Water affects industries’ bottom lines. Water shortages, extreme weather events and climate change mean that industries must choose how rather than if they improve their resilience and the sustainability of their water use. Managing water better is an opportunity for industry to strengthen competitiveness and attract investments. At the same time this secures their license to operate, reduces financial losses and altogether ensures business continuity while delivering social value.
Reducing water-related risks in the face of extreme weather events and climate change is key to ensuring business continuity and protecting commercial and financial viability. Industries which are actively seeking solutions are successfully building resilience whilst embracing the opportunities that improved management of water processes and supply chain can deliver.
According to the World Economic Forum Global Risks Report 2020, four environmental risks dominate the top 5 global risks in terms of likelihood and impact: climate action failure; extreme weather events; water crises and natural disasters.
Water is essential to human life but also to the operation and success of industry, affecting bottom lines, investment and development decisions. Whilst industry has a responsibility to the world’s population to manage its water use, it also has one to shareholders, investors and employees. Better understanding of water-related risk and improved mitigation measures and contingency plans are vital to the long-term success of their operations.
By integrating sustainable use of water into their processes and decision making, industry has not only the opportunity to meet increasingly stringent regulations but to move beyond compliance and unlock the economic potential of better water efficiency.
To manage risks and reduce business disruption caused by extreme weather and climate change, industries must choose how, not if, they integrate water-risk mitigation measures throughout their operation.
Increasing competition for water demands immediate action, and a step change in the way that companies manage water. Alongside this, investors are paying closer attention to water, for example by asking for disclosure of climate related risks.
Water is essential to business operations but its management must be understood within its wider context. Good water stewardship allows businesses to balance and forecast their water needs and the needs of communities and the natural world.
As increasing numbers of industries face challenges around quality and quantity of available water, the economic and social pressure to improve water stewardship is growing. Industry must see this need as an opportunity not merely a matter of compliance.
We partner with industries to identify potential for water saving and material recovery options at site level, and by assessing water vulnerability at catchment level. Successful water stewards understand shared concerns on water balance and water quality. By aligning company-wide decision making with sustainable water use industries can minimize business disruption and help secure themselves, and their catchment area neighbors, a more resilient future.