Xylem Scales Sustainability Impacts with New Water Stewardship Commitments

Rhea-AI Summary

Xylem (NYSE: XYL) has announced new 2030 water stewardship goals following its merger with Evoqua. These goals include reducing global water demand by 2 billion cubic meters, cutting the company’s own water intensity by 30%, and increasing supply chain water intensity visibility. The 2023 Sustainability Report highlights their progress since 2019, including treating over 13 billion cubic meters of water and preventing over 8 billion cubic meters of polluted water from flooding communities. In 2023, Xylem reported significant operational improvements, with 19 of 22 major facilities using 100% renewable energy and achieving water recycling and zero waste to landfills. Additionally, Xylem provided clean water and sanitation to 3.8 million people in under-resourced communities and aims to reach 80 million more by 2030.

Positive

• New 2030 goals to reduce global water demand by 2 billion cubic meters.
• Aims to reduce company’s own water intensity by 30%.
• Treated over 13 billion cubic meters of water since 2019.
• Prevented over 8 billion cubic meters of polluted water from flooding communities.
• 19 out of 22 facilities operating on 100% renewable energy.
• 17 facilities achieved 100% process water recycling and zero waste to landfills.
• Provided clean water and sanitation solutions to 3.8 million people in 2023.
• Plans to reach an additional 80 million people with clean water by 2030.

Negative

• No specific financial data or revenue figures provided in the PR.
• The commitment targets are ambitious and may present implementation challenges.

Latest Sustainability Report Details Progress Towards Water Security and New 2030 Commitments to Reduce Global Water Demand

WASHINGTON--(BUSINESS WIRE)-- Global water technology leader Xylem (NYSE: XYL) is expanding its sustainability commitments with new 2030 water stewardship goals, following the company’s combination with Evoqua. Xylem’s 2030 goals include enabling its customers to reduce global water demand by at least 2 billion cubic meters, reducing the company’s own water intensity by 30%, and gaining visibility into the water intensity of its supply chain through water stewardship reporting and practices.

The commitments are captured in Xylem’s 2023 Sustainability Report, which also details the company’s progress to advance water security.

Since 2019, Xylem technology has enabled water managers around the world to treat over 13 billion cubic meters of water for reuse – equivalent to the domestic water needs of 197 million people annually. The company’s solutions have also enabled its customers to prevent more than 8 billion cubic meters of polluted water from flooding communities. Both customer impact milestones were achieved two years ahead of schedule.

In 2023, Xylem also achieved notable progress in reducing its operational impacts, saving water, time, energy and resources. Of 22 major facilities, 19 are operating on 100% renewable energy, 17 have achieved 100% process water recycling, and 17 are contributing zero waste to landfills. Half of Xylem’s 22 major facilities have achieved all three goals, with seven facilities across the Philippines, Mexico, Sweden, Germany, and the United States reaching the company’s key operational goals in 2023.

“2023 was a transformative year for Xylem,” said Matthew Pine, President and Chief Executive Officer at Xylem. “We continue to grow and scale our impact through solutions and services that enable a more resilient and sustainable future for our customers and communities. We are focused on building on this momentum and using every avenue to decarbonize the water sector, accelerate water stewardship, and advance water and sanitation access for all.”

The United Nations’ Sustainable Development Goal (SDG) 6 – ensuring access to water and sanitation for all – is central to Xylem’s work. In 2023, the company provided clean water and sanitation solutions to 3.8 million people living in under-resourced and water-insecure communities. Following its combination with Evoqua, the company is scaling its WASH efforts by committing to reach an additional 80 million people from 2025 through 2030.

“Xylem’s work is about empowering water utilities, companies, and communities to build a more water-secure world,” said Claudia Toussaint, Chief People and Sustainability Officer at Xylem. “We have an enormous opportunity to tap into our talented and diverse teams to achieve even greater impact. To deliver on that ambition and respond to our customers’ needs at even greater pace, we continue to strengthen our culture of innovation, leadership and accountability across the organization.”

About Xylem

Xylem (XYL) is a leading global water technology company committed to solving the world’s critical water challenges with innovation and expertise. Our 23,000 diverse employees delivered combined pro forma revenue of $8.1 billion in 2023. We are creating a more sustainable world by enabling our customers to optimize water and resource management and helping communities in more than 150 countries become water-secure. Join us at www.xylem.com and Let’s Solve Water.

Forward-looking statements

The statements included in this press release regarding future performance and results, expectations, plans, strategies, priorities, commitments, and other statements, including those related to our social, environmental, and other Sustainability Goals, that are not historical facts are forward looking statements within the meaning of the U.S. federal securities laws. Forward-looking and other statements in this press release regarding our environmental and other sustainability plans and goals are not an indication that these statements are necessarily material to investors, to our business, operating results, financial condition, outlook or strategy, to our impacts on sustainability matters or other parties, or are required to be disclosed in our filings with the Securities and Exchange Commission (“SEC”) or other regulatory authorities. In addition, historical, current, and forward-looking social, environmental, and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Forward-looking statements are based upon current beliefs, expectations, and assumptions and are subject to significant risks, uncertainties, and changes in circumstances that could cause actual results to differ materially from the forward-looking statements.

A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in “Item 1A. Risk Factors” in our Annual Report. Readers of this press release are cautioned not to rely on these forward-looking statements since there can be no assurance that these forward-looking statements will prove to be accurate. We expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240603965177/en/

Houston Spencer

+1 (914) 323-5723

Houston.Spencer@xylem.com

Source: Xylem Inc.

FAQ

What are Xylem's new 2030 water stewardship goals?

Xylem aims to reduce global water demand by 2 billion cubic meters, cut its own water intensity by 30%, and increase visibility into the water intensity of its supply chain.

How much water has Xylem treated since 2019?

Since 2019, Xylem has treated over 13 billion cubic meters of water for reuse.

What operational achievements did Xylem report in 2023?

In 2023, Xylem reported that 19 out of 22 major facilities are operating on 100% renewable energy, 17 have achieved 100% process water recycling, and 17 contribute zero waste to landfills.

How many people did Xylem provide clean water and sanitation to in 2023?

Xylem provided clean water and sanitation solutions to 3.8 million people in under-resourced communities in 2023.

What are Xylem's goals for providing clean water by 2030?

Following their merger with Evoqua, Xylem aims to reach an additional 80 million people with clean water and sanitation solutions from 2025 through 2030.