Companies Fail to Focus on Water-related Risks: Report

Mar 19th, 2014 | By | Category: India, Opinion, Water

Times News Network: While most companies in India are aware of increasing water-related risks, actions to manage water issues at a corporate level are inadequate. More than half of Indian companies have a water policy, strategy or management plan in place, but only half of these policies include concrete quantitative goals or targets for water resource management, says a report brought out jointly by Grundfos India and CDP, an international, not-for-profit organisation which manages and shares environmental information.

“Most of the companies are focusing only on direct operations, while serious water-related risks might lie in the supply chain. Around 60% of the companies analyzing water-related risks are doing that only at facility or business unit level. Similarly, 56% of all the water-related goals and targets are focused on direct operations,” the report, titled ‘The Business Case for Water Disclosure in India,’ said.

The report, prepared by CDP and KPMG, aims at promoting water stewardship and reporting among the corporate community in the country.

“The availability and quality of water pose a challenge to businesses and communities in India like many parts of world. Both the UN and Intergovernmental Panel on Climate Change (IPCC) have warned of increasing water stress in large parts of the world. These factors will limit economic development and greatly exacerbate rural poverty, particularly in emerging and developing economies,” Damandeep Singh, director, CDP India, said .

“Businesses, as well as nations, need to prepare and work towards safeguarding this vital resource which is already becoming as expensive as oil in some parts of the world. The introduction of CDP’s water programme in India in 2015 will address this information gap by driving companies to measure, monitor and ultimately manage water-related risks,” he added.

According to the report, India faces an impending water crisis as it moves on to the 21st century with the potential to stifle economic growth.

An increasing number of stakeholders are calling for transparent and comparable disclosure of water-related information from Indian companies for consideration in decision making, but Indian businesses are currently underestimating water-related risks due to a lack of effective measurement and monitoring, according to the report.

“The process of water disclosure helps businesses and institutional investors to better understand the risks and opportunities associated with water scarcity and other water-related issues while promoting water stewardship and delivering insight that enables companies to take intelligent action to manage this critical resource,” the report said. CHENNAI: While most companies in India are aware of increasing water-related risks, actions to manage water issues at a corporate level are inadequate. More than half of Indian companies have a water policy, strategy or management plan in place, but only half of these policies include concrete quantitative goals or targets for water resource management, says a report brought out jointly by Grundfos India and CDP, an international, not-for-profit organisation which manages and shares environmental information.

“Most of the companies are focusing only on direct operations, while serious water-related risks might lie in the supply chain. Around 60% of the companies analyzing water-related risks are doing that only at facility or business unit level. Similarly, 56% of all the water-related goals and targets are focused on direct operations,” the report, titled ‘The Business Case for Water Disclosure in India,’ said.

The report, prepared by CDP and KPMG, aims at promoting water stewardship and reporting among the corporate community in the country.

“The availability and quality of water pose a challenge to businesses and communities in India like many parts of world. Both the UN and Intergovernmental Panel on Climate Change (IPCC) have warned of increasing water stress in large parts of the world. These factors will limit economic development and greatly exacerbate rural poverty, particularly in emerging and developing economies,” Damandeep Singh, director, CDP India, said .

“Businesses, as well as nations, need to prepare and work towards safeguarding this vital resource which is already becoming as expensive as oil in some parts of the world. The introduction of CDP’s water programme in India in 2015 will address this information gap by driving companies to measure, monitor and ultimately manage water-related risks,” he added.

According to the report, India faces an impending water crisis as it moves on to the 21st century with the potential to stifle economic growth.

An increasing number of stakeholders are calling for transparent and comparable disclosure of water-related information from Indian companies for consideration in decision making, but Indian businesses are currently underestimating water-related risks due to a lack of effective measurement and monitoring, according to the report.

“The process of water disclosure helps businesses and institutional investors to better understand the risks and opportunities associated with water scarcity and other water-related issues while promoting water stewardship and delivering insight that enables companies to take intelligent action to manage this critical resource,” the report said.

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