Closing Water Financing Gap Purpose of this presentation:
Closing Water Financing Gap Purpose of this presentation: encouraging to think outside the box, try innovative ways of accessing finance for your business and understand the power of profits for keeping your mission alive The Gap A recent United Nations report revealed that billions of people are still without sustainable water, sanitation, and hygiene services and that 80 percent of countries do not have enough financing to meet the SDG targets. In 2016, the World Bank estimated that $114 billion per year would be needed to achieve SDG 6 universal and fully sustainable access to WASH services. In 2014, development finance for water stood at just $18 billion (6 3 times less) With new data reveling how far off target the water and sanitation sector is in meeting the Sustainable Development Goals, advocates are grappling with the question of how to catalyze more funding.
Finance Side (Supply of Funds) Ways to fund social and environmental missions Development Finance Philanthropy Blended Finance (recipe for Impact revolution Part of II) Socially Responsible Investing Green Finance Social Impact Bonds (SIBs) Beyond SIBs Environmental Impact Bond, Income Share Agreements, Ou tcome Rate Cards Private Capital Impact Investing Finance Side Innovative Finance
Blended Equity DebtFinance Impact Investing Mechanisms with added creativity Finance Side Impact Investing With its focus on doing good Impact Investing is currently one of the hottest areas amongst the boarder investment community Investors big and small are eager to get in on the action In 2017, $35.5 billion went into impact investment deals, according to the Global Impact Investing Network (GIIN), a figure predicted to increase by 8% in 2018 Impact Investing should be applauded for driving underutilised funds into deserving projects Recently, Sir Ronald Cohen, (Bridges Ventures) known in some quarters as the father of impact
investing, called for no less than an impact revolution. Comrades, he was quoted as saying, in a Pioneers Post article about the Global Steering Group for Impact Investings annual summit, its clear that capitalism in its present form has fundamental flaws. Its not delivering on its promise to share prosperity and to bring social progress for all. SOCAP annual conference gathering Impact Investing community together Other Side of the Finance Side Venture Capital driving Start Ups There are other types of investing that create a positive impact, venture capital is one of them, alongside with Impact Investing. Below are the reasons why: 1. Boosting productivity (VC - the business of reallocating capital to novel, unproven and untested business ideas) areas that are driving technological change, progress and value increase in productivity, employment and returns 2. Better and cheaper products that improved life (VC and start ups are driving leaps in service, convenience and cost cost reduction, effectively meeting the needs of the society, improved affordability, higher disposable income, improved quality of life 3. Preventing abuse of market power (without innovation and competition, markets become lazy and
uncompetitive, without real alternatives). This is true to financial industry and utilites with high barriers to entry and monopoly by a handful. Breakthrough Example Homeshift - https://www.homeshift.com/ 4. Increased market resilience greater market diversity reduces risk, constant supply of new start ups helps industry respond and adapt 5. Empowered individual. Start Ups empower individuals to harness the full extent of their talents and hard work by solving problems and creating value. Empowering individual is fundamental to success of modern economic systems and societies. Demand Side While many say there is new momentum building around innovative financing streams, discussions at the recent Stockholm World Water Week conference made it clear that more focus is needed on building up the demand-side, rather than solely on developing what one delegate described as sexy financial instruments. What we really need to do is look at the technical and financial efficiency of the service provider as well as the policy, institutional, and regulatory arrangements, according to Joel Kolker, head of the Global Water Security & Sanitation Partnership at the World Bank.
Demand Side Impact Investment Ready Cultural shift (typically mission driven, not profit focused) Business/Commercial/Legal Skills External expertise Resourcing Engaging in impact investing without a mission drift Tax implications Financial and Reputational Risks Reporting Requirements https://www.law.umich.edu/clinical/internationaltransactionclinic/Documents/May %2011%20Conference%20Docs/NGO%20Ready.pdf Demand Side Measuring Impact What is Impact (Impact Management Project GIIN)? The impact of any effect is its performance across five dimensions: Impact Dimensions
Impact Category What What outcomes do enterprises and investors contribute to? How do they know if the outcomes achieved are good enough? 1.Outcome in period 2. Importance of the outcome to stakeholder 3. Outcome threshold 4. SDGs and SDG targets (type of impact not intensity) Who Who do enterprises affect? How underserved are they in relation to the outcomes delivered by enterprises? 5. Stakeholder 6. Geographical boundaries 7. Baseline 8. Stakeholder characteristics
How much How significant are the outcomes delivered by enterprises across scale, depth and duration? 9. Scale 10. Depth 11. Duration Contribution Did the enterprises activities contribute to the outcome achieved? What would have likely been the outcome had the enterprise not done what it did? 12. Depth 13. Duration *Accounting for counterfactual Risk
What risks do enterprises and investors face in seeking to create impact? How can they evaluate and mitigate these impact risks? 14. Type of risk 15. Level of risk Enterprises and investors assess performance across these five dimensions by measuring and analysing 15 categories of data. https://impactmanagementproject.com/impact-management/what-is-impact/ A thought of a sceptic Measurement matters but pursuit and intention matter more. There is a need to find a narrative that these numbers represent meaningful change because values are not metrics Graham McMillan Ford Foundation How am I doing in regards to impact ? Investor/Client question is always tricky Impact Standards
opportunities and risks, potential challenges of enforcing metrics in an industry that is driven by mission and personal values Examples of Financial Innovations for Clean Water Access Azure Azure Technical Services (ATS) is a partnership between Catholic Relief Services and Azure S.A., a Salvadoran-based social enterprise. ATS supports Water Service Providers (WSP) to expand and improve water and sanitation services by providing: Design and engineering services for water and sanitation projects Training WSP operators and technicians Supporting the national water agency's Center for Formation of Rural WSPs Business development support to Water Service Providers, including small urban water utilities and community-run rural water boards Support Water Sup to apply and access loan loans from local financial institutions (banks and credit cooperatives) Azure Technical Services are partially funded by WSPs that pay for these services. ATS activities are also subsidized by technical service grants from Catholic Relief Services, MIF, Rotary Club,
