Amsterdam, 4 November 2024 – World Waternet is pleased to announce a strategic partnership with Water Footprint Implementation (WFI) to develop the Water Footprint Compensation Initiative, a program designed to replenish and restore freshwater resources in areas significantly impacted by water use.
Advancing Sustainable Water Management
The initiative aims to mobilize private capital for water restoration projects, advancing sustainable water management at scale. “We are proud to partner with WFI on this innovative initiative,” said Frank Tibben, CIO of World Waternet. “By connecting companies to water restoration projects, we’re creating a powerful mechanism to restore our freshwater systems and ensure sustainable water management.”
Water Footprint Compensation Overview
“World Waternet has been part of the pioneering group from the beginning, and it’s an honor to partner with them on this initiative. Their local project expertise is invaluable for achieving impactful, targeted outcomes,” shared Jaap Feil, Managing Partner of WFI. “We believe this partnership will inspire more NGOs to join the coalition, expanding the reach of water footprint compensation. This collaboration also provides companies with opportunities to engage in meaningful, locally focused compensation projects.”
The Water Footprint Compensation Initiative enables companies to offset the negative effects of their water consumption by funding water replenishment and restoration activities. These efforts are concentrated on the basins where their operations and supply chains are based, ensuring that water restoration happens where it is most needed. The partnership will accelerate the initiative’s development, aiming for a formal launch at the 3rd United Nations Water Conference in 2026.
Key Elements of the Partnership
World Waternet and WFI will identify 5 to 10 potential compensation projects for inclusion in the Water Footprint Compensation platform by the 3rd UN Water Conference. These projects align with World Waternet’s Collective Water Action Agenda as outlined in the new Impact Plan 2030.
