Water – its use and the impact of constraints – are now a boardroom issue, according to the Carbon Disclosure Project (CDP), which launches a new water disclosure report and programme today.
CDP Water Disclosure asked over 300 of the world’s largest companies to provide information on their water use and water-related business issues.
Water is already impacting businesses, according to the report analysing those responses by Environmental Resource Management (ERM).
Nearly all of those that responded – which was around half of those contacted – have already identified whether they are exposed to water risk or not.
Just under 40% of companies reported that they are already experiencing detrimental impacts from drought or flooding, declining water quality, increasing in water prices or fines and litigation arising from pollution incidents.
Water efficiency and security is now on the radar at a majority of companies, with nearly 90% already having water policies, strategies and plans and 60% having set water-related performance targets.
But nearly two-thirds of companies are also finding opportunities in water-related businesses such as water management, water efficiency and reduction and wastewater treatment.
The CDP Water Disclosure’s first report singles out Anglo American, Colgate-Palmolive, Ford, GE, PG&E and Taiwan Semiconductor Manufacturing as showing some of the best practice in water management.
“This data provides valuable insight into the strategies deployed by many of the largest companies in the world in relation to water and is a first step in helping drive investment towards sustainable water use,” says Paul Dickinson, executive chairman at the Carbon Disclosure Project.