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Outdated approach to water raises immediate risks
Released on 31 October 2013, the CDP Global Water Report 2013 establishes that a misguided approach to water-related risk management has become business as usual at the world’s largest global companies. Corporate focus is too often directed at reducing water use, which is an inadequate response to increasingly immediate substantive water risks, threatening shareholder value.
© Wolfgang Dirscherl / pixelio.de
Bonn, 6 November 2013 - Water stewardship is the solution to achieving water security, one of the most pressing issues facing the world today. A significant step change, however, is required if stewardship is to be achieved. CDP, formerly known as the Carbon Disclosure Project, is calling on investors to take a leading role in guiding companies on this issue.This new report, written by Deloitte, is based on data provided to CDP by 180 companies listed on the FTSE Global 500 Equity Index at the request of 530 investors representing US$57 trillion.
Companies that use CDP’s water program for reducing risks and capitalizing on opportunities relating to water and are analyzed as part of the report include BP, Bayer, Lockheed Martin, General Motors, Nestle, Wal-Mart and Unilever. Titled "A need for a step change in water risk management", the key findings are:
- Water presents substantial risk threatening profitability and shareholder security, primarily in the energy, materials and consumer staples sectors.
- Water risks are increasingly immediate.
- Corporates wrongly believe that water usage is the primary risk driver.
- Low level of strategic planning or corporate ambition on key water stewardship metrics raises risk level.
The CDP Global Water Report 2013 is available free of charge on the CDP website, where the publicly available individual company water disclosures can also be found. You can also find the full article there.
About CDP
CDP is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP works with market forces, including 722 institutional investors with assets of US$ 87 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them. CDP now holds the largest collection globally of primary climate change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions.