| Invested through |
|
|---|---|
| Asset Classes | Listed equity |
| Impact strategy | Impact Equities and Bonds |
| ISIN code | US1307881029 |
| Industry group | Utilities |
| Aligned with SDGs |
California Water Service Group (CWT) is the third largest publicly traded water utility in the US. A holding company formed in 1997, California Water Service Group is the parent company of California Water, New Mexico Water, Washington Water, Hawaii Water, Texas Water and CWS Utility Services and HWS Utility Services LLC. The seven subsidiary companies provide regulated and non-regulated water services to over 2 million people in over 100 communities. The bulk of the business consists of the production, purchase, storage, treatment, testing, distribution and sale of water for domestic, industrial, public and irrigation uses, and for fire protection. In some areas, California Water also provides wastewater collections and treatment services, including treatment which allows water recycling.
Investment rationale
The underground pipelines that carry water from the source to the tap are essential to ensure a reliable, uninterrupted supply. CWT maintains backup power systems to continue water service to their customers if the power companies' supplies are interrupted. Many of their sites are equipped with emergency electric generators designed to produce electricity to keep the wells operating during power outages. Storage tanks also provide customers with water during blackout periods.
CWT engages in a range of conservation programs and actively participate in the implementation of California’s Sustainable Groundwater Management Act. For the customer, lower water consumption means that they are placed in a lower bracket for monthly fees. In that sense there’s an incentive for lower water consumption.
Alignment with Triodos Transitions:
In total, 87% of revenues is aligned with the Resource Transition. The contribution to the Resource Transition comes from 87% of revenues related to the impact objective Sustainable Water & Wastewater Management.