Moving From Intentions To Positive Water Action
By Emilio Tenuta
How monitoring facility water use can help corporations bridge the gap between water intentions and results
When it comes to risks, organizations have no shortage of options to consider. From climate change to increasing scrutiny and expectations from consumers to complications from the COVID-19 pandemic, businesses are balancing a lot. So, why should they make the time to focus on water?
Water stress and the impacts of climate change are some of today’s most pressing
issues for individuals and organizations alike. And while our world’s water supply is finite, human need and use continues to increase. The World Resources Institute projects that if we continue on our current path, demand for freshwater will outstrip supply by 56 percent by 2030. That’s an increase from the United Nations’ initial projection of a 40 percent gap by that time.
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With nearly a half its land lying below sea level, the Netherlands knows a lot about water and how to make sure a city’s infrastructure is resilient to it, particularly flood risks and freshwater supply. Arcadis, a Dutch engineering firm, is applying that knowledge to cities around the world by creating infrastructures with sustainability at the forefront, such as water recycling facilities inside manufacturing companies in Mexico.
While a growing number of companies such as Arcadis are creating solutions and investing in ways to combat climate change issues, there s still untapped potential for water investment, according to industry experts participating in the recent GreenFin virtual event.
World Water Day was March 22nd, and we’re marking the occasion by looking at the looming threat of water scarcity and the lack of investor appetite for financing water-related projects. According to the United Nations, 2.2 billion people globally lack safely managed drinking water, and 4.2 billion people do not have safely managed sanitation. The U.N. also warns that water scarcity could displace 700 million people by 2030. Access to clean water has become even more vital with COVID-19, which created a worldwide need for constant hand-washing.
Water management is a risk for companies, too. S&P Global Trucost data shows that more than half of companies’ water usage comes from supply chains, so even companies operating in water-abundant regions can be affected by scarcity given the global nature of suppliers.