Bridging Concern with Action: Are US Companies Prepared for Looming Water Challenges?

A new survey of major U.S. corporations released by thePacific InstituteandVOX Global, titledBridging Concern with Action: Are US Companies Prepared for Looming Water Challenges?,reveals that most companies believe water challenges will significantly worsen in the next five years. However, the majority of companies surveyed do not appear to be planning corollary increases in the breadth and scale of their water risk management practices. In fact, nearly 70 percent of responding companies said their current level of investment in water management is sufficient.

In an attempt to gain insight on corporate perceptions of risks associated with water issues and plans to address these challenges, the Pacific Institute and VOX Global surveyed over 50 companies, the majority Fortune 500 and publicly traded, representing virtually every industry sector. In addition to an online survey, in-depth interviews were conducted with senior officials who have direct responsibility for water issues from companies including: AT&T, Cummins, Inc., The Hershey Company, MillerCoors, and Union Pacific Railroad.

Nearly 60 percent of responding companies indicated that water is poised to negatively affect business growth and profitability within five years, while more than 80 percent said it will affect their decision on where to locate facilities. This is a stark increase from only five years ago, when water issues affected business growth and profitability for less than 20 percent of responding companies.

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Read the survey report here

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Taxonomy

• Industrial Water Reuse
• Scarcity