Corporate Water Strategy Now and a New Global Water Tool

Corporations around the globe are slowly being forced to adapt to water availability concerns and develop water strategies to manage risks and opportunities. A great little primer titled “At the Crest of a Wave: A Proactive Approach to Corporate Water Strategy” presents a 21st century corporate water strategy. Thanks Kristen for the forward!

This report develops a two-phase strategy. Phase I involves a strategic assessment of current water-related business risks in three steps.

Step 1: Conduct a Comprehensive “Water Footprint” Assessment
Step 2: Identify and Evaluate Water-Related Risks
Step 3: Prioritize Issues and Chart a Course for the Future

Once companies have gone through Phase 1 they are ready for Phase II

Step 1. Identify process and product innovations
Step 2. Invest in water-related environmental services
Step 3. Integrate corporate goals with policy advocacy and multi-stakeholder initiatives

Download this new Trends Report at Good stuff.

In other business news this week, the Global Water Tool, launched at World Water Week 2007 in Stockholm, allows companies to look at some broad stroke water questions, such as how many of our sites are in extremely water-scarce areas? Dow, Pepsi, Alcan, and Shell are all companies that have used this tool to assess risks to their supply chains.

According to the press release this week, the tool allows companies:

  • Compare their water use (including staff presence, industrial use and supply chain)with validated water and sanitation availability information, both on a country and watershed basis;
  • Calculate water consumption and efficiency; Establish relative water risks in their portfolio;
  • Create key water Global Reporting Initiative (GRI) indicators, inventories, risk and performance metrics;
  • Enable effective communications between internal and external stakeholders on water issues.

The tool was developed through the World Business Council for Sustainable Development (WBCSD) which brings together 200 international companies in a shared commitment to sustainable development through economic growth, ecological balance and social progress.