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Water moves up the business risk agenda as demand rises

Water moves up the business risk agenda as demand rises

Photo by Duane Daws

22nd May 2015

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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At the current pace, global demand for water will increase by 55% by 2050, moving concerns around sustained water supply up the business risk agenda, a recent report by the Organisation for Economic Cooperation and Development has revealed.

This finding came coincided with the conclusions of a recent World Bank report, which cited a 40% global shortfall between the forecast demand for and available supply of water by 2030.

“With business sharing water with communities, industry, farmers and other users, securing the right quality and quantity of water at the right time is set to become a serious production and reputational issue,” professional services firm PwC outlined in a report dubbed ‘Collaboration: Preserving water through partnering that works’.

The report, which explored the risks of water demand trends for business, stated that continued effective water management was becoming more complex and costly for the private sector.

According to PwC sustainability and integrated reporting partner Jayne Mammatt, identifying and managing the potential material risks – both in direct operations and in the supply chain – were important steps in 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, they often have hugely differing perspectives and demands,” she commented.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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