• Conservation and energy savings depend on efficient and reliable water infrastructure
WHITE PLAINS, NY, Mar. 22, 2011 -- Today, March 22, the world turns its attention to the sustainable management of water resources in recognition of World Water Day. ITT Corporation (NYSE:ITT), a world leader in the transport and treatment of water and wastewater, supports the United Nations' (UN) 2011 focus on urbanization and water infrastructure -- a critical, yet frequently forgotten, piece of the puzzle.
Today, half of the people on the planet live in a city and according to UN-HABITAT, virtually all of the world's demographic growth over the next 30 years will be concentrated in urban areas, with the world's urban population expected to double by 2050. In China alone, 300 million people are expected to migrate from the interior of the country to the coastal regions in the next two decades, placing demands on infrastructure that cannot possibly be met over the long-term without massive investment in water treatment and infrastructure.
In other developed regions, water pipes as well as treatment and delivery systems are crumbling under the combined pressures of population growth, urbanization and chronic underinvestment. In the United States, the U.S. Geological Survey estimates that 1.7 trillion gallons of water are wasted every year as a result of water main breaks and other leaks. Seemingly minor improvements in water infrastructure can also save enormous amounts of energy: California's State Water Project, which pumps water over the Tehachapi Mountains, is the largest single user of energy in California and accounts for up to three percent of all electricity consumed in the state. Even incremental changes could realize significant energy savings.
"On World Water Day, we must acknowledge that we cannot speak about water conservation or energy savings without also talking about water infrastructure," said Gretchen McClain, president of ITT Corporation's Fluid and Motion Control business. "Water infrastructure must be a priority for more than one day each year. We must build upon the momentum of World Water Day to make water infrastructure a global priority."
ITT's Value of Water Survey, released in October, demonstrates that nearly one in four American voters is "very concerned" about the state of the United States' water infrastructure. Additionally, 95 percent of Americans rate water as "extremely important," more than any other service they receive, including heat and electricity. To view the full results of the survey, visit www.itt.com/valueofwater.
ITT's commitment to raising awareness of water issues is further reflected through its signature corporate citizenship program, ITT Watermark, which includes a $10.5 million pledge over three years (2011-2013) to provide safe water, sanitation and hygiene education to communities in the developing world and to provide access to safe water in times of emergency. ITT is also co-chair of the World Business Council for Sustainable Development's water initiative, a major sponsor of World Water Monitoring Day, founder of the Stockholm Water Prize, and the global sponsor of the Stockholm Junior Water Prize -- all of which address the need for water conservation worldwide.
About ITT Corporation
ITT Corporation is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provide protection and safety and connect our world. Headquartered in White Plains, N.Y., the company reported 2010 revenue of $11 billion. www.itt.com.