Places like Sao Paulo, Brazil and California are experiencing record-breaking drought that’s wreaking havoc on local economies. No longer can people use water as though it’s an unlimited resource. These conditions are beginning to adversely affect businesses in a number of ways.
For example, because the use of household goods can account for more than 90% of domestic water use, Unilever has found that the sales growth of its products is at risk. Consumers in developing countries are having to decide which household tasks will get their ration of water, and they’re not buying new products that use more water. In fact, two thirds of the world’s largest companies are exposed to water risks. There is progress happening, though, in the arenas of water risk monitoring and management. Smart companies are innovating in response to this water crisis. IT business InfoSys, for example, will save $3.1 million over eight years thanks to having cut its water use by a third in 2010. Leading companies as well as local and national governments will all have a role to play in achieving water stewardship before it’s too late.
Read the full article here: Two Thirds of the World’s Largest Companies Exposed to Serious Water Risks