Commits $10.5 million to expand signature corporate citizenship program, ITT Watermark(R)
Submitted by: ITT Corporation
Posted: Sep 07, 2010 – 11:10 AM EST
STOCKHOLM, Sweden, Sep. 07 /CSRwire/ - ITT Corporation (NYSE: ITT) announced today at World Water Week that it has pledged $10.5 million over three years (2011-2013) to provide one million more people around the world with access to safe water and sanitation. This announcement marks a significant expansion of the company's signature corporate citizenship program, ITT Watermark®, which will reach 500,000 people by the end of 2010.
ITT Watermark currently partners with internationally recognized nonprofits -- Water For People, Mercy Corps and China Women's Development Foundation -- to bring safe water, sanitation and hygiene education to children, families and communities in the developing world and to provide access to safe water in times of emergency. The renewed commitment will expand the program's presence in key emerging markets for ITT -- including the addition of new countries in Latin America, and increasing the reach of its current programs in India and China. The program will also continue to leverage ITT's expertise to promote water education through the company's partnership with the Stockholm International Water Institute's renowned Stockholm Junior Water Prize.
"ITT is proud to announce the expansion of ITT Watermark and our continued commitment to enable access to safe water and sanitation," said Steve Loranger, ITT's chairman, president and chief executive officer. "We created this corporate citizenship effort because we knew ITT was uniquely positioned to address both the commercial demand and growing need for safe water, sanitation and hygiene education in developing countries. The impact of our initial investment not only confirmed this, but inspired us to double our commitment to reach more people with enduring water and sanitation solutions."
In the first phase of ITT Watermark, the company pledged $4 million over three years (2008-2010) to provide safe water, sanitation and hygiene education to 300 schools in Guatemala, Honduras, India and China and to respond to disasters around the globe, particularly when there is a need to provide fresh water or remove excessive water during flood conditions. ITT's emergency support has been extended to more than 10 countries, including Haiti, Democratic Republic of Congo, Myanmar and Sri Lanka.
The program's driving force includes ITT's global employee volunteers who work directly with nonprofit partners to train, implement and monitor water solutions on the ground in developing countries. On a local level, employees play a critical role through fundraising and volunteer projects that increase awareness and provide much needed support for global water needs.
"ITT has long realized that sustainability is best demonstrated by accountability," said Anders Berntell, Stockholm International Water Institute's executive director. "This is a global citizenship program deserving of international notice. My hope is it will inspire other companies to join in addressing the full spectrum of water issues in a truly sustainable manner."
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 2009 revenue of $10.9 billion. www.itt.com
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