Business case for water

Abstract

As competing demands for clean, fresh water (agriculture, households, energy generation, industrial use, ecosystems) continue to rise, the effects of climate change further exacerbate the challenges associated with water quality and availability creating new risks for businesses, governments, communities and the environment. Business can contribute to the alleviation of the strain on water by becoming water stewards by adopting an economically, environmentally and socially responsible water strategy. This means adopting values and practices that aim to safeguard long-term availability of clean water for all stakeholders in a watershed, prompted by recognition of water as an externality with a potentially material business risk. Industrial water reuse and managing agriculture withdrawals are important solutions on this path. In doing so, business has to become more actively involved in water governance.