Global Water Resources Enhances Sustainability Efforts Amid Growth

Global Water Resources Highlights Sustainability in New Report

Global Water Resources, Inc. (NASDAQ: GWRS), a prominent player in water resource management, has released its second sustainability report, marking a significant milestone in its 20-year journey of serving communities in Arizona.

Ron Fleming, the CEO of Global Water, shared insights on the report, emphasizing how it embodies the integration of water management with sustainability practices. The company's mission has consistently focused on delivering sustainable solutions to enhance environmental stewardship.

Created in alignment with SASB Standards, this report communicates essential sustainability metrics that cater to both financial stakeholders and the communities served by Global Water. SASB Standards provide a robust framework encouraging transparency in areas like energy efficiency, water accessibility, and climate change responsiveness.

Addressing Water Sustainability Challenges

Ongoing challenges in water sustainability highlight the importance of effective management strategies, especially amid prolonged drought conditions. The report outlines how these challenges affect regulations aimed at improving water quality and necessitate substantial investments in infrastructure.

“Our commitment as a leader in Total Water Management allows us to adeptly navigate and tackle these evolving challenges,” remarked Fleming. The company operates 32 water systems in Arizona, reflecting its ability to adapt and grow amidst the changing landscape, boasting over 63,250 active service connections as of mid-2024, representing a 7.4% annual growth since 2019.

Innovations in Total Water Management

The report emphasizes Global Water’s dedication to innovative practices within its Total Water Management (TWM) model. This integrated approach concomitantly manages water, wastewater, and recycled water, ensuring efficient use of every drop.

Significant Milestones and Innovations

• The company’s 20th anniversary reflects two decades of excellence in TWM, enhancing the communities it serves and optimizing recycled water utilization.
• Through its purple pipe program, Global Water has championed the use of recycled wastewater, increasing utilization by 6.2% in 2023, amounting to 1.4 billion gallons. Overall, the company has successfully recycled over 17 billion gallons since its inception.
• Smart water management technology has been introduced, providing all customers, particularly those from recent acquisitions, with advanced metering solutions that promote conservation and efficiency.
• Global Water's unique tiered rate design incentivizes reduced water consumption effectively, with over 54% of customers in Maricopa participating in this conservation initiative.
• A customer assistance program showcases Global Water's commitment to its community by providing financial support to those in need, extending significant annual credits to eligible customers.
• In 2023, the company expanded its services significantly, largely due to its acquisition of Farmers Water Co., with projects totaling an investment of $22.3 million aimed at enhancing service areas.
• With ambitious plans to increase service connections, Global Water aims to accommodate an even larger customer base by adhering to sustainable and responsible stewardship practices.

Acknowledgments and Future Directions

The commitment to excellence is evidenced by numerous awards acknowledging Global Water's superior water reuse practices. These recognitions serve as a reminder of the company's ongoing effort to innovate within the industry.

Furthermore, Global Water continues to focus on regional growth, reinforcing the need for integrated water management solutions in both urban and suburban areas. By emphasizing conservation and innovative practices, the company positions itself as a forward-thinking leader in the water resource management sector.

Frequently Asked Questions

What is Global Water Resources' mission?

The mission is to deliver sustainable and responsible water management solutions to the communities it serves while promoting environmental stewardship and conservation.

How does Global Water manage its resources?

Global Water employs Total Water Management (TWM), integrating water, wastewater, and recycled water systems to maximize resource efficiency.

What innovations has Global Water implemented?

The company has introduced smart water management programs, including advanced metering technologies and unique rate designs that incentivize water conservation.

How significant is the growth of Global Water's service connections?

As of mid-2024, Global Water operates over 63,250 service connections, reflecting a growth trend since 2019 and ongoing regional development.

What awards has Global Water received?

The company has been recognized as a 'Utility of the Future Today' and received awards for demonstrating excellence in public asset management practices.

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