IDB, IWA collaborate to develop world's first rating agency for water industry
The Inter-American Development Bank and the International Water Association recently announced that they have collaborated to jointly develop AquaRating, a new and innovative, first-of-its-kind rating agency for the water sector.
WASHINGTON, DC, March 3, 2015 -- The Inter-American Development Bank (IDB) and the International Water Association (IWA) recently announced that they have collaborated to jointly develop AquaRating, a new and innovative, first-of-its-kind rating agency for the water sector.
AquaRating offers a comprehensive, impartial and credible evaluation of water utilities. Moreover, it fills a gap in the market by establishing the international standard for assessing water and sanitation services provisions according to three dimensions: performance indicators, best practices and information quality.
IDB and IWA's rating system provides a detailed evaluation of 112 elements across eight key areas and validates information through an independent auditing process, enhancing accountability and transparency. As a standard, AquaRating sets the baseline for utilities to monitor their performance and plan for improvements.
IDB has licensed AquaRating to the IWA to establish the first rating agency for water and sanitation services providers. The rating system has already been piloted at 13 utilities in nine countries across Europe, Latin America and the Caribbean. Further, a worldwide market introduction is planned for 2015.
"The launch of AquaRating establishes a new global standard for water and sanitation services provision," said Ger Bergkamp, IWA executive director. "It will make a significant contribution to improving utility performance -- vital to delivering more effective and efficient services -- and allowing them to respond to ever-increasing water pressures."
Sergio Campos, IDB Water and Sanitation Division chief, added, "AquaRating gives water and sanitation services providers a roadmap to anticipate future challenges. The rating system allows for better planning and decision-making processes for the utilities' management to achieve sustainable and efficient outcomes. AquaRating helps water and sanitation services providers become more resilient."