Former Australian Prime Minister Kevin Rudd, Chair of the Sanitation and Water for All partnership, has hosted a meeting of some of the world’s major bottled water brands and retailers to discuss a new global investment fund for water.
Based on the concept of directing one cent per litre from bottled water sales, the fund has the potential to raise hundreds of millions of dollars to fight water poverty across the developing world and tackle plastic pollution head on.
As well as leaders of major bottled water producer and retailers, others at the meeting included financial advisers Lions Head Global Partners, who have conducted a feasibility study for the fund, as well as water and sanitation experts and NGOs.
The meeting was kindly hosted by The Case Foundation. The studies to test the concept for a global investment fund for water have been generously supported by The Rockefeller Foundation and The Osprey Foundation.
Speaking after the meeting, Mr Rudd welcomed the Co-Op UK as the first corporate partner and urged others to join, adding, “this is is a great, simple, concept which will fundamentally change people’s lives.”