Posts Tagged ‘CDP Water Disclsoure’

Photo: Molson Coors

In a story published in Wednesday’s New York Times, I write about the Carbon Disclosure Project’s new campaign to get global corporations to reveal their water consumption and the financial risks and opportunities in an increasingly water-constrained world:

SAN FRANCISCO — The Carbon Disclosure Project, an investor-backed nonprofit organization that has persuaded some of the world’s largest corporations to disclose their greenhouse gas emissions, will announce on Wednesday that it is asking 302 global companies to begin issuing detailed reports on their water use.

The move begins a campaign to put water consumption on par with carbon emissions as a concern of company shareholders. Scientists predict climate change will aggravate worldwide water shortages in the coming decades.

“For investors, it’s a material issue,” Marcus Norton, head of the new project, called C.D.P. Water Disclosure, said in an interview by phone from London. “It matters because long-term investors in particular see that water scarcity is going to impact companies’ operations and supply chains.”

Companies increasingly are running into water-related obstacles. Last week, New York State denied a permit for Entergy’s Indian Point nuclear power plant because of its enormous consumption of cooling water.

A few days earlier, the Environmental Protection Agency issued new water quality rules that could limit mining company operations. And in California, regulators recently pressured the utility giant FPL Group to use more water-efficient technology in a solar power plant project while denying access to water supplies to other developers.

Norges Bank Investment Management in Oslo has identified 1,100 companies in its portfolio facing water risks, according to Anne Kvam, global head of ownership strategies for the bank, which manages $441 billion.

“As investors, we need to know if companies are in industry sectors or regions where water supplies are scarce and how they are managing those supplies,” Ms. Kvam said. “It’s a challenging thing to get good information about water management.”

You can read the rest of the story here.

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