Conference Establishes Key Priorities for Corporate Water Risk Management
Feb 3rd, 2015 |
Thomas Vereijken, EWP Chairman chaired the annual Corporate Water Risk Conference in London on 29th January 2015. The various presentations and panels at the conference made it clear that investors are becoming more demanding when it comes to the identification and mitigation of water related business risks. Companies currently still tend to focus on a narrow field called”footprint management’ and perceive corporate water risk as largely external to the company. However, with demand set to increase even further by 55% in 2050 (ref OECD Outlook 2050) and deteriorating water quality (OECD, Anthony Cox), companies are facing the need to expand their perspectives.
Cristina Amorim (CSO, Life Technologies) noted that the “the water conversation is changing”, referring to state of emergency cases where businesses were forced to respond. There was also a broad understanding amongst the speakers to the need for collaboration amongst water users. Paul Chandler (PRI) spoke about investors facing both portfolio risks as well as systemic risks, and here collaboration can play an important role.
Furthermore, the need for generic data amongst speakers and the audience on corporate water risk was clear. The case studies presented over the course of the day demonstrated how organisations greatly benefit from their risk management work and the diversity of the approaches available. Speakers were in agreement that using the Water Stewardship standards (EWS/AWS) would help produce verifiable results.
For a link to the presentations see here.