AquaKredits – Unlocking water’s economic worth for the blue revolution

Mumbai: Pragati Pratishthan (pragatipratishtan.org) celebrated its Golden Jubilee Year at a glittering function at the National Sports Club of India at Worli, Mumbai. The occasion was graced by Hon’ble Shri Nitin Gadkari Ji, Union Minister for Road Transport & Highways, Govt. of India.

The movement of “Pragati” started through health centres in the remote areas of Jawahar – Mokhada, Palghar district trying to make the tribal society “Atmanirbhar” through education, agricultural development, tap water schemes, water conservation, solar energy, entrepreneurship development etc.,

Shri Nitin Gadkari ji in his address lauded the yeoman efforts of the organization and said that he has been witness to the work under the leadership of Late Vasantrao Patwardhan along with active guidance & inspiration by Smt. Sunanda Patwardhan and the impact it has created by transforming the lives of the Adivasis residing in these areas. While showering heaps of praise he also advised that moving forward one has to think out of the box and adopt newer methods and technologies in alignment with the sustainability of programs and efforts. He appreciated the concept of Digital Water Banks & Water Credits as a means of incentivising water stewardship.

Over the 50 years, the organization has implemented different types of projects in more than 300 villages in Palghar, Thane & Nashik districts, such as tap water schemes, farm ponds, check dams, agricultural development, schools for tribal children and skill development centres.

Speaking on the occasion Hon’ble Satish Marathe ji, who led  Pragati Prathishthan for over 15 years & Member of the Central Board of Directors, Reserve Bank of India said “ We are very honoured to have Shri Nitin Gadkari ji grace the golden jubilee celebrations of Pragati Pratishthan. We have been at the forefront of providing access to water in the most challenged water-stressed areas reducing the stress on women who had to walk miles to fetch water for their families. Additionally, we have provided tap water schemes and built check dams & farm ponds with the objective to bring about water adequacy. All this is done through benevolent donors and CSR. We are very happy that AqVerium – World’s 1st Digital Water Bank has recognised our efforts and is issuing AquaKredits – Water Credits for the water saved with our effort. It is a matter of sheer coincidence that AquaKredits seamlessly vindicates the message of Shri Nitin Gadkari ji to think out of the box, unlocking the economic value of Water. AquaKredits also can be a tool for CSR investments providing the much-needed accuracy in impact assessment and reporting.”

AqVerium – World’s 1st Digital Water Bank (www.aqverium.com), will onboard all the rejuvenation projects undertaken by Pragati Pratishthan and open a Digital Water Savings Bank account for each of them. The idea is to encourage water savings by all stakeholders and recognize the economic value of water. Based on the impact reported, a detailed Water Audit will be undertaken leading to a Water Balance Sheet. Water +ve projects will then be issued AquaKredits @1000 litres of water saved and stored in the Digital Water Savings Bank Account. These AquaKredits, which act as a tool for impact measurement, can then be offset by Corporates or bought by qualified individuals who wish to incentivize water savings.

Dr. Subramanya Kusnur – Founder Chairman & CEO of AquaKraft Group Ventures and creator of AqVerium addressed the audience and explained the concept of a Digital Water Bank, Water Savings Account and Water Credits. He said “ A lot of great work is being done on the ground by committed organizations like Pragati Pratishthan selflessly with an objective of augmenting the human development index. More than the money it is the effort and passion that drives organizations like these who bring about phenomenal impact which often goes unnoticed. It is our concerted effort to identify, verify & validate such initiatives and incentivise this unique water stewardship with AquaKredits that can be monetized on our platform thereby providing sustainable financing to such yeoman efforts.”