They should start by assessing their waterimpacts and use this assessment to set targets and develop action plans to improve that impact, such as reducing the use of harmful chemicals, investing in recycling technology, and reducing pollutant discharges. Third, companies should engage deeply in water stewardship activities in the basins in which they operate by advocating for watershed protection, or by supporting new water conservation and groundwater sustainability policies.
When companies think about risk, most of them don’t think about water. Historically, water has been available even in areas prone to drought, and flooding followed a fairly predictable pattern. But as the climate warms, the world is beginning to see more extremes — and that often means too little or too much water.