Executive Briefings

Corporate Water Supplies Increasingly at Risk, UN Says

A 40-percent water supply shortfall is expected globally by 2030, according to the United Nations. This means a business as usual water management strategy won’t work - and represents a $63tr risk, according to CDP.

Water crises present one of the top global risks over the next decade, according to the World Economic Forum. So how can corporations future-proof their water supply?

“With water, unlike other climate-change issues, geography is key, says Sissel Waage, director of BSR’s biodiversity and ecosystem services practice. “Understanding the specificity of hydrological and ecological systems, as well as the set of demands your company and others in the watershed and/or basin, as well as that of residential communities is essential.”

Waage said the first step companies should take to future proof their water supply is to understand the situation in their business context. “Any business would do a competitive landscape assessment. So too should companies do a water risk assessment, and not just looking at regulatory and competitive landscape issues, but even related to just flushing the toilet and other very rudimentary things.”

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Water crises present one of the top global risks over the next decade, according to the World Economic Forum. So how can corporations future-proof their water supply?

“With water, unlike other climate-change issues, geography is key, says Sissel Waage, director of BSR’s biodiversity and ecosystem services practice. “Understanding the specificity of hydrological and ecological systems, as well as the set of demands your company and others in the watershed and/or basin, as well as that of residential communities is essential.”

Waage said the first step companies should take to future proof their water supply is to understand the situation in their business context. “Any business would do a competitive landscape assessment. So too should companies do a water risk assessment, and not just looking at regulatory and competitive landscape issues, but even related to just flushing the toilet and other very rudimentary things.”

Read Full Article