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Source: cision | Published on: Tuesday, 26 December 2023
BENGALURU, India, Dec. 26, 2023 -- Art of Living, an internationally acclaimed humanitarian organisation led by Gurudev Sri Sri Ravi Shankar ji, announced its latest initiative to solicit corporate social responsibility (CSR) of qualified companies by investing in AquaKredits - water credits. This strategic move is a part of the organisation's broader commitment to sustainable business practices and responsible water management. KENT RO, world's leading manufacturers of water purifiers and home appliances, has pioneered this initiative by being the 1st company to buy AquaKredits under its CSR.
AquaKredits, issued by AqVerium – World's 1st Digital Water Bank, is an innovative approach to assess and value water quality. AquaKredits are issued based on a stringent water audit, verification & validation of impact data and other evaluating factors. Each Art of Living was the first non-profit to onboard all its water conservation projects on AqVerium, which went through stringent verification & validation of the reported impact basis which AquaKredits were issued. In the 1st phase, AqVerium has issued 467,054 AquaKredits for creating an additional 46,70,54,025 Litres through recharge pits. Each AquaKredit represents 1000 litres of water saved, conserved or harvested.
Water scarcity is a critical global issue, and businesses play a crucial role in addressing this challenge. In line with KENT RO's dedication to environmental stewardship, the company has proactively engaged in purchasing AquaKredits under its CSR obligations.
Shri Mahesh Gupta, Chairman of KENT RO commented on the initiative, saying, "At KENT RO we recognize the importance of sustainable water management in preserving our environment and supporting communities. Our decision to invest in AquaKredits is a testament to our commitment to responsible business practices and corporate social responsibility. Through our CSR we are actively contributing to the conservation and sustainable use of this precious resource."
"We are very excited with this pioneering & benevolent gesture by Shri Mahesh Gupta ji, which opens a whole new vista to qualified corporates to participate in Sustainable Water Management through purchase of AquaKredits - Water Credits under CSR. Our partnership with AqVerium, founded by Dr. Subramanya Kusnur, New Waterman of India, is a testament to provide complete transparency to donors powered with a data scientific tool of the impact achieved though AquaKredits. These AquaKredits, bought at Rs. 100/- each, not only are a representative of cost involved in conserving water, but also the genuine intent, effort and commitment of all stakeholders which is priceless," said Prasana Prabhu, Chairman – Art of Living Social Projects.
AqVerium provides a platform to all stakeholders to demonstrate their commitment to water sustainability and stewardship by incentivising good behaviour with AquaKredits which can be offset to balance water deficit or bought by qualified corporates under CSR.
Speaking on the occasion, Dr. Bhaskar Chatterjee (ex IAS), architect of CSR law and widely acclaimed as the Father of CSR in India said, "It is a very momentous occasion as we celebrate 10 years of CSR in India and what better to have AquaKredit as an effective tool for impact assessment and measurement for water sustainability. Water is core to sustainability and human life and investing in AquaKredits qualifies for CSR under The Companies Act 2013, section 135, schedule 7, Item 4. It also aligns with the United Nations Sustainable Development Goals, particularly Goal 6: Clean Water and Sanitation. I take this opportunity to invite corporates to emulate this pioneering partnership between Art of Living, Kent RO and AqVerium and exemplify their commitment to water sustainability."
The Art of Living's contribution to addressing India's water scarcity:
About The Art of Living - Social Projects
The Art of Living Social Projects has resolved to create positive societal impact through transformative initiatives. With a focus on holistic development, the organisation strives to contribute to the well-being of individuals and communities alike.
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