A plan to spur investment in water conservation and infrastructure in the West through public-private collaborations was announced Tuesday by federal officials.
Interior Secretary Sally Jewell said at a White House roundtable on water innovation that the department is establishing a “Natural Resource Investment Center.”
Much of the goal of the investment center will be to use the private sector to identify innovative ideas and financing options for projects aimed at conserving Western water. Ideas might focus on facilitating water transfers in the West, replacing aging infrastructure and protecting habitats and species.
“As a former CEO, I am confident the private sector can play a meaningful role in working with us to advance the goals of smart development alongside thoughtful conservation,” Jewell said in a statement. “The Natural Resource Investment Center will facilitate this effort by building on current activity to incent private investments.”
The announcement comes as Colorado has unveiled an historic plan mapping the future of water in the state. Colorado’s Water Plan aims to achieve 400,000 acre-feet of municipal and industrial water conservation by 2050. To get there, the plan encourages a shift in philosophy, including a focus on conservation.
The Colorado River – running through the Southwest – is especially important, as it fuels $1.4 trillion in economic activity and supports 16 million American jobs.
State Sen. Ellen Roberts, R-Durango, said the new investment center is a step in the right direction. Roberts has, for years, pushed for a focus on conservation.
“There is a real need to address the development of conservation technologies and water infrastructure in the Western U.S., so I welcome the spotlight and potential help to turn good ideas into reality on the ground,” Roberts said. “The private sector can bring innovation to these challenges much quicker and more effectively than if left to government alone.”
The program could empower private-sector investments in storage, pipelines and canals.
For water exchanges, the program seeks to encourage voluntary transfers, in which individuals or water districts would transfer all or a portion of their water to other water users or a government agency. Such an exchange would allow high-value agriculture and cities to maintain deliveries through scarcity.
The Conservation for Economic Growth Coalition, a group of venture capitalists and entrepreneurs focused on protecting public lands, pushed for the program and hailed Tuesday’s announcement.
The coalition has membership in Durango.
“As a venture capitalist, I am impressed by the White House’s continued efforts to leverage federal funding to attract new private investment in conservation,” said Nancy Pfund, co-chairwoman of the coalition. “Secretary Sally Jewell’s Natural Resources Investment Center encourages new approaches to closing the gap between water supply and demand in the West – addressing drought while restoring our rivers and protecting recreational opportunities and wildlife habitat in the process.”
pmarcus@durangoherald.com
