Inditex and Meeting at Davos

Pablo Isla, Inditex’s chairman and chief executive officer, this week reaffirmed his company’s commitment to, a global organization whose mission is to bring safe water and sanitation to millions around the world.

The reaffirmation came at a meeting Wednesday with’s cofounders Matt Damon and Gary White against the backdrop of the annual World Economic Forum this week in Davos, Switzerland. Inditex in late 2015 provided an initial 3.7 million euros, or nearly $3.5 million at the average exchange rate for 2015, to support projects in Bangladesh and Cambodia to help improve the health of over 160,000 individuals. The private meeting occurred after a Davos roundtable event addressing the global water crisis, where Isla was a participant. Attendees at the roundtable included ceos from 20 top-tier international firms and global organizations.

Isla said, “ is a hugely effective vehicle to deliver change around the critical issue of water management, particularly in vulnerable regions. This is an issue to which we ascribe huge importance and the work carried out by is admirable.”

In the past year that the two have worked together, they’ve started WaterCredit, which provides small affordable and repayable loans to help implement household water and sanitation solutions.

Inditex as a company has a Global Water Management Strategy that serves as its roadmap for collaboration with its partners, such as suppliers, customers and governments, for better conservation of the planet’s freshwater and marine ecosystems.

Inditex is also a member of the Joint Roadmap to ZDHC and, along with other leading fashion brands and retailers, is working toward achieving zero discharge of undesired chemical substances by 2020. Further, Inditex has committed to foster sustainable water management across the six areas covered by the CEO Water Mandate, a part of the United Nations’ Global Compact initiative. Those six areas are: Direct operations; supply chain and watershed management; collective action; public policy; community engagement, and transparency.