AquaRating, the world's first water rating agency
Inter-Am Dev Bank (IDB) and the Intl Water Association (IWA) launch new assessment system.
The Inter-American Development Bank (IDB) and the International Water Association (IWA) have jointly set up the world’s first rating agency for the water sector.
AquaRating offers a comprehensive, impartial and credible evaluation of the utilities’ performance and best management practices, the pair said in a statement.
The agency fills a gap in the market by establishing the international standard for assessing water and sanitation services provision
AquaRating assesses water and sanitation services providers according to three dimensions: performance indicators, best practices and information quality.
The rating system gives 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 set up the first rating agency for water and sanitation services providers.
The rating system has already been piloted in thirteen utilities in nine countries in Europe and Latin America and the Caribbean. A worldwide market introduction is planned for 2015.
“The launch of AquaRating establishes a new global standard for water and sanitation services provision”, Ger Bergkamp, IWA Executive Director said.
“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.
“AquaRating gives water and sanitation services providers a roadmap to anticipate future challenges”, Sergio Campos, Water and Sanitation Division Chief at the IDB, added.
“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. Empowering water and sanitation utilities is a crucial step towards ensuring water and sanitation for all.”