Building Corporate Water Resilience - Webinar
Addressing climate change has become a critical part of business management, as companies respond to the wide variety of physical, transitional, and reputational risks caused by climate change - in addition to meeting stakeholder expectations that businesses play a significant role in mitigation. Fortunately, the market is shifting in a way that rewards those who understand the risks and opportunities and are willing to innovate and show leadership to adapt to a low-carbon economy.
As climate change accelerates, businesses will face more frequent disruptions to operations and supply chains, whilst at the same time needing to respond to increasing regulatory compliance and demand from stakeholders. Businesses that proactively respond to the risks and opportunities of climate change will be in a greater position to attract and retain talent, build customer loyalty, future-proof their business models, and secure investment.
Effective climate action begins with understanding business emissions from direct operations and supply chains and taking steps to mitigate these impacts through best practice target setting and transition planning. The UN Global Compact Network UK offers programming to help businesses understand the basics of corporate climate action, from the complexities of value chain emissions, to setting targets with the Science Based Targets Initiative, and developing business models that prioritise climate action through impactful Transition Plans.
Businesses of all types rely on water as a critical resource in their production processes and throughout their supply chains. However, the risks of inaction are mounting. According to CDP, one in five companies report water-related risks in their supply chain, with a combined potential financial impact of $77 billion.
Despite substantial investments in water solutions, current progress remains insufficient. The private sector has a significant role to play in improving water resilience and achieving net positive water impact in the most water-stressed basins, through corporate water stewardship and collective action. According to the World Bank, every $1 invested in resilient water infrastructure yields $4 in benefits, highlighting the importance of prioritising water resilience.
This webinar explored how businesses can identify, measure, and address their impacts and dependencies on water, drawing on insights and resources from the CEO Water Mandate and the Water Resilience Coalition’s 100 Basins Initiative. Guest speakers included George Schuler, Deputy Head of the CEO Water Mandate at the Pacific Institute, and Michael Alexander, Global Head of Environment at Diageo. Moderated by Cheryl Hicks, Senior Advisor at the CEO Water Mandate, the session highlighted leading practices, practical strategies, and real-world examples of how companies are working together through collective action to strengthen water security and build long-term water resilience.
George Schuler
Deputy Head of CEO Water Mandate
Pacific Institute
Michael Alexander
Global Head of Environment
Diageo
Cheryl Hicks
Senior Advisor
CEO Water Mandate
(Moderator)
Further Information:
The CEO Water Mandate is the corporate water stewardship initiative of the UN Global Compact, in partnership with the Pacific Institute. Companies demonstrating leadership on water stewardship globally, and across Europe, have committed to achieving positive water impact in 100 of the world’s most water-stressed basins through Collective Action initiatives.