Water and its uses and constraints are now a boardroom issue, according to the Carbon Disclosure Project.
The not-for-profit organization, which holds the largest database of primary corporate climate change information in the world, asked over 300 of the world’s largest companies to provide information on their water use and water-related business issues.
And just under 40% reported that they are already experiencing detrimental impacts from drought or flooding, declining water quality, increasing water prices or fines and litigation arising from pollution incidents.
Water efficiency and security is now on the radar of most companies, with nearly 90% already having water policies, strategies and plans and 60% having set water-related performance targets.
But nearly two-thirds of firms are also finding opportunities in water-related businesses such as water management, water efficiency and reduction and wastewater treatment.
“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,” said Paul Dickinson, executive chairman at the Carbon Disclosure Project.
The Carbon Disclosure Project launched in 2000 to provide a climate change database to inform business, policy and investment decisions and it now runs the only global climate change reporting system.