Free Water Risk Assessment Tool for Businesses
Published on by Vishakha Rajput, Previous COO The Water Network at AquaSPE AG in Technology
The Water Risk Monetizer makes water risk assessment based on water basin datasets, economy and scientific methodologies.
Global water scarcity, a function of quantity (availability) and quantity of clean, freshwater threatens business vitality and demands action.
The current cost of water does not account for real and future risk, making it hard to rationalize business decisions to reduce use.
In addition, decreasing water availability and declining water quality factors are making it harder for businesses to access the water they need to operate, putting revenue at risk.
The Water Risk Monetizer was built on Microsoft Azure Cloud technology and developed by Ecolab, firm for water technologies and services, along with risk analysis Trucost.
This tool provides valuable, actionable information – risk-adjusted water prices for incoming and outgoing water and calculation of potential revenue at risk – to help businesses better understand risks and potential impacts in order to make more informed decisions around strategies and investments to mitigate water risks and enable growth.
Environmental impacts such as drought, floods and pollution cleanup cost companies a lot of money.
The Water Risk Monetizer is a free financial modeling tool, created for water risk assessment.
The Water Risk Monetizer helps businesses calculate current and possible future water risks and deal with easier decision-making.
It includes parameters such as water quality and q uantity incorporated in the company’s operations and shows them where they need improvement to achieve sustainability.
Water management could be transformed by using the cloud, IoT and machine learning.
The three companies have collaborated to create a solution which can listen, learn and predict and therefore utilize data to get the most useful insights.
The Water Risk Monetizer tracks the incoming and outgoing water quantity in a specific location, combines this data with water scarcity, quality and environmental impacts of water use.
It quantifies the water risk in monetary terms based on water availability and quality:
- Incoming water risks – influence of water use on human health and the ecosystem and costs of water treatment
- Outgoing water risk - influence of water pollution on human health and the ecosystem and costs of water treatment
- Potential revenue at risk - water use requirements vs availability
- Enterprise risk profile – company’s risk based on a 3-year projected outgrowth and water stress in a specific location.
The Water Risk Monetizer is user-friendly and publicly available.
It helps mitigate risks and directs the company growth into sustainability.
I would love to hear your feedback about the tool.
Media
Taxonomy
- Water Risk Tools
- Risk Assessment
- Water Governance
- Risk Management