World Water Day and the Circular Water Economy with Ralph Exton of WEF

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Value of Water: cost of inaction versus ROI

Ralph summarizes the Value of Water findings, a $1.8T U.S. funding gap and $2.5M economic growth per $1M invested.

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Episode notes

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin interviews Ralph Exton, Executive Director of the Water Environment Federation, about World Water Day, March 22nd, and the importance of water governance. WEF is a UN Water Partner, focusing on water access and gender equality. Justin and Ralph discuss the Value of Water Campaign and the Circular Water Economy. Ralph mentions other water organizations that the WEF promotes and supports. They discuss how water governance is a board-level issue, along with cybersecurity and financial risk. They explore ways organizations can participate in World Water Day.

Listen for ideas on elevating water governance in your organization.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:14] Public registration is open for RISKWORLD 2026, which will be held from May 3rd through 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register.

[:27] About this episode of RIMScast. We will be joined by Water Environment Federation Executive Director Ralph Exton. He's here to talk about the circular water economy ahead of March 22nd, which is World Water Day. This is probably my favorite topic! But first…

[:59] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep Course will be on April 21st and 22nd, and then again on June 9th and 10th. Registration links are in this episode's notes.

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[2:05] On with the Show! Our topic is water risk management, and we are joined by the Executive Director of the Water Environment Federation, Mr. Ralph Exton. He has decades of professional experience with water risk.

[2:19] He is here to discuss what the Water Environment Federation refers to as the Circular Water Economy, WEF's Value of Water Campaign, responsible water risk management, and World Water Day 2026, which emphasizes water access and gender equality. Let's get to it!

[2:40] Interview! Ralph Exton, welcome to RIMScast!

[2:48] Ralph Exton, Executive Director of the Water Environment Federation, joins us for this World Water Day episode of RIMScast.

[3:29] Ralph Exton's career started with water. As a newly graduated mechanical engineer, his first assignment was to manage and supervise the water operations at an industrial facility. He says he had no idea what he was doing. He had wanted to work on robots.

[4:57] Ralph says it did not take long. Once you understand how important water is to an industrial operation, you realize how important water quality is to the environment. Everyone knows how important water is from a personal standpoint.

[5:28] When you understand those bigger factors, it becomes inherent in the way you think about your job and career. Ralph tells people, once you get your hands wet in water, they'll never be dry.

[5:55] Ralph's entire career has been water. The early part of the career was operational and industrial. Then he worked for water technology companies, and eventually for the largest water technology and servicing companies in the world. He lists some of the global companies.

[6:37] Ralph says that a couple of years ago, he was at a point in his career where he wanted to give back more and be more directly focused on the impact he could have on water and the environment.

[6:52] Ralph had spent a lot of time with the Water Environment Federation as a customer, a volunteer, and a board member. All those things throughout his career helped him considerably. It's such an important organization for making connections in the water sector and for learning.

[7:24] Ralph says that when the opportunity came up to be part of the organization that has been so important to his career for all those years, he jumped at it and was fortunate to be selected for this position. Ralph joined WEF in mid-2024.

[7:47] Ralph says he is thrilled with the opportunity for direct contributions to water and the environment. It has been fantastic. The organization has always done super important things. He gets to be a part of making those things a reality now, and it's great.

[8:17] World Water Day, March 22nd, is a big day for Ralph and for the WEF. This year, it emphasizes water access and gender equality. WEF is a strong supporter of water access, criminal justice, and gender equality. WEF is very proud to be a UN Water Partner.

[9:06] Access to clean water and sanitation is directly correlated with a higher level of education, gender equality, and economic stability. If you have one, you're going to get the other.

[9:24] In particular, ready access to clean water and toilets is crucial for women, especially at school age. If women aren't carting water all day long, they have more hours to spend with access to schooling and to join the workforce.

[9:51] Ralph says there's also a very high correlation between women in the workforce and economic well-being, not only of the family, but also economic well-being within the regional and national economies. The theme for this year's Water Day ties it all together.

[10:42] This is core to some of the work WEF does. WEF has a program called Charities of Choice.

[10:54] WEF supports and promotes several not-for-profit organizations that focus on philanthropic and charity work, domestically and in developing countries, that provide services that ensure that the water environment is enhanced or preserved and public health is protected.

