Million Communication Devices

Itron has delivered over 200 million communication devices


Billion Dollars

in 2020 revenue


Water Endpoints

In North America, Itron has installed 18,000 water endpoints and 10,700 leak sensors, which helped identify over 1,500 gallons per minute of service link leaks

View Our Analysis

The Path to Drawdown:  Water Distribution Efficiency

Water utilities are among the largest consumers of electricity globally, accounting for about 1% of total electricity use in the world. Up to 80% of that energy is used for pumping water alone. But ~35% of that water is wasted in the distribution network through pipe leakage, meter error, and unauthorized consumption. This dramatically reduces the supply of water over time and produces unnecessary emissions.

Water efficiency solutions can minimize this leakage. Two major solutions are pressure management and active leak detection. Pressure management involves installing pressure valves at water inlets and outlets to better monitor water flow and pressures, and leads to reductions in pipe bursts and leaks. Addressing leaks takes financial investment, but it’s the cheapest way to source new supply, serve growing urban populations, and reduce emissions.

Project Drawdown estimates that, if 38-47% of the global water distribution network can adopt pressure management and leak detection solutions, they can reduce CO2e emissions by 0.66 - 0.94 gigatons between 2020 and 2050. That’s an emissions reduction equivalent to taking close to 204.5 million passenger vehicles off the road for one year.

What We Want to See Improve

Stop Enabling Gas Utilities

About a quarter of Itron’s sales revenue comes from selling hardware and software products to gas utilities. While we acknowledge that a more efficient use of gas by utilities and consumers is an economic win, enabling these companies is a loss from the sustainability perspective. We would like Itron to wind down their gas market, and instead focus on their customers in the electricity and water markets.

Transition Completely to Clean Energy

About a quarter of Itron’s energy use comes from nuclear and renewable sources. Their direct and indirect energy use still relies heavily on natural gas, fuel oil, propane, and non-renewable electricity. We urge Itron to transition completely to clean energy as soon as possible so as to reduce their scope 1 and 2 emissions.

Set Targets for Absolute Emissions Reductions

While we are encouraged by Itron’s plan to set emissions targets in the coming years, they haven’t discussed what these targets would look like. We urge them to steer clear of commitments to reduce emissions intensity, which is a relative measure and doesn’t necessary mean genuine cuts, and instead set targets for absolute reductions.

Related Water Conservation Stocks in the Climate Index

View All Climate Index Stocks →

Allocated Company Description


Xylem (XYL)

Xylem offers solutions that help customers use water more efficiently and intelligently. Efficient water distribution conserves energy and cuts emissions


Watts Water Technologies, Inc. (WTS)

Watts Water Technologies conserves the flow of water and energy in residential and commercial buildings. Water distribution efficiency helps cut emissions


Itron (ITRI)

Itron makes control devices that measure and analyze electricity, gas and water consumption. Efficient water distribution can cut energy use and emissions


Badger Meter (BMI)

Badger makes smart metering technologies that allow customers to measure and control water flow. Their solutions enhance water efficiency and reduce emissions


Atlas Technical Consultants, Inc. (ATCX)

Atlas offer technical services on how to better manage water resources and leak detection. Water distribution efficiency can cut emissions

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