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Global water report: Three-fold rise in companies excelling in water management
07 Nov 2017
by South Pole Groupin News
The annual Global Water Report published by CDP (the non-profit global environmental disclosure platform) today finds a 193% increase in water leadership as 73 companies make the CDP Water A List, up from 25 last year. Top performers include Bridgestone, Burberry, Kellogg's, Sanofi and Woolworths.
A Turning Tide: tracking corporate action on water security analyses water data from 742 of the world's largest companies including Nestle, Burberry and Kellogg's and finds escalating boardroom engagement in water issues. Other key findings of the report included:
Companies committed to US$23.4 billion of investment in water projects in 2017 such as desalination plants, reclaiming waste water or improved irrigation to avoid droughts - across 1,000 projects in 91 countries.
The energy sector continues to be the biggest laggard, 101 out of the 138 energy companies asked to disclose failed to do so. Exxon Mobil and Royal Dutch Shell are among those companies persistently failing to reveal water data to investors via CDP.
7% of companies including Diageo (UK), Colgate Palmolive (USA) and Nestle (Switzerland) are now putting a higher price on water internally to reflect its increasing business cost.
Renat Heuberger, CEO, South Pole Group, CDP's water scoring partner, said: "From Bangladesh to Peru and the US, climate risks - and in particular water risks - have been very real in 2017. From storms to droughts, and floods to forest fires, the damage has been enormous. It is, therefore, encouraging to see a growing number of water leaders coming to the fore. South Pole Group believes companies need to continue to improve their understanding, management, and transparency of water risks, in order to help inform better decision making. Together with CDP, we are committed to delivering a water-secure world."
A Turning Tide: Tracking corporate action on water security is launched today at CDP's Water Forum taking place in the India Bulls Finance Centre, Mumbai. The full report can be found at the CDP website.
