Firms water strategies 'inadequate', says CDP

The world's largest companies are pursuing a misguided approach to water risk management, according a new report from the CDP

It says too many firms are focusing on reducing water use, which the CDP claims is an inadequate response to increasingly immediate water risks.

The report, based on data from 180 companies listed on the FTSE Global 500 Equity Index, reveals that 70% believe water presents a substantive risk, and half had experienced detrimental impacts in the past five years, including increased costs and delays to operations.

Nonetheless, just 3% had set water management targets.

Meanwhile, Sainsbury’s has announced its new flagship “green” store in Weymouth will be water-neutral, with 70% of the store’s needs met through rainwater harvesting and other water efficient infrastructure; the remainder will be offset by sponsoring water-saving initiatives in the local community.