In first-of-a-kind summit, White House rallies corporate investment in water supplies
The White House on Tuesday unveiled several billion dollars’ worth of corporate commitments to water research and development during a high-level summit.
Pegged to World Water Day, the summit was intended to draw attention to specific state and corporate pledges as well as new Obama administration initiatives prompted in part by Western states’ drought and the Flint, Michigan, drinking water scandal.
The corporate promises include a commitment by GE to invest $500 million over the next decade on water and reuse technologies, and a pledge by San Francisco-based Ultra Capital to invest $1.5 billion in decentralized “water management solutions.”
“It’s an investment opportunity that has the potential for great returns,” enthused Ali Zaidi, associate director for natural resources at the White House’s Office of Management and Budget.