As the world is today and the way the future looks, water brings some of our biggest challenges. For the second year in a row, the World Economic Forum has identified the water crisis as the biggest global risk for the coming years. This topic draws a lot of attention during the organization's yearly summit in Davos, Switzerland.
As water plays a vital role for basic survival, food production and business growth, it should raise everyone's concern. However, it is very important not to fall into despair but to take action and thereby help turn the tide towards a more positive direction.
In Grundfos, the company I lead, sustainability is a core value. That is why we develop new technologies and energy efficient solutions for water supply and treatment of wastewater, among other applications. We develop solutions that contribute to ensure clean drinking water to more people and avoid wasting the scarce resource. We are also taking our own medicine, implementing our solutions to reduce our own water consumption. For instance, by 2025 we want to have reduced our water consumption by 50 percent compared to 2008.
Of course, I have to admit that is it necessary for a company like ours to cooperate with other companies and organizations if we want to avert the coming water crisis. That is why we are present when water is on the agenda in both national and international forums. This also applies to the World Water Forum Summit.
Recently, we have recently joined the 2030 Water Resource Group in its effort to strengthen the private-public-civil society cooperation to promote a sustainable transformation when it comes to managing the global water resources. The ultimate goal of the group is to close the gap between water demand and supply by 2030. Among its members are the World Economic Forum, the International Finance Corporation, the World Wildlife Fund, and companies such as Coca Cola and Nestlé.
Every time Grundfos signs agreements like this or otherwise seeks to influence the world around us, I am filled with pride to represent a company that has a higher goal than manufacturing pumps, but both can and will fight for a more sustainable use of the world's water and energy resources. It reminds me how deeply privileged I am.