1. Latest News
  2. Submit Press Release

IFC, Tata Group Partner to Drive Water Efficiency in Indian Industry

International Finance Corporation (IFC), a member of the World Bank Group, is partnering with Tata Quality Management Services to develop strategies to improve water efficiency & promote sustainable water use at 11 Tata plants across India.

 
PRLog - Nov. 7, 2012 - IFC, Tata Group Partner to Drive Water Efficiency in Indian Industry

Mumbai, India, November 7, 2012—
IFC, a member of the World Bank Group, is partnering with Tata Quality Management Services to develop strategies to improve water efficiency and promote sustainable water use at 11 Tata plants across India, setting a paradigm of water conservation for industry in the country.

Based on Water Footprint Network’s globally acknowledged water footprint methodology, Tata Quality Management Services is using IFC’s expertise in developing a water sustainability framework for Group companies Tata Steel, Tata Power, Tata Motors, and Tata Chemicals. Staff members across the chosen facilities have been trained in water footprint assessment and strategies to play the role of water “champions”.

“By collaborating with IFC, we have accelerated the uptake of water sustainability measures within and outside our industrial operations,” said Prasad Menon, Chairman, Tata Quality Management Services. “This augmented internal capacity will help us replicate the framework across the other Tata group of companies.”

Indian industry is facing business disruption risk due to competition over scarce resources and degradation of water quality. Water Resources Group forecasts that India will experience a water shortfall of almost 50 percent by 2030. Therefore, there is a pressing need for industry to use scarce water resources judiciously.

“This initiative is calibrating water usage at the facilities, introducing best practices in water efficiency, and facilitating investments in water conservation technologies and solutions for all the stakeholders,” said Jeeva A. Perumalpillai-Essex, IFC Manager for Sustainable Business Advisory in South Asia. “Our partnership with the Tata Group will push faster adoption of international best practices in water efficiency in India.”

Water scarcity is expected to grow significantly in coming decades. IFC plays a leading role in identifying and implementing solutions to meet the challenge, both through its work with client companies and through multi-stakeholder forums. IFC is an initiating sponsor of the 2030 Water Resources Group and a founding partner of the Water Footprint Network

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges.

About Tata Group

The Tata Group comprises over 100 operating companies in seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals. The group has operations in more than 80 countries across six continents, and its companies export products and services to 85 countries. The total revenue of Tata companies, taken together, was $100.09 billion in 2011-12, with 58 percent of this coming from business outside India. Tata companies employ over 450,000 people worldwide. The Tata name has been respected in India for more than 140 years for its adherence to strong values and business ethics.

--- End ---

Click to Share

Contact Email:
***@the-practice.net
Source:International Finance Corporation
Location:India
Industry:Finance, Business
Tags:ifc, tata, water, Finance, Business
Shortcut:prlog.org/12017809
Verified Account Email Address
Verified Account Phone Number

Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “

More...

Trending News...



Like PRLog?
9K2K1K
Click to Share