Evoqua Water Technologies (NYSE: AQUA), a leader in mission-critical water treatment solutions, today announced its goals to reduce its operational footprint, furthering the company's commitment to operate sustainably and mitigate its environmental impacts. As part of this effort, Evoqua has set goals to increase recycling and reuse of water in its facilities by 2035 and reach net-zero greenhouse gas emissions by 2050.
By 2035, Evoqua's facilities will seek to recycle and reuse more water than withdrawn
To address water risks related to climate change, Evoqua has adopted a goal of reusing more water than it withdraws from source by 2035. As part of Evoqua’s path toward achieving this goal, Evoqua intends to create water management plans for its facilities to increase efficiency in their water usage and to implement additional water recycling and reuse initiatives, utilizing its own technology.
Evoqua plans to set science-based targets by 2023 that will assist Evoqua with its goal of reaching net-zero greenhouse gas emissions by 2050
Over the next two years, Evoqua plans to use the science-based target setting methodology to evaluate its scope 1, 2, and 3 emissions, which will enable the company to develop greenhouse gas emission reduction targets in line with the Paris Agreement's 1.5°C pathway. Evoqua views the development of reduction targets as an important next step on its journey towards reaching its goal of net-zero greenhouse gas emissions by 2050.
Evoqua plans to use the Science Based Targets initiative’s (SBTi) methodology to assist the company in setting its reduction targets by 2023. The SBTi provides a framework for companies to set emission reduction targets that align with leading climate science and sector-relevant impacts. Currently, more than 2,000 businesses around the world are working with the SBTi.
To incentivize Evoqua’s attainment of its sustainability goals, the company announced that it is incorporating environmental and safety metrics into its employee annual compensation program beginning this fiscal year.
"Every day, we work hard to ensure that our customers' water systems are operating sustainably, helping them to mitigate climate and water risks by delivering connected, resilient technologies that provide healthy and safe water resources," said Ron Keating, Evoqua's Chief Executive Officer. "As we continue our sustainability journey, we are committed to looking inward and taking action to further protect our communities and planet by reducing our operational footprint. Today's announcement is an important step to delivering growth responsibly and sustainably."
To learn more about Evoqua's sustainability program, visit: https://www.evoqua.com/sustainability/.
About Evoqua Water Technologies
Evoqua Water Technologies is a leading provider of mission-critical water and wastewater treatment solutions, offering a broad portfolio of products, services, and expertise to support industrial, municipal, and recreational customers who value water. Evoqua has worked to protect water, the environment, and its employees for more than 100 years, earning a reputation for quality, safety, and reliability around the world. Headquartered in Pittsburgh, Pennsylvania, the company operates in more than 160 locations across ten countries. Serving more than 38,000 customers and 200,000 installations worldwide, our employees are united by a common purpose: Transforming Water. Enriching Life.® To learn more, visit www.evoqua.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify forward-looking statements by our use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “continue,” “could,” “endeavor,” “estimate,” “expect,” “goal,” “intend,” “may,” “might,” “plan,” “progress,” “potential,” “predict,” “projection,” “seek,” “should,” “will,” or “would” or the negative thereof or other variations thereon or comparable terminology. All of these forward-looking statements are based on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. These and other important factors may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Some of the factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include, among other things, the development or lack of development of certain technologies, changes in the nature of our operations, acquisitions or divestitures of our current facilities, and other risks and uncertainties identified in our filings with the Securities and Exchange Commission. All statements other than statements of historical fact included in this press release are forward-looking statements. All forward-looking statements made in this press release speak only as of the date of this release. We undertake no obligation to publicly announce any update or revision to any of the forward-looking statements made herein, whether as a result of new information, future events, or otherwise.