H2O America released its 2024 Corporate Sustainability Report, highlighting achievements in sustainability, community impact, and infrastructure investments.
Quiver AI Summary
H2O America, a major investor-owned water and wastewater utility, has released its 2024 Corporate Sustainability Report, showcasing its sustainability efforts and community contributions across various states. CEO Andrew F. Walters highlighted the company's commitment to sustainability, noting improvements such as a 43% reduction in greenhouse gas emissions since 2019, a 73% increase in solar energy generation with the addition of new projects, and significant investments totaling $353 million in water infrastructure. The report also features the launch of the Force for Good Foundation to support local nonprofits, while maintaining zero violations of drinking water standards and achieving an 85.2% customer satisfaction rate. H2O America serves over 1.6 million residents and emphasizes its dedication to environmental stewardship and community engagement.
Potential Positives
- H2O America achieved a significant 43% reduction in Scope 1 and 2 greenhouse gas emissions from the 2019 baseline, moving closer to its 2030 goal of a 50% reduction.
- The company increased its solar energy generation by 73% with eight new solar projects, including its first project in Texas, enhancing its commitment to renewable energy.
- H2O America invested $353 million in water infrastructure improvements, including the replacement of 46 miles of pipeline and installation of over 20,000 smart meters, which improves service reliability and efficiency.
- The company reported a high customer satisfaction rate of 85.2%, indicating strong performance in customer service and support initiatives.
Potential Negatives
- Concerns regarding the success of proposed transactions with Quadvest may indicate potential instability, as the approval process and integration pose significant risks for future financial performance.
- Significant emphasis on future goals, such as achieving a 50% reduction in GHG emissions by 2030, could imply current shortfalls in sustainability efforts.
- The reliance on forward-looking statements may raise questions about the company's transparency and the reliability of its future performance projections.
FAQ
What is the main focus of H2O America's 2024 Corporate Sustainability Report?
The report highlights H2O America's sustainability and community impact achievements across its operations in several states.
How much has H2O America reduced its GHG emissions?
H2O America achieved a 43% reduction in Scope 1 and 2 emissions from the 2019 baseline.
What community initiatives has H2O America launched in 2024?
H2O America launched the Force for Good Foundation to support local nonprofits, alongside making $400,000 in charitable donations.
How has H2O America improved its water infrastructure in 2024?
The company invested $353 million, replaced 46 miles of pipeline, and installed over 20,000 smart meters.
What was the customer satisfaction rate reported by H2O America?
H2O America achieved an 85.2% customer satisfaction rate in its latest report.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
SAN JOSE, Calif., Sept. 04, 2025 (GLOBE NEWSWIRE) -- H2O America (Nasdaq: HTO), one of the nation’s largest investor-owned water and wastewater utilities, today announced the release of its 2024 Corporate Sustainability Report. The report highlights the company’s sustainability and community impact achievements across its operations in California, Connecticut, Maine and Texas.
“In 2024, we deepened our commitment to sustainability while continuing to deliver high-quality water and exceptional service,” said Andrew F. Walters , CEO of H2O America. “From expanding solar energy generation to launching our Force for Good Foundation, we’re proud to be a force for good in the communities we serve.”
Key highlights from the 2024 report:
- GHG emissions : Achieved a 43% reduction 1 in Scope 1 and 2 emissions from the 2019 baseline, progressing toward the 2030 goal of 50%.
- Renewable energy : Increased solar generation by 73%, with eight new solar projects, including the first in Texas.
- Water infrastructure : Invested $353 million in infrastructure, replaced 46 miles of pipeline, and installed 20,000-plus smart meters.
- Water quality : Had zero violations of drinking water standards across all subsidiaries; over 73,000 compliance samples conducted.
- Community impact : Made $400,000 in charitable donations; launched the Force for Good Foundation to support local nonprofits.
- Customer satisfaction : Achieved an 85.2% satisfaction rate; expanded flexible payment plans and rate assistance programs.
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Governance
: Have a majority-female board with eight of 10 members independent; launched an enterprise risk management program.
The full report is available at www.H2O-America.com/esg-sustainability .
About H2O America
H2O America is a national network of locally operated water and wastewater utilities serving more than 1.6 million people. With a mission to sustain life through reliable water and world-class service, H2O America invests in infrastructure, environmental stewardship, and community partnerships to build thriving communities.
1 Our third-party assurance partner, accredited by the ANSI National Accreditation Board under ISO 14066, has audited our previous emissions inventories at the limited assurance level. We will release audited 2024 results later this year.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the federal securities laws relating to future events and future results of H2O America and its subsidiaries that are based on current expectations, estimates, forecasts, and projections about H2O America and its subsidiaries and the industries in which H2O America and its subsidiaries operate and the beliefs and assumptions of the management of H2O America. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “estimates,” “anticipates,” “intends,” “seeks,” “plans,” “projects,” “may,” “should,” “will,” “approximately,” “strategy,” or the negative of those words or other comparable terminology. These forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements.
The accuracy of such statements is subject to a number of risks, uncertainties and assumptions including, but not limited to, the following factors: (1) the risks associated with the proposed transactions with Quadvest, including, the risk of the proposed transactions not closing on the anticipated timeline, or at all, the ability to obtain required regulatory approvals, and the ability to successfully integrate Quadvest’s operations and realize the projected financial and other benefits of the proposed transactions; (2) the effect of water, utility, environmental and other governmental policies and regulations, including regulatory actions concerning rates, authorized return on equity, authorized capital structures, capital expenditures, PFAS and other decisions; (3) changes in demand for water and other services; (4) unanticipated weather conditions and changes in seasonality including those affecting water supply and customer usage; (5) the effect of the impact of climate change; (6) unexpected costs, charges or expenses; (7) our ability to successfully evaluate investments in new business and growth initiatives; (8) contamination of our water supplies and damage or failure of our water equipment and infrastructure; (9) the risk of work stoppages, strikes and other labor-related actions; (10) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, hurricanes, terrorist acts, physical attacks, cyber-attacks, epidemic, or similar occurrences; (11) changes in general economic, political, legislative, business and financial market conditions; and (12) the ability to obtain financing on favorable terms, or at all (including the financing for the proposed transactions with Quadvest in a timely manner), which can be affected by various factors, including credit ratings, changes in interest rates, compliance with regulatory requirements, compliance with the terms and conditions of our outstanding indebtedness, and general market and economic conditions. The risks, uncertainties and other factors may cause the actual results, performance or achievements of H2O America to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Results for a quarter are not indicative of results for a full year due to seasonality and other factors. In addition, actual results, performance or achievements are subject to other risks and uncertainties that relate more broadly to our overall business, including those more fully described in our filings with the SEC, including our most recent reports on Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements are not guarantees of future performance, and speak only as of the date made, and H2O America undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
Contacts:
Media:
Investors:
Daniel J. Meaney
Director of Investor Releations
(860) 664-6016
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/30b1f128-b23c-4c88-bad9-7f90ab2a0585
