Water has moved to the top of the business risk agenda according to the World Economic Forum’s Global Risks Report 2015.
At the current pace, demand for water will increase by 55% globally by 2050, projects the Organisation for Economic Cooperation and Development (OECD), and the increase will come mainly from manufacturing, electricity and domestic use. A recent report by Pricewaterhousecoopers (PwC) explores the risks for business associated with water and how to collaborate with stakeholders to achieve a common goal – to share water successfully. According to the report titled ‘Collaboration: Preserving water through partnering that works’ the risks for business from having too much or too little water, water that’s too dirty or too expensive are increasing.Business water management becoming complex and costly
Jayne Mammatt, Partner in Charge of PwC’s Sustainability and Integrated Reporting Department, says: “Continued effective water management is becoming more complex and costly for business. “Identifying and managing the potential material risks both in direct operations and in the supply chain is an important step to managing the bottom line and avoiding sudden costs.“Ultimately, securing water will come down to effective collaboration with other users in the water basin and when stakeholders come together, even with the best intentions to work together, they often have huge differing perspectives and demands. PwC recognises the complexities of collaboration and are able to offer and independent perspective.”
