New Delhi, Delhi, November 4, 2009 /India PRwire/ — IFC, a member of the World Bank Group, is working with Jain Irrigation to launch a water footprint initiative that will allow the company to measure its environmental and sustainability benefits and identify ways to reduce its water consumption.
The project will demonstrate effective management of natural resources, particularly the benefits to farmers of water conservation.
Jain Irrigation has pioneered water conservation and the use of water-saving devices in India. It will be the first company in India to measure its water footprint. Water footprinting involves evaluating direct and indirect water usage in business activities, including those of suppliers. It also entails understanding linkages to local water sources and scarcity, and assessing impacts on community water resources and the environment with the goal of adopting conservation measures.
As a responsible corporate entity, we value IFCs experience and partnership in launching water footprinting at our sites that will improve our understanding of the social and environmental impacts and help us mitigate these impacts, said Dilip Kulkarni, President of the Agri Foods Division at Jain Irrigation, an Indian agro-processing and drip irrigation company. This exercise will allow us to further our leadership in water efficiencies.
IFCs support will help develop tools that can be replicated by other private sector companies in ascertaining their direct and their suppliers water exposure, minimizing water risks, improving water efficiencies, and limiting their water-related social and environmental impacts.
Activities in sectors such as agribusiness, power generation, mining, and semi-conducter manufacturing are particularly exposed to water- related risks, said Rachel Kyte, IFC Vice President for Business Advisory Services, while visiting India. Water footprinting can help companies understand water issues linked to their direct operations and assess their own and their suppliers water performance.
Jain Irrigation and IFC have a long-standing relationship. IFC has invested almost $60 million in Jain Irrigation.
IFC is a founding member of the Water Footprint Network (www.waterfootprint.org), which has developed a water footprint assessment methodology. The network brings together a range of organizations active in water footprinting.
To learn more about IFCs activities in South Asia, visit www.ifc.org/southasia.
Notes to Editor
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit www.ifc.org.
About Jain Irrigation Systems Limited
Jain Irrigation is pioneer company in water creation, sourcing, storage structures, water distribution, and water conservation devices like micro irrigation systems. Jain also develops high-tech agri-inputs for farm productivity increases like high-quality planting materials, greenhouse cultivation, and improved cultivation practices such as ultra high-density plantations, sustainable agriculture, and agro-processing, providing end-to-end solutions to small holders. For more information, visit www.jains.com.
Source: India PR Wire