Corporate giants are investing hugely in water security: Report

PTI
Wednesday, 8 November 2017

New Delhi: Global corporate giants are investing hugely in water security and management with a three-fold rise in just one year, an annual water report said on Tuesday. They committed to $23.4 billion of investment in water projects in 2017 alone.
In India too, companies are spending heavily to mitigate the risk of water supply with Tata Steel $38 million, ITC along with MNCs like Diageo, L’Oreal and Symrise AG also reporting spends in millions.

New Delhi: Global corporate giants are investing hugely in water security and management with a three-fold rise in just one year, an annual water report said on Tuesday. They committed to $23.4 billion of investment in water projects in 2017 alone.
In India too, companies are spending heavily to mitigate the risk of water supply with Tata Steel $38 million, ITC along with MNCs like Diageo, L’Oreal and Symrise AG also reporting spends in millions.

The report, ‘A turning tide: Tracking corporate action on water security’, published by non-profit environmental disclosure platform CDP, analyses water data from 742 of the world’s largest companies, including Nestle, Burberry and Kellogg’s.
It finds escalating boardroom engagement in water issues. The report highlights growing accountability and performance in water management with a 40 per cent increase in disclosure since 2016 and a 193 per cent increase in the number of companies featured on the CDP water A List.

The US (13), Japan (12) and Britain (nine) are the three countries with the most companies on the water A List.
Companies committed to $23.4 billion of investment in water projects in 2017 such as desalination plants, reclaiming waste water or improved irrigation to avoid droughts across 1,000 projects in 91 countries.

The report says the energy sector continues to be the biggest laggard, with 101 out of the 138 energy companies asked to disclose failed to do so.

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