Water Sector Action for Governance and Business Efficiency

Mission

Enhance user service, improve governance, and increase efficiency in the water sector in Colombia

Goals

The Water Sector Action for Governance and Business Efficiency is a voluntary initiative with self-regulatory characteristics that was signed in 2019 by the 12 most representative companies in the sector, providing drinking water to 18 million Colombians. It is one of the milestones in the transformation of the water and sanitation sector in Colombia. The aim of this initiative is to enhance user service, improve governance, and increase efficiency.

The initiative operates under the principle that effective governance and efficient management are essential to raise standards within the sector, develop self-regulatory practices, and foster sustainable development.

Activities

ts members subscribe to the initiative’s eight commitments:

1. Adopt, strengthen, and develop strategies and projects that promote effective corporate governance on a permanent basis.
2. Maintain a culture of decision-making based on business accountability and institutional standards.
3. Promote responsible exercise of property rights.
4. Strengthen boards of directors by adopting good practices.
5. Manage sustainable and responsible relationships with your stakeholders.
6. Manage the internal control system so that utilities are safer, more reliable, and prudently managed.
7. Promote a culture of integrity, transparency and accountability.
8. Share knowledge and promote innovation in the search for business efficiency.

Since its foundation, the initiative has been actively involved in various activities aimed at promoting good governance practices and enhancing operational efficiency in the water sector. These activities include:

• Conducting research and analysis to identify key issues and opportunities within the water sector;
• Creating mechanisms that facilitate the exchange of information within the initiative’s website;
• Evaluating the compliance with commitments based on 34 indicators (each member reports compliance with the indicators through the initiative’s intranet);
• Documenting the entire process, lessons learned, and exchanging knowledge between member organisations on a monthly basis;
• Collaborating with relevant stakeholders, including government agencies to foster dialogue and regulatory measures that prioritise sustainability, equity, and transparency in water governance;
• Providing capacity-building workshops, training sessions, and educational programs to empower member organisations;
• Carring out benchmarking between companies based on the results of the AquaRating evaluation