Xylem Inc. announces ambitious new sustainability goals
Global water technology company Xylem Inc. is one of the businesses at the forefront of the fight against climate change and ecological disaster. So it’s fitting that it’s amongst the world’s most proactive companies when it comes to actually walking the walk: the company doesn’t just sell tools and services to help the rest of us be cleaner, greener, and better with water – it runs its own business with sustainability at the core. At the end of June, the company updated its 2025 goals, and they’re ambitious by anyone’s standards.
Xylem’s share price has increased by 27% since the start of the year
Source: Yahoo Finance
In Xylem’s 2018 Sustainability Report: Creating a Water-Secure World, the company doubled down on its commitments to serve its customers with the most sustainable technology possible, to operate Xylem itself in the most sustainable way possible, and to empower communities through social impact initiatives.
Patrick Decker, the company’s president and CEO, made the following comment over the new targets:
“Sustainability is core to everything we do at Xylem. We have a unique opportunity and responsibility to advance sustainability through our commercial and humanitarian efforts to solve water for communities around the world, and through our work to raise public awareness and engagement. Water is one of the most direct and universal ways to advance sustainability, because everyone depends on it. Building upon our foundation as a sustainable and financially strong company, we will accelerate our work with water stakeholders and communities to drive innovation and change, inspire the next generation of water stewards, and create a more water-secure world.”
Xylem’s goals by 2025 include some major social and environmental targets. It wants to save more than 16.5 billion m3 of water through the use of smart water technology. It wants to eliminate water scarcity for people “at the base of the global pyramid” improving at least 20 million lives. It wants to reduce its own greenhouse gas emissions by 2.8 million tons (the equivalent of planting and growing 46 million trees for 10 years). It wants to transition to 100% renewable energy at all its major facilities. This list isn’t comprehensive, and Xylem will likely continue to redraft the goals in question, making them even more ambitious as it goes along.
Claudia Toussaint, the company’s senior vice president and general counsel, and executive sponsor for environmental, social and corporate governance, said:
“In recent years, Xylem has taken a leadership role in driving the digital transformation of water, helping utility, industrial and other users of water advance their efforts to be responsible stewards of the planet’s most essential resource. With our global reach across the water cycle, we are strongly positioned to drive change and promote water sustainability. In developing our 2025 Signature Goals, we focused on moving the needle in areas relating to the world’s most urgent water challenges. We are also redoubling our efforts to be a company that leads by example and makes a difference by creating social impact for millions of people around the globe.”
Dominion holds Xylem Inc. in its Global Trends Managed Fund.
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