In the CDP Water Disclosure Report of 2011, which surveyed 354 financial institutions with assets of USD 43 trillion, a majority of businesses stated that they face water-related risk presently, and over one-third already suffered impacts with associated financial costs as high as USD 200 million. Two in three surveyed responded that they predict potential setbacks and risks within the next five years. Clearly, water is a big issue for business today and it goes far beyond their Corporate Social Responsibility (CSR) obligations.
That is why leadership from numerous companies are present in Stockholm to discuss strategies to reduce risk; shrink their footprint and create a sustainable future for their operations.
The past five years has seen an emergence of global-level discussions and the formation of major public-private initiatives like the UN Global Water Compact CEO Water Mandate, which has been endorsed by CEOs from over 80 major companies. Dozens of new tools have been developed to aid companies and investors in understanding water risks and how to mitigate them. Yet, according to the organisers of the World Water Week event Lessons from Public-Private-Civil Society Partnerships to Address Shared Water Risk, “despite much activity and hype, genuine action by the private sector to help address water risks is still rare”.
Connections between water and climate change remain even less explored. How are companies preparing for a more variable climate? The private sector is concerned with water risks, but what are they actually doing about it and are they responding fast enough?
Angles to take:
- What are the latest tools and insights from business and industry on water risks?
- New initiatives, like the CEO Water Mandate Guide to Collective Action, will be launched at the Week: How will they help?
- Corporate water footprints are complex – what are the essential components that every business needs to know?
- Water has a huge impact on the energy sector, how are they working to managing water impacts and risks?
- What are the risks and opportunities to business posed by climate change?
- How are companies working to increase efficiency throughout their supply chain?