Barclays & The Columbia Water Center Launch New Study, Reveal How Energy Companies & Public Utilities Can Help Protect & Impr...
March 22 2017 - 8:00AM
Business Wire
Second report in Impact Series explores how oil
and gas operators, the utility industry and governments can work
together to improve transparency around water usage, invest in
innovative technologies, and improve data collection
In recognition of UN World Water Day, Barclays Bank PLC
(“Barclays”) and the Columbia Water Center today released the
second report of the Impact Series from the Barclays Social
Innovation Facility. Titled The water challenge: preserving a
global resource, the report explores the extent of the water
challenge and how oil and gas operators, the utility industry and
governments –all large consumers and users of water – can take
advantage of opportunities to become more efficient and sustainable
in its water management.
This report shows that robust water management, combined with
innovative technologies and forward-looking practices, will not
only be good for the environment and society, but can also benefit
companies’ bottom lines.
Acknowledging this year’s World Water Day theme of “Wastewater,”
the report also examines how companies can apply best practices and
new technologies to reuse or recycle the wastewater they create in
the course of their business. In fact, the research shows that
companies that implement sustainable water practices, such as
reusing water and building efficient infrastructure, will lessen
the contribution to freshwater scarcity and quality issues.
“Water scarcity is an enormous and undeniable challenge for both
society and the environment, but also presents an opportunity for
sustainable investment,” said Zachary Sadow, energy equity research
analyst at Barclays. “The water challenge report demonstrates the
crucial need for investment in water-related technologies and
infrastructure that enable oil and gas operators, the utility
industry and governments to treat wastewater effectively as a
resource. Ultimately, the companies that can reduce freshwater
usage and costs will be best positioned for an uncertain water
future.”
“Because the water, energy and utility industries are so deeply
interconnected, improved water management is crucial to companies’
supply chains and futures,” said Upmanu Lall, Director of the
Columbia Water Center. “By examining industry growth and analyzing
data on water consumption by industry, research in The water
challenge identifies sustainable and efficient solutions that
protect our resources by reducing both energy and water usage.”
Key findings of the report include:
- The oil and gas industry can
substantially increase water reuse. By mirroring the success of
countries such as Canada, where regulations mandate water reuse and
limit fresh water acquisition for oil sands operations, the U.S.
may be able to follow suit.
- U.S. government research and
development (R&D) for new technologies and funding of crucial
accounting agencies represent critical public sector functions to
complement private sector investment and initiatives. Because
larger companies have R&D budgets for water technologies,
smaller companies should receive support from government agencies
to engage in progressive water practices. Additionally, enforcing
and standardizing water reporting across industries will help
improve water management.
- Policy and economics will be the
biggest drivers of innovation for power and water utilities. In
an uncertain regulatory future, utilities that incorporate water
risk planning into their strategic planning and engage in
integrated water resources management will be better prepared for
unforeseen water supply shocks.
- The infrastructure crisis in the
water utility industry needs immediate attention. There is
significant opportunity for public-private partnerships and capital
investment in the water utilities industry, and collective action
is needed to improve transparency and encourage investment in
innovative technologies.
- Evidence shows that energy companies
can be encouraged to put effort into R&D for technologies that
benefit all. There is a variety of technologies that can
transform alternative sources of water into industrial use,
including desalination, recycling effluent water, indirect and
direct potable reuse, advanced metering infrastructure, lead
detecting technologies and dry cooling.
About Barclays’ Social Innovation Facility
The Barclays Social Innovation Facility is a catalyst for the
development of innovative products and services that deliver both
an ongoing commercial return and a sustained social impact. It was
launched in 2012 and is a key part of the firm’s Shared Growth
Ambition. The Impact Series is designed to explore the
social impact of economic, demographic and disruptive changes
affecting markets, sectors and society at large.
For more information or to view the full report and executive
summary infographic, please click here.
About Barclays
Barclays is a transatlantic consumer, corporate and investment
bank offering products and services across personal, corporate and
investment banking, credit cards and wealth management, with a
strong presence in our two home markets of the UK and the US. With
over 325 years of history and expertise in banking, Barclays
operates in over 40 countries and employs approximately 130,000
people. Barclays moves, lends, invests and protects money for
customers and clients worldwide. For further information about
Barclays, please visit our website home.barclays
About Columbia Water Center
The Columbia Water Center’s mission is to creatively tackle
water challenges of a rapidly changing world where water and
climate interact with food, energy, ecosystems and urbanization.
Combining the rigor of scientific research with the impact of
effective policy, we aim to design reliable, sustainable models of
water management and development that can be implemented on local,
regional and global levels. The Columbia Water Center, in
collaboration with other Earth Institute units and external
partners, is leading intellectual inquiry into the assessment,
understanding and resolution of the global crisis of freshwater
scarcity. For further information, please visit
http://water.columbia.edu/
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170322005651/en/
BarclaysBrittany Berliner, +1
212-526-4894brittany.berliner@barclays.com
Barclays (NYSE:BCS)
Historical Stock Chart
From Apr 2024 to May 2024
Barclays (NYSE:BCS)
Historical Stock Chart
From May 2023 to May 2024