SYNERGIES T CLIMATE CHANGE

these processes, such as adjusting pH levels in desalination, controlling water pH in wastewater treatment, and facilitating water remineralization.

As a result of the potential synergies between carbon and water, we are embarking on a regenerative and sustainable initiative that promotes carbon negativity and water positivity. This initiative, which has garnered support from numerous major corporations worldwide, involves actively removing more carbon dioxide from the atmosphere than is emitted, resulting in a carbon-negative ratio. Similarly, we strive to have a net positive impact on water resources through strategies such as water reuse, desalination, and integrated water management, aligning with the concept of Water Positivity. Inspired by Graciela Chichilnisky’s work with the carbon emission compensation market, the concept of Water Positivity stipulates that a company can only be deemed water positive if it generates more freshwater than it consumes.

A company achieves Water Positivity when its generation of purified water is greater than its direct or indirect consumption of freshwater in the production of goods or services. Corporations can compensate for their water footprint and become Water Positive by reducing their overall water consumption and producing high-quality water through desalination and/or water reuse from non-potable water. This approach mirrors the fundamental processes of the hydrological cycle. The Water Positive initiative establishes a marketplace similar to the carbon credits market, compensating for water footprints in a manner comparable to CO 2 emissions compensation. However, there are key distinctions between the two approaches. Carbon offsetting predominantly deals with gases and is independent of the location where emissions occur, while water offsetting involves additional variables such as water footprint trade, local water scarcity, transportation of produced water, and considerations related to social, economic, and environmental factors.

Like carbon offsetting, water offsetting offers a significant opportunity to strengthen ESG criteria within companies. The “E” (Environmental) aspect focuses on mitigating climate change and preserving the environment. Meanwhile, the “S” (Social) aspect contributes to sustainable development and the well-being of individuals and communities by generating more water than it consumes. The “G” (Governance) aspect acknowledges that companies dependent on substantial water volumes are exposed to water-related risks, including shortages and restrictions, which can impede operations and result in additional expenses.

The Water Positive framework was developed through a collaborative effort spanning two years and involving over 50 professionals from various academic backgrounds. The collaboration took place under the International Desalination Association (IDA) and its affiliated organizations and strategic partners. This initiative aims to establish a marketplace similar to the carbon credits market, but for water footprint compensation, which would help countries facing water scarcity to compensate for their water footprint trade in goods and services, addressing the water and climate crises simultaneously. While our efforts in implementing the carbon emissions offset market spanned more than 8 years, we cannot afford to wait that long to jumpstart the Carbon Economy. Time is of the essence, and the urgency is clear. The moment for action has arrived, and the stakes are high. Policy action is needed now to create a “carbon negative market” that trades carbon removal obligations and to establish new types of tradable securities that accelerate investment in carbon removal projects and reduce legacy carbon in the atmosphere. It is imperative that we seize this opportunity and move forward decisively.