Watts Water Technologies Publishes Its 2019 Sustainability Report
Watts Water Technologies, Inc. (NYSE: WTS) – one of the world’s leading manufacturers and providers of plumbing, heating, and water quality products and solutions – today announced the release of its 2019 Sustainability Report, which highlights the Company’s environmental, social and governance (ESG) practices, and commitment to best-in-class sustainability performance.
“For more than 145 years, Watts has built a reputation for improving the comfort, safety and quality of life for people around the world through its diverse portfolio of water technologies and solutions,” said CEO and President Robert J. Pagano Jr. “Since the onset of the coronavirus pandemic, our mission is now more important than ever. Together with our employees, suppliers and partners, we are committed to operating our business ethically and responsibly to meet the critical needs of our customers, while preserving a safe and sustainable global water supply now and for generations to come.”
Key accomplishments highlighted in the report include:
- Reduced consumption of natural resources , including a 13% reduction in water consumption and 15% reduction in resource intensity – the result of taking proactive measures to conserve water, and manage its flow and discharge responsibly. Of note, the Company’s manufacturing site in Ningbo, China reduced its annual water consumption by more than 46 million liters – a 68% improvement from the prior year.
- A continued shift toward an eco-friendlier portfolio of products and solutions , including the Company’s high-efficiency gas fired boilers and water heaters, which reduced more than 110,000 tons of CO 2 for customers last year – three times more CO 2 than Watts itself generated. Additionally, the Company set a target to derive 25% of its revenue from smart and connected products and solutions by 2023 – which are designed to promote safety, energy efficiency and water conservation.
- Commitment to providing clean water access to disadvantaged communities through the Company’s ongoing partnership with Planet Water Foundation, which to date has impacted more than 15,000 people in eight different countries. Last year, Watts funded and installed water purifications systems in India and Thailand for 4,000 people.
- Recognition for sustainability performance from Newsweek magazine , who named Watts among America’s Most Responsible Companies. The top 300 companies, spanning 14 industries, made the final list following a detailed analysis of ESG performance from more than 2,000 companies and an independent survey of 6,500 U.S. consumers.
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