[11:20] Ralph shares a couple of examples. Global Water Stewardship works to resolve sanitation issues in the developing world by educating people and engineering sustainable centralized solutions that keep waterways clean and communities healthy.

[11:38] Water for People is an international nonprofit based in Denver, Colorado. Their goal is to bring water, sanitation, and hygiene services to everyone and to make the solutions last.

[11:55] Engineers Without Borders builds a better world through engineering, through projects that empower communities to meet their basic human needs and equip leaders to solve some of the world's most pressing water challenges.

[12:14] Operators Without Borders looks to provide certified volunteer water and wastewater operators who can support utilities in developing countries, following emergency or disaster situations, to ensure that safe drinking water and wastewater services are resumed quickly.

[12:48] Ralph says WEF largely provides a platform and access to tens of thousands of people around the world who are part of WEF membership. WEF also has grants for water-related emergencies.

[13:42] Ralph says volunteer work is probably the biggest thing people can do to help. Making donations to any of these organizations is super important. Feet on the street is a big cost component of this work.

[14:10] The other cost component is training. If you send people to a location to solve a problem, and then they leave and don't provide training to the community, the solution won't last. Volunteers participating in some of these projects are a big help in making projects sustainable.

[15:06] Ralph says you can provide someone a meal, or you can teach them how to grow that meal. There are short-term and long-term aspects. Long-term, you have to make sure they have the infrastructure, training, knowledge, and resources to provide for themselves.

[15:51] The Value of Water campaign highlights the state-by-state economic benefits of investing in water infrastructure. The campaign is a coalition of the U.S. Water Alliance, the WEF, and other organizations. The WEF is on the Value of Water campaign steering committee.

[16:27] We're at a pivotal moment regarding water infrastructure. A recent study was on the U.S. water infrastructure, but the issue is global.

[16:46] The U.S. water infrastructure gets scored every couple of years on an A through F system. We don't score very well. The recent research has a powerful message. The funding gap is $1.8 trillion in water infrastructure between now and 2044.

[17:30] Ralph says that's an opportunity. The latest report from the Value of Water campaign shows what's possible if we invest in water. Every $1 million directed towards water infrastructure generates $2.5 million in economic growth. There is a return on this investment.

[18:13] That kind of return builds stronger communities. It creates meaningful jobs and helps drive innovation.

[18:26] The report identifies that implementing circular water principles is going to be key. These strategies help transform linear systems into regenerative systems, where water is reduced and recovered, and constituents can be pulled from the water and recovered.

[19:00] WEF is committing to advancing this approach as they help to shape a resilient and inclusive future.

[19:14] The 2025 Value of Water Campaign Report is publicly available. The link is in this episode's show notes.

[19:36] A Quick Break! RIMS is once again supporting the FERMA Global Risk Manager Survey 2026.

[19:47] Now in its second consecutive global edition, the survey, led by FERMA, brings together insights from Europe, the U.S., Latin America, Asia Pacific, and Africa, offering an international perspective on how the risk management profession is evolving.

[20:03] Surveys are anonymous, and the final report is free. The deadline to participate is March 31st. A link is in this episode's show notes.

[20:12] RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them.

[20:29] Booth sales are open now. General registration and speaker registration are also open right now. Marketplace and hospitality badges are now available. Links are in this episode's show notes, and be sure to check out RIMS.org for more information.

[20:48] The Second Annual RIMS Texas Regional Conference will be held in San Antonio from August 10th through August 12th.

[20:55] The call for submissions for educational sessions is open through March 18th. Check out the link in this episode's show notes and make a pitch! Hopefully, you get selected, and we see you in San Antonio!

[21:07] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information.

[21:26] Let's Return to Our Interview with Water Environment Federation Executive Director Ralph Exton!

[21:44] Justin says Henk Ovink, Special Envoy for International Water Affairs for the Kingdom of the Netherlands, has twice been a RIMScast guest to cover World Water Day. Ralph and Henk work in the same circles and have crossed paths.

[22:19] In Justin's first interview with Henk Ovink, Mr. Ovink pointed out how Heineken was one of the first companies to use its industrial sludge as an energy source to keep its plants going. Ralph says plenty of companies now are pillars of the Circular Water Economy.

