institute of California concluded that management of water is challenging during droughts but it is needed and they proposed three reforms which included water accounting and need to establish ecosystem water budgets.
“We strategically evaluated our manufacturing footprint and are implementing the AWS Standard at sites with high water scarcity, quality or regulatory risks,” Alex Blanco, Ecolab executive vice president said in the release. “Achieving certification at our two manufacturing facilities in water-stressed California was a priority.”
According to Ecolab, the facilities in Carson and City of Industry produce chemistries to help ensure clean water, safe food and healthy environments and abundant energy while also providing sustainable outcomes for companies in a wide range of industries.
It was also revealed in early May that freshwater distribution has had a major shift with the dry areas getting drier and drier. The drought in California further was compounded by groundwater withdrawal, although the blame was put on agriculture and need to support the farms.
“Ecolab continues to be an industry leader in water stewardship. AWS certification at these two sites demonstrates that companies create competitive advantages through superior water stewardship performance,” said Matt Howard, North American director for AWS. “We cannot take our freshwater resources for granted. That’s why AWS, its members and partners encourage North American companies to embrace the International Water Stewardship Standard.”
Ecolab says that it is a trusted partner at nearly three million customer locations and has an annual sales of US$14 billion.
Following the announcement, Ecolab closed Wednesday’s trading period at $145.63 and was down 0.60 percent over the one day trading period. The stock has a moderate buy ranking on TipRanks with an analyst target price of $157.29.
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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.