Global retail initiative Water Unite has launched the Water Unite Impact, managed by Wellers Impact.
The investment vehicle, with planned capitalisation of $100 million, will invest in private sector water, sanitation and plastics recycling firms globally.
The fund will address the gap in the funding landscape not currently filled by charitable foundations, microfinance institutions, commercial banks and traditional capital markets.
In the world today, over 785 million people do not have access to safe water sources, more than 2 billion live without sanitation facilities, and over 85% of the 300 million tonnes of plastic waste is not recycled.
Seeking to address this reality, the fund will invest into private sector businesses using a catalytic capital structure relying on Water Unite’s micro-levy programme contributions from international retailers as its foundation. This investment vehicle is in its pilot phase and intends to deploy its first round of investment in Summer 2020.
Chris Sellers, CEO of Water Unite, says: “It has always been part of our ethos to find new and innovative ways to fund life-changing, sustainable water poverty and plastic pollution solutions in developing nations. Water Unite Impact’s structure will build on the funding from our 1 cent per litre micro-levy on bottled water to leverage and multiply private sector investment in vitally needed areas.”
While Neil Sandy, CEO of Wellers Impact, said: “Proving this pilot scheme opens up incredible possibilities to change the lives of millions of people throughout the world by funding innovative, entrepreneurial and sustainable water, sanitation and plastic private businesses and service providers.”