Corporate Water Management Becomes World Issue

With the support of many of the world’s financial institutions, CDP Water Disclosure has asked more than 300 of the largest global companies to report for the first time on water use and other water-related issues, to increase the availability of high quality business information and raise awareness of water-related risk.

CDP, an independent not-for-profit organization, has emerged as the premier global scorekeeper on carbon emissions gathering primary corporate climate change information from thousands of businesses around the world so that it can be incorporated into business and policy decision making. With the launch of CDP Water Disclosure last November, the organization is using the same established system in order to tackle the increasingly vital issue of water scarcity.

Paul Simpson, chief operating officer at CDP said: “CDP has long been a key system through which investors and businesses can evaluate companies’ ability to tackle climate change. Much of the impact of climate change will be felt through water and as we face increasingly scarce water resources, we can now provide the same system to highlight companies’ ability to operate in a water-constrained world.”

137 financial institutions globally with a combined $16 trillion in assets, including Allianz Group, CalSTRS, HSBC, ING, Mitsubishi UFJ Financial Group (MUFG) and National Australia Bank, have signed the request for information, asking companies to measure and disclose information on their water usage, the risks and opportunities in their own operations and supply chains, as well as water management and improvement plans. The questionnaire results will be made available to investors that have requested disclosure and summarised in an annual report, the first of which will be produced in the last quarter of 2010.

Companies within the Global 500 that have been asked to report this year are in water-intensive sectors such as Automotive, Construction, Electric Utilities, Fast Moving Consumer Goods (FMCGs), Food and Beverage, Mining, Oil and Gas, and Pharmaceuticals.

So it looks as though the conservation of our water and how the largest users of water (corporations) are starting to have more transparency in the way they use this vital resource. We applaud the CDP and hope that their efforts at protecting our natural resources are fully backed by the corporations and governments.

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