and other supporters Other Good Companies and IWC Friends Water Org Water Credit https://water.org/about-us/our-work/watercredit/ Water Equity Waterpreneurs Innovate For Water Forum Technological Innovations for Water 1 Nanotechnology in filtration: According to the World Health Organisation, 1.6 million people die each year from diarrhoeal diseases attributable to lack of safe drinking water as well as basic sanitation. Researchers in India have come up with a solution to this perennial problem with a water purification system using nanotechnology. The technology removes microbes, bacteria and other matter from water using composite nanoparticles, which emit silver ions that destroy contaminants. "Our work can start saving lives," says Prof Thalappil Pradeep of the Indian Institute of Technology Madras. "For just
$2.50 a year you can deliver microbially safe water for a family."It is a sign that low-cost water purification may finally be round the corner and be commercially scaleable. Membrane chemistry: Membranes, through which water passes to be filtered and purified, are integral to modern water treatment processing. The pores of membranes used in ultrafiltration can be just 10 or 20 nanometres across 3,000 times finer than a human hair. But while membrane chemistry has been around for several years, it remains a source of intense research and development. "Chemistry significantly contributes to innovative water treatment solutions, such as turning salt water into fresh water suitable for human consumption," says Yannick Fovet, head of global development for water at chemical company BASF. Recent breakthroughs have been credited with forcing down the cost of desalinated water from $1 per cubic metre to between $0.80 and $0.50 over five years. New ceramic membranes are helping to make treatment more affordable. "Membrane technology is increasingly important because system integrity, longevity and costs have improved," explains Paul Street, business development director for engineering firm Black & Veatch. Seawater desalination: Seawater desalination is still extremely expensive, with reverse osmosis technology consuming a vast amount of energy: around 4 kilowatt hours of energy for every cubic metre of water. One solution being explored in Singapore, which opened its first seawater desalination plant in 2005, is biomimicry - mimicking the biological processes by which mangrove plants and euryhaline fish (fish that can live in fresh briny or salt water) extract seawater using minimal energy. Another new approach is to use biomimetic membranes enhanced with aquaporin: proteins embedded in cell membranes that selectively shuttle water in and out of cells while blocking out salts. Harry Seah, chief technology officer for PUB, Singapore's national water agency, says: "If science can find a way of effectively mimicking these biological processes, innovative engineering solutions can
potentially be derived for seawater desalination. Seawater desalination can then be transformed beyond our wildest imagination." Technological Innovations for Water 2 Smart monitoring: In developing countries alone, it is estimated that 45m cubic metres are lost every day in distribution networks. Leaks are not only costly for companies, but increase pressure on stretched water resources and raise the likelihood of pollutants infiltrating supplies."It does not make commercial sense to invest billions in additional reservoirs and water catchment, treatment plants [and] pumping stations, when as much as 60% of water produced is unaccounted for," says Dale Hartley, director of business development at SebaKMT, a water leak detection specialist.New monitoring technologies help companies to ensure the integrity of their vast water supply networks. Electronic instruments, such as pressure and acoustic sensors, connected wirelessly in real time to centralised and cloud-based monitoring systems will allow companies to detect and pinpoint leaks much quicker. Intelligent irrigation: Approximately 70% of the world's freshwater is used by the agricultural industry. Applying a more intelligent approach to water management by deploying precision irrigation systems and computer algorithms and modelling is already beginning to bring benefits to farmers in developed countries. However, while this approach embraces new instrumentation and analytical technologies, innovation comes from a change in mindset that emphasises the importance of measuring and forecasting. "In the old days there was not so much stress on measuring because we thought we had plenty of water," says Carey Hidaka, smarter water management expert at IBM. "It's a bit of a paradigm switch for the water industry, which like others is used to throwing new engineering developments at problems.
Wastewater processing: Engineering still has its place, however. Many people living in urban areas, even in advanced economies, still do not have their sewage adequately treated and wastewater is often discharged, untreated, into rivers and estuaries or used as irrigation water. New technologies are promising to transform wastewater into a resource for energy generation and a source of drinking water. Modular hybrid activated sludge digesters, for instance, are now removing nutrients to be used as fertilisers and are, in turn, driving down the energy required for treatment by up to half. "There is an urgent need for wastewater systems that are more compact, so that new plants can be built in urban areas where land is scarce and for upgrading and expanding extant facilities," says Dr David Lloyd Owen, an advisor to the board of Bluewater Bio, a specialist in wastewater treatment. Mobile recycling facilities: An unexpected by product from the explosion of the global hydraulic fracturing industry has been demand for highly mobile water treatment facilities. Investment is being channelled into reverse osmosis units that will allow companies to treat high volumes of water to extract gas and injected into the subsurface. "There will be knock-on benefits as products [will be developed with new applications where the price tolerance is much lower," says Peter Adriaens, professor of environmental engineering and entrepreneurship at the University of Michigan. Adriaens adds: "As these technologies develop and learn to treat high volumes of water, we will see cheaper, more potable treatment systems and we will start to move away from massive centralised treatment systems."
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