Advanced Drainage Systems Survey: Over Half of Americans Worried About How Their Stormwater is Managed

Rhea-AI Summary

Devastating Weather Events Cause Concern for Global Insurance Group (GIG) - Ticker Symbol: GIG

Devastating weather events drive concerns about infrastructure, sustainability and climate change

HILLIARD, Ohio--(BUSINESS WIRE)-- Advanced Drainage Systems, Inc. (NYSE: WMS) (“ADS” or the “Company”), a leading provider of innovative water management solutions in the stormwater and onsite septic wastewater industries, today announced the results of a study on stormwater management. According to the ADS survey conducted online by The Harris Poll in November 2023 among over 2,000 U.S. adults 18+, more than half of Americans (51%) are concerned about the current infrastructure in place to manage stormwater within their communities.

“With the ever-increasing frequency of large-scale stormwater-related natural disasters, having a proper infrastructure in place to capture, convey, store and treat water has never been more important,” said ADS President and CEO Scott Barbour. “At ADS we focus on managing the entire life cycle of a raindrop, from the time it falls from the sky and hits the ground, to the time it is filtered, treated and returned to lakes and streams. This approach delivers the health and safety necessary to keep communities thriving.”

In addition to infrastructure concerns, survey findings also revealed

• There is confusion among U.S. adults about how water is managed. More than half of Americans (53%) do not know where water goes after it leaves their home, which would include how it is stored and treated before being returned to back into the environment.

• When it comes to water, environmental impact is top of mind for most Americans. Fifty-eight percent of U.S. adults are concerned how stormwater is managed in their communities to ensure environmental stewardship and sustainability (i.e., transportation efficiency, energy usage, water reusage, etc.).

• Climate change is believed to be outpacing stormwater management practices. Forty-three percent of Americans feel the stormwater management in their area is not keeping up with climate changes, emphasizing the need for stronger and more sustainable water management practices.

ADS is actively responding by continuing to develop solutions that reduce the damage from significant stormwater events. As part of this commitment, the company began construction on the world’s most advanced stormwater engineering, research and development facility located near the company’s headquarters in Hilliard, Ohio. The ADS Engineering and Technology Center will focus on product engineering, materials science and manufacturing technologies to create new and innovative products, identify the most sustainable materials – including with recycled plastics – and further develop the manufacturing process that enables greater efficiency in producing more cutting-edge stormwater solutions.

To learn more about how ADS manages the world’s most precious resource, water, through sustainable solutions, please visit https://www.adspipe.com/our-reason-is-water.

Survey Method

This survey was conducted online within the United States by The Harris Poll on behalf of Advanced Drainage Systems from November 14-16, 2023, among 2,061 adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.7 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Heather Schreiber 614-216-3757.

About Advanced Drainage Systems

Advanced Drainage Systems is a leading manufacturer of innovative stormwater and onsite septic wastewater solutions that manages the world’s most precious resource: water. ADS and its subsidiary, Infiltrator Water Technologies, provide superior stormwater drainage and onsite septic wastewater products used in a wide variety of markets and applications including commercial, residential, infrastructure and agriculture, while delivering unparalleled customer service. ADS manages the industry’s largest company-owned fleet, an expansive sales team, and a vast manufacturing network of approximately 70 manufacturing plants and 40 distribution centers. The company is one of the largest plastic recycling companies in North America, ensuring over half a billion pounds of plastic is kept out of landfills every year. Founded in 1966, ADS’ water management solutions are designed to last for decades. To learn more, visit the company’s website at www.adspipe.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231214782478/en/

Investor Contact:

Michael Higgins

VP, Corporate Strategy & Investor Relations

Advanced Drainage Systems, Inc.

Phone: (614)-658-0050

Michael.Higgins@adspipe.com

Media Contact:

Brian King

EVP Product Management and Marketing

Advanced Drainage Systems, Inc.

Phone: 614-404-8065

Brian.King@adspipe.com

Source: Advanced Drainage Systems, Inc.

FAQ

How are devastating weather events impacting Global Insurance Group (GIG)?

Devastating weather events are causing concerns for GIG due to potential increase in insurance claims and payouts.

What is the ticker symbol for Global Insurance Group?

The ticker symbol for Global Insurance Group is GIG.

How is GIG affected by natural disasters?

GIG is impacted by natural disasters through potential financial losses from increased insurance claims.

What are the implications of weather events on GIG stock?

Weather events can affect GIG stock performance due to potential negative impact on financial results and shareholder confidence.

How does GIG manage risks from weather-related losses?

GIG may manage risks from weather-related losses through reinsurance and risk management strategies.

What steps is GIG taking to address concerns from weather events?

GIG may be taking steps to address concerns by assessing and managing potential risks, and communicating with shareholders and stakeholders.

How can investors protect their investment in GIG during weather-related concerns?

Investors can protect their investment in GIG by staying informed about the company's risk management strategies and financial resilience.

What are the long-term implications of weather events on GIG's business?

The long-term implications of weather events on GIG's business may include changes in insurance pricing, underwriting strategies, and financial performance.