Water resources are vital to life on Earth. However, the availability of water is under ever greater threat from climate change, pollution and unsustainable levels of use.
Against that background, World Water Day 2024 reminds us of the importance of urgent action to protect this essential resource and ensure that it is available for present and future generations. Banco Sabadell, conscious of that responsibility, is intensifying its efforts to encourage the sustainable management of water, both in its own operations and in supporting its clients and the community at large.
World Water Day is a global initiative that started in 1992, supported by the United Nations, which underlines the importance of everybody (individuals, business, and institutions) working together around this essential resource so as to make further progress. Water has a cascade effect on the challenges facing the world, from climate change to political instability. That is why responsible management of water is essential if we want to achieve a sustainable future where there are sufficient resources to supply the population and to allow organisations to function.
#DíaMundialDelAgua is on 22 March every year. It aims to make people aware of the steps that they can take to address the water and sanitation crisis. It’s an opportunity to reflect on the importance of fresh water and the need to manage this resource in a sustainable way. Only 0.5% of the Earth’s water is fresh water that is available for us to use, and climate change endangers that supply. Water scarcity is becoming endemic as a result of the local impact of water stress and increased contamination of fresh water, as acknowledged by the UN in its publication The United Nations World Water Development Report 2023: partnerships and cooperation for water. That is why when water becomes scarce or is polluted, or when people do not have any or fair access to water, tensions between countries and communities may grow.
However, cooperation over water can build underlying resilience to extreme weather events and help populations to adapt to a changing climate and mitigate the impact of those changes. Public health and prosperity, food and energy systems, economic activity and environmental integrity also all depend on the correct working and just management of the water cycle. In fact, the benefits of investing in water and sanitation exceed the costs because that investment can improve health, productivity, the environment and human rights.
Financial institutions, investors, regulators, and legislators are all facilitators of the transition to a sustainable economy in which the climate transition and protection of biodiversity, which includes sustainable water management and caring for the oceans, have important roles.
What are we doing?
Banco Sabadell’s commitment to sustainable water management goes beyond its own operations. The Bank works actively with other organisations and bodies to promote research, and the development and implementation of sustainability solutions relating to water.
Financial institutions are driving change by mobilising resources with investment and finance, to encourage new technology, taking full account of risks and advising business about the challenges of the transition to a sustainable economy.
Aware of that challenge, Banco Sabadell has (as previously announced) incorporated as a central pillar of its corporate strategy for the next few years a series of measures under its ESG framework Sabadell Sustainable Commitment, which you can read here.
Some of the actions taken in relation to water resources under that strategic plan are:
1) Becoming a more sustainable organisation:
- A reduction in water consumption in Spain of 10% during 2023 relative to 2022 and of 39% relative to 2019, our baseline year.
- Measures to consume less water and improve water quality, such as fitting UV emitters to taps and double-flush systems in toilets, using rainwater for irrigation, optimising irrigation systems in gardens and planting indigenous species have helped us to reach this milestone.
2) Supporting businesses and private individuals with advice and finance
In businesses
- With sustainable finance to support projects and activities that contemplate the sustainable use and protection of water and marine resources, such as improving and refurbishing supply networks, wastewater treatment, water saving through producing technology and apps to support water saving, new facilities, drainage networks, etc. Another example is the operation of EQUIPRENTING for the acquisition of wastewater treatment and purification equipment, which has been recognised by the Spanish Finance Leasing and Renting Association (AELR). Further information here.
- With advice to clients so that they can incorporate sustainability in their governance and processes and identify international brands with which to commit and set goals. The benefits of sustainable water management for business include reduction of operational and supply chain risks, improved corporate reputation, supporting ecosystems generated by water resources and accelerating progress towards SDG 6: Clean water and sanitation under the UN’s Agenda 2030.
- Sharing knowledge through our Companies Hub with online sessions for businesses about practical issues such as the Nuevo PERTE de digitalización del ciclo del agua with its focus in learning about the grants available for the digitalisation of groups of users of water for irrigation.
For private individuals
- With financing solutions that include water treatment and products and services for the acquisition and refurbishment of homes, sustainable mobility and the installation of renewable energy systems.
3) Offering sustainable investment opportunities
- With initiatives such as BStartup Green, a programme specifically for investment in start-ups that can ease, through technology or digitalisation, the transition towards a more sustainable world using the following approaches. Those approaches include Smart Cities with aspects that include water management, pollution control, protection of seas and rivers, waste management.
4) Working together for a sustainable, cohesive society
- Learning through science and encouraging experts to share their knowledge and the development of shared understandings and solutions. That applies to #PremioSostenibilidadMarina awarded by the Fundación Banco Sabadell, whose goal is to incentivise and recognise the work of Spanish scientists in the field of marine sustainability. The most recent winner was Dr Elena Ojea for her work in the adaptation and transformation of marine social-ecological systems and the assessment of vulnerability to and risks arising from climate change.
Those are just some of the initiatives that we have under way to contribute to the extent open to us to the collective effort of such importance to protect and conserve the planet’s water resources and to meet the needs of a growing population in a just and sustainable way.
The protection and conservation of water resources is a global challenge that requires all parts of society to work together.
Banco Sabadell, through its commitment to sustainability, is contributing to building a future in which water is an accessible resource, managed in a responsible way and appreciated by all.
