Countries that need loans from the World Bank or the IMF must give their consent to privatize their water!
Countries that need loans from the World Bank or the IMF must give their consent to privatize their water!
How influential is the bottled water industry?
The bottled water industry is a powerful industry. Nestlé alone generated sales of approximately 3.5 billion euros in 2022.
This industry extracts groundwater, packages it, and sells it with incredible profits. The most successful man in the industry, Peter Brabeck-Letmathe, made Nestlé the world's largest bottled water supplier and turned it into a lifestyle product. Brabeck was not only deputy chairman of the world's largest cosmetics company L'Oréal and a member of the board of Exxon Mobil Corporation – the largest direct successor to John D. Rockefeller's Standard Oil – he was also chairman of the "2030 Water Resources Group", a public-private partnership of the IFC (International Finance Corporation), a sister organization of the World Bank.