Water sector regulator Ofwat has written an open letter to investors setting out its intention to seek greater engagement with the investor community.
The letter, which is jointly signed by Jonson Cox, CBE, Ofwat Chair and Rachel Fletcher, Chief Executive begins by saying:
“The investor community has a huge part to play in advancing our strategic goals for the industry; not just in terms of financing the investment that is needed but also in using your expertise and influence to drive improvements across the sector.”
It goes on to explain that the opportunity for the water sector to generate economic growth, environmental improvements and to support local communities including the most vulnerable in society has only increased in the last few months. The sector has also continued to come under scrutiny over several issues, including dividend payments and leakage targets, and Ofwat is “looking to everyone in the sector to play a role in meeting these external challenges.”
Ofwat’s board and leadership want to listen to investors actively, understand their concerns and draw on their expertise, the letter says - and the regulator now plans to increase its engagement with the community. Ofwat also likewise wants investors to understand and connect with its strategic goals, and to be a positive force in achieving them.
The letter says:
“We all operate in a sector that is deeply connected to and reliant on the natural world and integrated into every community in England and Wales. This is a huge responsibility; however, it also presents an opportunity for water companies to become exemplars in responsible capitalism, delivering on the benefits of the ESG agenda.”
Ofwat is inviting investors to email This e-mail address is being protected from spambots. You need JavaScript enabled to view it to register their interest in attending a series of roundtables the regulator plans to hold in coming months on its strategic objectives for the sector.
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