In front of a distinguished audience gathered in New York City this week for the Clinton Global Initiative (CGI), we proudly outlined the significant achievements we have made in fulfilling our CGI Commitment to invest in water infrastructure while using a business model that is designed to maximize social impact.
During the first year of our CGI Commitment we successfully attracted private capital to improve and invest a municipal water system in Bayonne, NJ while helping to alleviate millions in accumulated city debt. Municipal debt is a pervasive burden in many cities across the U.S., limiting progress on many fronts; from public transportation to school improvements to green space planning.
“We are proud of the progress we’ve made thus far and we are confident that we have a successful model that will allow for a high level of investment in water infrastructure for any U.S. city that chooses to adopt it,” said Bertrand Camus, United Water chief executive officer, who first presented the SOLUTIONSM business model to President Bill Clinton at the annual CGI meeting in New York last year.
Established in 2005 by President Clinton, CGI convenes global leaders to create and implement innovative solutions to the world’s most pressing challenges. These solutions must be measurable and game changers in their markets.
After the first year of its CGI commitment, United Water is on track to invest $20 million in the first five years in the City of Bayonne’s municipal water infrastructure and $130 million overall. Already, state-of-the-art metering technology is being installed at customer’s homes and businesses, enabling the implementation of a smarter water network. Additionally, workers have been trained and outfitted with new equipment to protect their safety and allow them to work more efficiently.
During the same five-year time frame, United Water will invest $1 billion in assets across the country to update aging infrastructure, preserve water and maintain reliable service for customers.
United Water’s SOLUTIONSM and its CGI Commitment to Action respond directly to growing national awareness that it will take up to $1 trillion over the next two decades to renew the country’s aging water and sewer systems and to make old cities more resilient.