[23:08] Ralph says, if you recover energy, nutrients, and valuable metals from waste, as opposed to burying it in a landfill, you unlock a lot of economic opportunities that way.

[23:40] The waste that's generated at many waste treatment plants can be converted into enough fuel to power all the pumps and equipment that's needed to treat the water itself. You create a microeconomic opportunity right there that doesn't rely on electricity from the grid.

[24:06] Ralph says it has become a growing scenario. WEF is trying to do its part to promote as many of those opportunities as it can. They give out several awards every year for Utilities of the Future that are doing this type of thing. WEF highlights these companies at annual events.

[24:44] The more organizations, whether utilities or industries, that do this, not only does it help the environment, but it also creates economic opportunities.

[24:56] There will always be byproducts and sidestreams that come off of these processes, by which you can generate economies around them, whether you're extracting a nutrient from waste or pulling energy from that waste.

[25:18] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period will open on April 1st, 2026, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September.

[25:42] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July.

[25:57] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th.

[26:09] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information.

[26:18] Let's Conclude Our Interview with Water Environment Federation Executive Director Ralph Exton.

[26:56] Ralph says the notion of circularity started with the Ellen MacArthur Foundation. They're about building economies around implementing circular processes. The WEF is focused on circularity in terms of water. They refer to it as the Circular Water Economy.

[27:42] The WEF leads the way for the public and private sectors to optimize and recover valuable resources from water and wastewater in ways that help fight climate change, support equitable economic development, and ensure water access. This is the Circular Water Economy.

[28:26] The circular water economy practices help keep products and materials in use. They regenerate natural systems and design out waste and pollution from the equation. The model helps to build a just and sustainable society. The WEF is working to lead that.

[28:42] There are three core principles of the Circular Water Economy.

[28:45] These are: 1. Reduce. Minimize water usage and waste through efficient practices. 2. Recover. Extract valuable resources from wastewater. 3. Regenerate. Restore natural ecosystems. Recharge aquifers through sustainable water management practices.

[29:13] The benefits of following those core principles include reducing water pollution, preserving ecosystems, lowering water treatment and extraction costs, supporting green jobs, and enhancing water security with equitable access to water resources.

[30:18] The WEF did a report last year on the economic opportunities that can be unlocked by implementing Circular Water principles. A link is in this episode's show notes.

[30:39] The WEF started the Circular Water Economy with the principles of circularity and circular economies, with a focused effort on water. The WEF felt that between water and waste, they could churn out a lot of economic opportunity with a focus on the sector they support.

[31:14] The WEF believes that the Circular Water Economy will make the biggest impact in the next five years. It's one of their three core strategic pillars.

[31:32] March 22nd is World Water Day. This episode is coming out six days ahead. People have time to participate in local World Water Day activities, volunteer, or donate.

[32:03] Ralph says the most important reminder he can give the RIMScast audience is that water is more than an enterprise or utility risk; it's a human risk. When water systems fail, other things fail. Operations fail, supply chains fail, and workforce stability is disrupted. Public trust is ruined.

[32:50] Ralph says women, families, and communities absorb that impact first, which has direct economic consequences.

[33:00] The most resilient organizations elevate water subjects to the boardroom, treating it with the same rigor as they would cybersecurity. Water needs to be at the same level as cybersecurity and financial risks.

[33:20] Water governance is no longer optional; it's foundational to resilience and equality. The theme of World Water Day this year speaks to that.

[33:41] Justin says there are so many ways for RIMS and WEF to collaborate. Justin looks forward to getting Ralph on a webinar about water management. Justin thanks Ralph for informing our audience about World Water Day and why water risk management is central.

[34:16] Special thanks again to Ralph Exton, Executive Director of the Water Environment Federation, for joining us here today on RIMScast. I've got links to WEF.org and the Circular Water Economy in this episode's show notes.

[34:31] Be sure to check out the links in this episode's show notes for prior RIMScast coverage of water risk and World Water Day. Remember that World Water Day is observed globally on Sunday, March 22nd, 2026. Everyone deserves access to clean water.

[34:50] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes.

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[36:11] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[36:25] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org.

[36:38] Practice good risk management, stay safe, and thank you again for your continuous support!

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