Date: TUE, SEP 20 2022
Media: ESGtoday
What happened?
Amazon and global non-profit organization Water.org announced that they will provide water to 100 million people in some parts of the world.
Amazon donated 10 million to this organization to provide water to 1 million people in 2025.
Whom and where it affects?
It affects to people without water services in Africa, Asia and Latin America: this project will help directly support 1 million people having access to safe water by 2025, reaching the most vulnerable communities around the world with safe water and sanitation.
What sort of public or private institutions are involved?
This initiative is a great private investment project which involves the partnership of two institutions: Amazon and Water.org.
We all know Amazon which is the world’s largest online retailer and prominent cloud service provider. Water.org is instead a global non profit organization which was founded by Matt Damon and Gary White and it is focused on pioneering market- driven financial solutions to the global water crisis.
Why is it important for Banking and Finance?
In general sustainable finance is important because investments on this topic generate positive value for society and operate within environmental contrast.
In particular, the article talks about water, which is an important topic concerning the environmental crisis. The goal of sustainable finance is not only to capture financial returns for clients but also to realize returns for the society.
What do you think will be the consequences in the foreseeable future?
These types of investments aren’t enough to contrast the environmental crisis, especially in water. I think that the developed areas like Europe or USA where water isn’t a problem compared to other poor areas, have to introduce limitations on the water consumption, especially in the factories.
At least I think that there should exist an obligation for multinational companies that have to invest a part of their capital in sustainable finance to contrast the emission they produce because of production, logistics and other factories.
SDG: Clean water and sanitation, 6
Keywords: Amazon, water, investment, environment, sustanible.