Funding will be directed to Start-up Companies commercializing innovative approaches to Water management, among others
Seventeen organizations have joined forces to support the United Nations (UN) Water Action Agenda, pledging to invest $11 billion in water innovation over the next five years. The collaboration is part of the Water Action Agenda focused on accelerating progress on the UN Sustainable Development Goal 6 targeting Water and Sanitation.
Water technology company Xylem and the Kingdom of the Netherlands hosted the event, titled “Private Sector Investment Commitment to Water Innovation” that brought together technology innovators, investors, government, civil society, and development agencies with the goal of using innovation to advance the UN Sustainable Development Goals. The event was part of the UN 2023 Water Conference which calls for pledges and actions from all sectors, industries, and interests to achieve the UN Sustainable Development Goals.
“For those who can simply turn on a tap, water may not seem like a problem,” said Patrick Decker, CEO of Xylem. “But the UN 2023 Water Conference is a timely reminder that water challenges are intensifying around the world…Many of the essential technologies already exist, but as climate change progresses, we need more innovative solutions and accelerated implementation to increase the resilience and water-security of communities everywhere.”
The funds will be used for water-related research and development, start-up companies commercializing innovative approaches to water management, and the deployment of new water technologies.
Organizations contributing to the pledge include Acciona, Autodesk, BlueTech, Burnt Island Ventures, The Coca-Cola Foundation, Evoqua, Grundfos, Hansgrohe, Hydraloop, Idexx, UGSI Solutions, Veolia, Water Foundry Ventures, Wavin, Westly Group, XPV and Xylem.
The conference serves to bring together stakeholders from across governments, the private sector, non-governmental organizations, nonprofits, academic institutions, and the scientific community to advance innovation to solve global water challenges.
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