Mahesh Ramanujam, the cofounder, President, and CEO of Global Network for Zero, is deeply concerned about the global water crisis which is having devastating effects on communities around the world. From drought conditions in the American Midwest to water shortages in India, millions of people are suffering from the lack of access to clean water. As a native of Chennai, India, Ramanujam has seen firsthand the impact of water scarcity on his community. He believes that businesses have a responsibility to address this crisis in addition to governments.
The World Bank estimates that countries will need to triple their current expenditures to provide safe water globally. Private sector investments through public-private partnerships are seen as a key solution to improving water infrastructure on a large scale. These partnerships can also accelerate the development of water-saving technologies, such as AI for water management, desalination, and rainwater harvesting. Companies like the International Finance Corporation (IFC) are playing a critical role in securing private financing for water projects in emerging markets.
One area where private companies can exceed government efforts is in water measurement and tracking. Many governments, including the U.S., struggle to monitor water usage and waste effectively. By implementing water audit solutions and emerging technologies, businesses can track their water usage throughout their operations and supply chains to prevent leaks and improve efficiency. Upgrading to energy-efficient appliances, implementing smart irrigation systems with rain detection sensors, and utilizing hot water recirculating systems are just a few examples of how businesses can improve water efficiency.
Innovation in the water sector is also a key opportunity for the private sector. Technologies such as solar panel condensation for drinking water, nanotechnology for water purification, and AI for monitoring waterway health are constantly evolving. By investing in innovative solutions and technology, businesses can play a significant role in addressing the global water crisis. Ramanujam remains cautiously optimistic that with collaboration and investment from the private sector, we can prevent a global water catastrophe. It is crucial for those who have access to abundant water resources to take action now to prevent a future without clean water.
