What happens when more than 3,500 of the world’s foremost experts on water – representing government, industry and NGOs – converge on Stockholm for World Water Week? They dissect the world’s biggest water challenges, explore solutions and begin innovative collaborations.
Two key takeaways relevant to the private sector emerged:
Rethink the water cycle
Looking ahead, we know that the world’s population will grow and the demand for goods and services will expand. As companies seek to meet the demand, our finite supply of natural resources will come under increasing pressure. Freshwater is a case in point. If we continue business as usual, global demand for water is estimated to exceed available resources by 40% by 2030. Companies are aware of this, and many have actively increased their water conservation efforts over the past decade. Yet since 2011, corporate water use has declined by only 10%. That’s not nearly enough to close the gap.
If business and communities are to grow and thrive, industry and others will need to use a lot less freshwater. In Stockholm, a key theme was “un-tapping” wastewater – in other words, viewing wastewater as a valued resource instead thinking of it as something to discard. Currently repurposed wastewater accounts for only 2.41% of all water use globally. With the growing gap between freshwater supply and demand, we must rethink our traditional approach to water use (freshwater in, wastewater out) and find ways to do more with the water we use. This is one way we can help close the gap.
Water use isn’t the only issue when it comes to availability: water quality is, too. According to the UN, more than 80% of the world’s wastewater – and more than 95% in some of the least developed countries – is released into the environment without proper treatment. If we are to “un-tap” wastewater, it must be valued, treated and managed as a material asset, not as a liability that is used once and discharged, often at a quality level unsuitable for future use.
Take a bottom-up approach to corporate water goal setting based on catchment impact
The concept of context-based water targets is rapidly gaining traction in corporate sustainability goal setting – and was much on the minds of leaders attending World Water Week. The approach commonly used today is top-down and broad scale. The context-based approach recognizes that water management activities are not “one size fits all." They should account for a basin’s specific needs, and address the root causes of shared water challenges at a basin level. More meaningful water targets are informed by and aligned with the collective needs of the broader community. Businesses that use context-based goal setting can make investments with greater confidence and reduce risk to strategies for business growth.
Last spring, CDP, the UN Global Compact, The Nature Conservancy, World Resources Institute and WWF released for comment a draft report called “Exploring the case for corporate context-based water targets.” It outlines a science-based approach to goal setting at a catchment level. Distinct benefits to a contextual approach include:
Some early adopters are beginning to evaluate this concept in select high-risk geographies, but there is still more to do to access the robust basin-level water data needed to help this method become a mainstream practice. Judging by the level of enthusiasm and commitment at World Water Week, I think we can expect that these obstacles will be overcome soon. More and more companies will be setting context-based water targets and pursuing innovative water re-use strategies, and I believe we’ll see accelerated progress in closing the water gap.
By Emilio R. Tenuta, VP of Corporate Sustainability, Ecolab
Emilio R. Tenuta is vice president of corporate sustainability with Ecolab. Tenuta’s 30-year tenure at Ecolab includes 25 years of technical and marketing management experience in various industries including Food and Beverage, Pharmaceutical, Lodging, Healthcare, Primary Metals and Automotive. He is actively involved in advancing global sustainability practices, with a significant focus on water stewardship. In partnership with Trucost – and a multi-stakeholder advisory group – Tenuta led development of the Water Risk Monetizer, a financial modeling tool to assess water-related risks. The tool was designed to help companies understand the full value of water to their operations. The Water Risk Monetizer can help companies prioritize water management efforts and make the financial case to invest in reuse and recycle solutions. With insights gained from the Water Risk Monetizer, companies can begin to reinvent the way they operate, turning water risks into business strategies that enable growth – and make the water cycle more sustainable.
