OAKLAND,
California — The largest, least expensive, and most
environmentally sound source of water to meet California’s future needs is
the water currently being wasted in every sector of our economy.
That's the message of a new research paper by the Pacific Institute, a leading
nonpartisan research institute based in Oakland, California. The report
identifies a range of worrisome trends that impact businesses in almost every
sector and recommends steps that companies can take to meet these challenges
head on.
"Water scarcity and other water-related issues already pose a serious
threat to many businesses around the world," said Jason Morrison,
director of the Pacific Institute's Economic Globalization and the Environment
Program, and lead author of the report. "There are solutions, but unless
companies start taking steps to protect themselves and protect water
resources, they could find their operations in jeopardy."
The study, "Freshwater Resources: Managing the Risks Facing the Private
Sector," outlines a range of problematic trends: Growing water scarcity
in the face of skyrocketing demand and increasing competition; community
concerns about industrial water use and pollution; and potential changes in
water availability and quality stemming from climate change. Severe water
shortages can lead to supply chain interruptions, poor product quality, and
even loss of license to operate. Already, local governments have forced some
multinational companies to close major factories due to concerns about the
impacts of their water use.
"The report makes clear that to be responsible stewards of shareholder
resources, companies must become more responsible stewards of water
resources," explained Steve Lippman, senior social research analyst from
Trillium Asset Management Corporation.
Arvin Ganesan, associate social research analyst from Calvert Group Ltd.,
said, "The good news for businesses is that there are a range of steps
they can take to protect themselves while helping protect these key resources
for the future."
The report recommends 10 steps companies can take to reduce their
water-related impacts on the environment and local communities and help
protect their operations and their shareholders from business risks related to
water. These steps include measuring their current water use; establishing a
water policy with specific goals and performance targets; improving water
efficiency and conservation efforts; and engaging suppliers, community groups,
and outside partners in an open dialogue on the issue.
Related Links
"Freshwater
Resources: Managing the Risks Facing the Private Sector"