Botanical Water Technologies Ltd
55 Ludgate Hill
All rights reserved. Botanical Water Technologies Ltd 2022.
NEWS PROVIDED BY Botanical Water Technologies June 28, 2022, 13:00 GMT
Built on blockchain technology this trading platform, called the Botanical Water Exchange (BWX), creates channels for the sale and delivery of water for ingredient purposes or for companies to meet their ESG targets and water use by receiving Water Impact Credits (WICs) for funding community and environmental impact projects.
''Every certificate purchased via the BWX platform is bonded to a unique unit of water that comes from our certified sustainable water source.” — Terry Paule - Co Founder & CEO of Botanical Water Technologies
‘’When buyers enter our platform, they are met with end-to-end transparency and traceability of processes’’ said Co-Founder and CEO of Botanical Water Technologies, Terry Paule. ‘’The BWX utilizes Fujitsu’s Track and Trust Solution which allows us to include the production, sales, purchase, delivery, usage, and certification of the water being purchased.’’
The BWX will recognize any water that is allocated to community and environmental projects by issuing WICs. These WICs are in line with globally recognized third party standards, such as the Volumetric Water Benefit Accounting (VWBA) approach, which is used to verify the volume and impact of water allocations.
BWX’s ecosystem enables businesses to identify, align and achieve their corporate, social or ESG goals through water impact projects with meaningful effect on regions, globally.
LimnoTech, an environmental science and engineering firm with expertise on clean sustainable water, is providing expert strategic advice on potential water impact projects and the VWBA.
‘‘VWBA empowers companies with a comprehensive, standardized and science-based methodology to calculate the benefits of water stewardship activities. The BWX enables companies to balance their water use by funding social and environmental projects from treated water created using their technology.’’ Wendy Larson, Senior Principal of LimnoTech and Environmental Scientist.
As the UN Global Compact CEO Water Mandate and its Water Resilience Coalition are calling on businesses to join the Net Positive Water Impact journey, water resiliency projects supported by WICs will increase in demand. The new BWX platform will make this process frictionless and easy to manage, with the platform set to go live in September. Companies will have their first opportunity to purchase WICs created from Californian tomatoes produced by Ingomar Packing Company.
With businesses often being the largest users of water, a shift in focus has begun, highlighting the need to dramatically reduce water consumption. As Microsoft and PepsiCo advocate for net positive water impact, it is clear that a commitment to ‘’water positivity’’ is being sought by businesses in order to help make the necessary changes required to positively impact people and the planet.
Read the original EIN News article here.