International Finance Centre (IFC) has inked a strategic partnership with Tata Quality Management Services (TQMS) for water conservation.
The partnership will work on ways to improve water efficiency and promote sustainable water use across eleven plants of Tata group companies such as Tata Steel, Tata Power, Tata Motors and Tata Chemicals.
Staff members across the facilities have been trained in water footprint assessment and strategies, and will play the role of water “champions”.
“By collaborating with IFC, we have accelerated the uptake of water sustainability measures within and outside our industrial operations,” said Prasad Menon, Chairman, TQMS.
This will help us replicate the framework across the other Tata group companies, he added.
Indian industry is facing business disruption risk arising from competition over scarce water resources and quality degradation. Water Resources Group forecasts that India will experience a water shortfall of almost 50 per cent by 2030. Therefore, there is a pressing need for industry to use scarce water resources judiciously.
IFC, a World Bank group member, plays a leading role in identifying and implementing solutions to meet such challenges, both through its work with client companies and through multi-stakeholder forums.
Priyanka.pani@thehindu.co.in