Posted on July 24, 2019 by Thomas Schumann
|Last Updated||Sep 26, 2020|
Any action that involves water creates the most benefit and impact for society, environment and economy if these factors are considered: Stewardship, conservation, sustainability, responsibility, long-termism, responsible investing, stakeholder versus shareholder value. In 2010, the United Nations General Assembly recognized that water and sanitation should be a human right. Water as a human right is as much about the quality as it is about access. Sustainable Development Goal 6, one of 17 Sustainable Development Goals established by the UN in 2015 calls for clean water and sanitation for all people. Any action that involves water is best guided when it is 100% aligned with SDG 6.
Companies that appropriately mitigate water risk and focus on water security demonstrate good water stewardship characteristics, hence create value for their shareholders and stakeholders alike.
At the individual company level are three critical research steps to obtain a comprehensive picture of water risk exposure:
1) Understand Corporate Water Dependency
2) Combine Water Dependency Data with an Assessment of Water Security
3) Get a Sense of Corporate Water Risk Awareness and Response
Water is vital to beverage companies, an essential ingredient in their products, but it’s also used as a primary resource in their production processes. Diminishing water resources is a rising global challenge—and many beverage companies have recognized the vital role they play in addressing it. While many beverage companies are working hard to improve their own commitments to water stewardship, some are also working together to make a bigger difference. Sustainability leaders from nearly two dozen beverage companies—including recognizable brands such as Coca-Cola, PepsiCo and Molson Coors—are working together to further water stewardship efforts.
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This lesson learned reflects the beliefs and experiences of the author, not necessarily the Pacific Institute, CEO Water Mandate, or UN Global Compact.